Punjab reduces the input tax adjustment cap to 80% and introduces a 12-month phased adjustment for capital goods under new sales tax reforms.
(more…)Category: Budget 2026-27
This category provides latest stories related to budget 2026-27. Check updated articles on budget 2026-27 at Pakistan Revenue for information.
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Punjab tightens active taxpayer rules under Finance Act 2026
New law links active taxpayer status to timely return filing, input tax claims, government licences and public procurement contracts.
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Punjab revises motor vehicle tax rates for FY2026-27
New tax rates effective from July 1 increase annual levies on heavy transport vehicles and raise ad valorem taxes for higher-engine-capacity private vehicles.
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FBR introduces final tax on life insurance payouts to individuals
Finance Act, 2026 imposes withholding tax on certain life insurance and family takaful payments while exempting death, disability and long-term policy proceeds.
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Taxpayers seek refund of deemed income tax after court ruling
Uncertainty remains over refund claims after the Federal Constitutional Court struck down the deemed rental income tax and the Finance Act, 2026 repealed the provision.
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Finance Act 2026 defines authorised shipping agent for tax compliance
New legal definition places greater tax responsibilities on local representatives of non-resident shipping companies operating in Pakistan.
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Pakistan extends sales tax exemption on aircraft imports to all airlines
Finance Act 2026 broadens aviation tax exemption beyond PIA to all airlines registered in Pakistan from July 2026
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Pakistan launches carbon market, approves four major climate projects
Four projects receive Letters of Intent under Article 6 framework to generate carbon credits and attract climate finance
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FBR to collect taxes first on auctioned goods
New Sales Tax Act provision mandates tax recovery before owners receive auction proceeds and allows electronic public auctions.
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FBR raises penalty for late filing of sales tax returns fivefold under Finance Act 2026
ISLAMABAD: The Federal Board of Revenue (FBR) has significantly enhanced penalties for taxpayers failing to file monthly sales tax returns within the prescribed due date, introducing stricter enforcement measures through the Finance Act, 2026.
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