Advance tax rates on brokerage, commission for 2025-26
KARACHI: The Federal Board of Revenue (FBR) has announced revised advance tax rates applicable on brokerage and commission for the tax year 2025-26.
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Author: Shahnawaz Akhter
NBP reports Rs36 billion income tax disputes with FBR
Karachi, August 30, 2025 – The National Bank of Pakistan (NBP) has disclosed that its ongoing income tax disputes with the Federal Board of Revenue (FBR) have reached an aggregate value of approximately Rs36 billion by the end of the second quarter of 2025.
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FBR issues 2025-26 withholding tax card for motor vehicles
Islamabad, August 30, 2025 – The Federal Board of Revenue (FBR) has issued the updated withholding tax card for Tax Year 2025-26, covering the period from July 1, 2025, to June 30, 2026.
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Customs clearing agents welcome faceless system implementation
Karachi – August 29, 2025 – The All Pakistan Customs Agents Association (APCAA) and Karachi Customs Agents Association (KCAA) have expressed strong satisfaction with the introduction of the Faceless Customs Clearance system, calling it a milestone in modernizing trade procedures.
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SBP orders banks to track billions in outward remittances
KARACHI, August 29, 2025 – The State Bank of Pakistan (SBP) has instructed all banks to provide detailed data on outward remittances and foreign exchange transactions sent abroad by corporate entities and individual investors.
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FBR collects taxes on holidays ahead of IMF review visit
ISLAMABAD – August 29, 2025 – The Federal Board of Revenue (FBR) has announced that its tax collection offices will remain open on the last two weekly holidays of August 2025, in a move aimed at meeting revenue targets ahead of an upcoming International Monetary Fund (IMF) review mission.
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SBP announces 27% drop in after-tax profit for FY25
Karachi, August 28, 2025 – The State Bank of Pakistan (SBP) has reported a sharp 27% decline in its after-tax profit for the fiscal year 2024-25, reflecting a challenging financial environment.
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Pakistan’s forex reserves inch up to $19.62 billion
Karachi, August 28, 2025 – Pakistan’s foreign exchange (forex) reserves saw a marginal improvement, rising by $47 million to reach $19.618 billion for the week ending August 22, 2025, according to the State Bank of Pakistan (SBP).
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FBR, SRB reach accord; SHC closes toll tax case
Karachi, August 28, 2025 – The Sindh High Court (SHC) has finally resolved the long-standing dispute over the levy of sales tax on toll manufacturing through a consensus agreement submitted jointly by the Federal Board of Revenue (FBR) and Sindh Revenue Board (SRB).
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KTBA exposes FBR’s digital disaster – national comedy of errors
Karachi, August 28, 2025 – In a blistering takedown, the Karachi Tax Bar Association (KTBA) has unleashed a scathing critique of the Federal Board of Revenue (FBR), branding the tax authority’s handling of annual return forms and its glitch-ridden IRIS portal as a “catastrophic failure” that is sabotaging taxpayers across Pakistan.
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