Tax authority assigns powers to Chief Commissioner and six Commissioners following the redesignation of MTO Karachi as CTO-II.
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Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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FBR abolishes CTO Islamabad, renames MTO Karachi as CTO-II
Tax authority restructures Inland Revenue field formations by establishing RTO-II Lahore and reorganising corporate tax administration.
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Pakistan issues new FED rates on air travel tickets for FY2026-27
FBR updates Federal Excise Duty structure for first-class, business-class, and club-class air tickets under the amended Federal Excise Act, 2005.
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FBR announces FED rates on advertisements for FY2026-27
Federal Excise Duty remains applicable on TV, cable TV, newspaper, billboard, and signboard advertisements under the updated Federal Excise Act.
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FBR imposes FED of Rs16,500 per kg on e-cigarette liquids
Updated Federal Excise Act 2005 introduces new duty on E-liquids used in electric cigarette kits from June 30, 2026
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FBR expands powers to conduct electronic audits under updated Federal Excise Act
Amended law introduces virtual audit proceedings, voluntary tax settlement incentives and stronger enforcement powers
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Punjab increases sales tax on consultancy services to 8%
Punjab Finance Act, 2026 increases the concessionary sales tax rate for consultants and rent-a-car services from 5% to 8% without input tax adjustment.
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Punjab raises concessionary tax rate to 8% for hotels and restaurants
Punjab Finance Act, 2026 increases the reduced sales tax rate from 5% to 8% for digitally paid hotel and restaurant services without input tax adjustment.
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FBR introduces new sales tax exemptions for FY2026-27
Finance Act, 2026 expands the list of exempt goods and imports, including sanitary products, contraceptives, selected vessels and bulletproof vehicles.
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Pakistan cuts corporate tax rate for banks to 42% in FY27
Reduced tax rate takes effect from January 1, 2026, while tax rates for small companies and other corporate entities remain unchanged.
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