ISLAMABAD – In what is being dubbed a bombshell ahead of the federal budget 2025-26, the government of Pakistan is reportedly set to double the withholding tax on cash withdrawal from banks, a move that could shake businesses and individuals alike.
(more…)Category: Taxation
Pakistan Revenue delivers the latest taxation news, covering income tax, sales tax, and customs duty. Stay updated with insights on tax policies, regulations, and financial developments in Pakistan.
-
LTO Karachi poised to smash Rs3 trillion barrier first-time
KARACHI – June 6, 2025: In a historic and electrifying milestone, the Large Taxpayers Office (LTO) Karachi is poised to smash through the Rs3 trillion barrier in revenue collection for the very first time in Pakistan’s tax history.
(more…) -
Pakistan’s corporate tax burden highest in Asian region: KTBA
Karachi, June 6, 2025 – The Karachi Tax Bar Association (KTBA) has called on the federal government to lower Pakistan’s corporate tax rate, highlighting that it is currently the highest in Asia.
(more…) -
FBR considers GST on cross-border online sales in FY26 Budget
ISLAMABAD, June 6, 2025 – The Federal Board of Revenue (FBR) is actively exploring the imposition of General Sales Tax (GST) on cross-border online sales as part of the upcoming budget for 2025–26.
(more…) -
ICMAP summarizes tax suggestions for June 10 Budget 2025–26
Karachi, June 5, 2025 – With the Federal Budget 2025–26 set to be unveiled on June 10, the Institute of Cost and Management Accountants of Pakistan (ICMAP) has reiterated its detailed tax policy proposals submitted earlier to the Federal Board of Revenue (FBR).
(more…) -
Jazz CEO urges tax relief for telecom sector in FY26 budget
Islamabad, June 5, 2025 – Aamir Ibrahim, CEO of Jazz and Chairman of the Telecom Operators Association of Pakistan, has urged the government to ease the tax burden on the telecom sector in the upcoming fiscal year 2025–26 budget.
(more…) -
FBR rejects all leave requests ahead of FY26 Budget presentation
Islamabad, June 5, 2025 – The Federal Board of Revenue (FBR) has issued strict directives rejecting all leave applications submitted by officials of the Inland Revenue Service (IRS), as the government prepares to present the federal budget for the fiscal year 2025-26.
(more…) -
FBR recovers over Rs5 billion in major tax case against K-Electric
Karachi, June 5, 2025 – The Federal Board of Revenue (FBR) has successfully recovered over Rs5 billion from K-Electric, following a major court ruling on a long-standing tax dispute. This recovery comes after a legal battle over the application of minimum tax provisions under Section 113 of the Income Tax Ordinance, 2001.
(more…) -
Tax expert backs CVT for broadening tax base in budget 2025-26
Karachi, June 5, 2025 – A leading tax expert has strongly supported the implementation and expansion of the Capital Value Tax (CVT) in the upcoming federal budget 2025-26 as a strategic measure to broaden Pakistan’s tax base and improve equity in the tax system.
(more…) -
FBR shares key tax operations data with IMF under EFF monitoring
Islamabad, June 4, 2025 – The Federal Board of Revenue (FBR) continues to provide detailed data on tax operations to the International Monetary Fund (IMF) as part of ongoing commitments under the Extended Fund Facility (EFF).
(more…)