Islamabad, August 3, 2025 – Banks across Pakistan have started collecting withholding tax on the sale of debt securities from Investor Portfolio Securities (IPS) accounts, following new changes introduced in the Finance Act, 2025.
(more…)Category: Budget
This is parent category of budgets presented by Pakistan government. Here you will find year-wise federal and provincial budgets.
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FBR confirms tax amnesty for ineligible persons
Islamabad, August 3, 2025 – The Federal Board of Revenue (FBR) has officially clarified that ineligible individuals may now benefit from a form of tax amnesty, allowing them to enter the documented economy without fear of questioning about the origins of their declared resources.
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Pakistan ends blanket income tax exemptions from FY26
Islamabad, August 3, 2025 – Pakistan has withdrawn blanket income tax exemptions to individuals and entities through Finance Act, 2025.
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FBR treats cash deposit as banking channel payment
Islamabad, August 3, 2025 – The Federal Board of Revenue (FBR) has clarified that bank cash deposits made by buyers into the seller’s bank account will be treated as valid payments through the banking channel under the Income Tax Ordinance, 2001.
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Tax rebate for teachers discontinued from July 1, 2025: FBR
Islamabad, August 2, 2025 – The Federal Board of Revenue (FBR) has officially announced the discontinuation of the 25% tax rebate for full-time teachers and researchers starting July 1, 2025.
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Non-ATL cash withdrawals to face 0.8% tax: FBR
Islamabad, August 2, 2025 – The Federal Board of Revenue (FBR) has clarified that the advance tax on cash withdrawal from banks at the rate of 0.8% is applicable only to individuals not appearing on the Active Taxpayers List (ATL).
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Pension income now taxable from FY 2025-26: FBR
Islamabad, August 2, 2025 – The Federal Board of Revenue (FBR) has announced that pension income will now be taxable under the new rules introduced in the Finance Act, 2025. These changes apply from the tax year 2025-26 and are explained in Income Tax Circular No. 1 of 2025-26, issued by the FBR.
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FBR explains new e-commerce tax framework
Islamabad, August 2, 2025 – The Federal Board of Revenue (FBR) has provided a detailed explanation of the new taxation framework introduced for the e-commerce sector under the Finance Act, 2025.
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FBR gets 41% more funds for FY 2025-26 expenses
Islamabad, July 29, 2025 – The federal government has significantly increased the budgetary allocation for the Federal Board of Revenue (FBR) for the fiscal year 2025-26, earmarking Rs83.10 billion for its expenditures. This reflects a 41% jump compared to Rs58.80 billion allocated in the previous fiscal year.
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Merchant Unlocks Sections 37A and 37B of Sales Tax Act
Renowned tax expert Muhammad Zeeshan Merchant, Advocate High Court and former president of Karachi Tax Bar Association (KTBA), demystified the highly talked-about Sections 37A and 37B of the Sales Tax Act, 1990, introduced through the Finance Act, 2025.
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