Karachi, June 26, 2025 – In a bold and sweeping move aimed at clamping down on tax evasion, the federal government has proposed a major amendment to the Finance Bill 2025, redefining the scope of tax fraud to include any supply of goods made without the issuance of a valid tax invoice.
(more…)Author: Shahnawaz Akhter
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SAI sounds alarm on soaring minimum wage hike in Sindh
Karachi, June 26, 2025 – A storm is brewing in Sindh’s industrial heartland as the SITE Association of Industry (SAI) has raised serious red flags over the provincial government’s dramatic move to hike the minimum wage to an unprecedented Rs42,000.
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KCCI plans large-scale protest against FBR’s arrest powers
Karachi, June 25, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has planned large-scale protest against the controversial arrest powers granted to Federal Board of Revenue (FBR) officials under the Finance Bill, 2025.
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Sindh Assembly passes Rs3.45 trillion Budget for 2025-26
Karachi, June 25, 2025 – The Sindh Assembly has approved the provincial budget for the fiscal year 2025-26, with total spending planned at Rs3.45 trillion.
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KATI strongly opposes Sindh’s Rs42,000 minimum wage proposal
Karachi, June 25, 2025 — The Korangi Association of Trade and Industry (KATI) has categorically rejected the Sindh government’s proposal to fix the minimum wage at Rs42,000, calling it economically unfeasible and damaging to the province’s industrial ecosystem.
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SBP data reveals strong growth in digital transactions
Karachi, June 25, 2025 — The State Bank of Pakistan (SBP) has reported a remarkable transformation in Pakistan’s digital payments ecosystem, highlighting robust growth in transaction volumes and user adoption during the third quarter of FY2024–25.
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Pakistan witnesses 55% annual surge in voluntary tax payment
Karachi, June 25, 2025 — In a seismic shift for Pakistan’s tax culture, voluntary tax payment has exploded by a staggering 55%, signaling a dramatic rise in public trust, financial awareness, and patriotic commitment to national development. This surge isn’t just a number—it marks a powerful move towards a more self-sustaining and transparent economy.
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Arrest powers of tax officials redrafted for NA approval
Islamabad, June 25, 2025 — In response to intense backlash over the expanded powers granted to tax officials in the Finance Bill 2025, the Federal Board of Revenue (FBR) has redrafted key provisions relating to the arrest powers of Inland Revenue officers.
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PSX soars 5.23% as Iran-Israel ceasefire sparks market rally
Karachi, June 24, 2025 – The Pakistan Stock Exchange (PSX) witnessed a powerful rebound on Tuesday, surging 5.23% following the announcement of a ceasefire agreement between Iran and Israel.
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FBR collects Rs53 billion through automatic closure of tax audits
Karachi, June 24, 2025 – The Federal Board of Revenue (FBR) has successfully recovered a substantial amount of Rs53 billion during the tax year 2024 through the automatic closure of income tax audits, under a special provision of the Income Tax Ordinance, 2001.
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