Karachi, March 16, 2026 – The Federal Board of Revenue (FBR) has transferred the cases of several major multinational companies (MNCs) to the Large Taxpayers Office (LTO) Karachi to strengthen corporate tax oversight and ensure compliance with domestic tax laws.
(more…)Author: Shahnawaz Akhter
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ICMAP unveils bold tax proposals for Pakistan Budget 2026–27
Karachi, March 16, 2026 – The Institute of Cost and Management Accountants of Pakistan (ICMAP) has submitted a comprehensive set of tax proposals to the Tax Policy Office (TPO), Ministry of Finance, aimed at enhancing revenue generation and formalizing the economy for the upcoming Federal Budget 2026–27.
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FBR constitutes committees to recommend promotions for Inland Revenue officials
Islamabad, March 16, 2026 – The Federal Board of Revenue (FBR) on Monday announced the formation of two departmental committees tasked with recommending promotions for officials within the Inland Revenue Service (IRS). The move aims to streamline the promotion process and recognize the performance of officers across various grades in the department.
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Global tensions hit Pakistan trade: FPCCI warns of major losses
Karachi, March 16, 2026 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has warned that escalating war risk in the Middle East and skyrocketing freight charges are jeopardizing Pakistan’s trade and industrial sectors.
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Who Is Guilty of Offence by a Company Under Income Tax Laws in Pakistan? (2026 Update)
Karachi, March 2026 – The Federal Board of Revenue (FBR) has clarified the liability of individuals responsible for offences committed by companies under the Income Tax Ordinance, 2001. The 2026 update emphasizes stricter accountability for company officials and members of associations of persons (AOPs).
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Pakistan’s rice exports slump 40% in 8MFY26 — Iran conflict may deepen losses
Islamabad, March 15, 2026 – Pakistan’s rice exports have suffered a sharp 40% decline during the first eight months (July–February) of fiscal year 2025-26, compared to the same period last year, raising concerns of further contraction amid the ongoing Iran war.
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Pakistan’s petroleum imports plunge amid pre-Iran war challenges
Islamabad, March 14, 2026: Pakistan’s petroleum product imports experienced a significant decline in February 2026, even before the escalation of the Iran war, highlighting ongoing energy challenges in the country.
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FBR Sets Export Customs Value for Meat, Issues Valuation Ruling 2/2026
Karachi, March 13, 2026 – The Federal Board of Revenue (FBR) has issued Valuation Ruling (VR) No. 2/2026 to establish the customs export value of meat for the calculation of duties and taxes. This move aims to standardize export pricing and ensure compliance under the Customs Act, 1969.
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FBR vs JS Investments: Decades-long tax dispute highlights legal and currency challenges
Karachi, March 13, 2026 – JS Investments has been embroiled in a tax dispute with the Federal Board of Revenue (FBR) for over two decades, raising questions about the effectiveness of prolonged legal proceedings and the impact of currency depreciation on recoverable tax amounts.
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FBR to continue full operations despite government austerity measures
Islamabad, March 11, 2026 – The Federal Board of Revenue (FBR) has decided to continue working with full operational capacity despite austerity measures introduced by the federal government amid a petroleum crisis linked to regional tensions.
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