Karachi, December 19, 2025 — The Large Taxpayers Office (LTO) Karachi has reported a remarkable 475 percent increase in the collection of capital gains tax (CGT) on the disposal of securities during the first five months of the current fiscal year 2025–26, reflecting the strong performance of the Pakistan Stock Exchange (PSX).
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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.
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Provisional Tax Assessment in Pakistan: What You Should Know
The Federal Board of Revenue (FBR) holds wide-ranging powers under the Income Tax Ordinance, 2001 to safeguard revenue and address tax evasion. One such important mechanism is the provisional tax assessment, which allows tax authorities to assess income in specific high-risk situations even before a final assessment is issued.
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Why Taxpayers Must Understand the Role of FBR’s Commissioner (Appeals)
For taxpayers in Pakistan, understanding the role of the Commissioner (Appeals) is crucial. This office serves as the first stage of relief when a taxpayer disagrees with an order or decision by the Federal Board of Revenue (FBR). Knowing how to navigate this process can save time, money, and stress in resolving tax disputes.
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Pakistan Customs, Rangers seize smuggled goods worth millions in Karachi’s Sohrab Goth
Islamabad, December 19, 2025 — Pakistan Customs, in collaboration with Pakistan Rangers, carried out a major anti-smuggling operation at Sohrab Goth in Karachi on Friday, confiscating foreign-origin smuggled goods valued at millions of rupees.
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Quetta Customs impounds nine NCP vehicles in major anti-smuggling operation
Islamabad, December 19, 2025 — In a significant crackdown on smuggling and illicit trade, the Collectorate of Enforcement Quetta has seized nine Non-Custom-Paid (NCP) vehicles along with a large quantity of smuggled goods during a major enforcement operation. The confiscated items include assorted brands of cigarettes, gutka, Chinese salt, and betel nuts, with the total value estimated at Rs 121.6 million.
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PM Shehbaz directs FBR, provinces to launch crackdown on illegal petrol pumps
Islamabad, December 19, 2025 – Prime Minister Muhammad Shehbaz Sharif on Friday ordered the Federal Board of Revenue (FBR) and provincial governments to initiate a massive crackdown on illegal petrol pumps operating across Pakistan. The directive aims to strengthen enforcement against smuggling, tax evasion, and illicit trade, ensuring protection of the country’s economic interests.
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LTO Karachi achieves record Rs1.27 trillion tax collection in 5MFY26
Karachi, December 19, 2025 – The Large Taxpayers Office (LTO) Karachi has accomplished an unprecedented milestone, amassing Rs1.27 trillion in tax revenue during the first five months (July–November) of fiscal year 2025-26, underscoring robust revenue mobilization efforts.
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Are you a 2025 return filer? You must know how FBR assesses your return
If you have filed your income tax return for tax year 2025, understanding how the Federal Board of Revenue (FBR) assesses your declaration is crucial. Many taxpayers believe filing a return ends their responsibility—but under Pakistan’s tax law, filing is only the beginning of the assessment process.
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Who is required to file a foreign income and assets statement in Pakistan?
If you are a resident taxpayer in Pakistan with overseas income or assets, filing a foreign income and assets statement is not optional—it is a legal obligation under the Income Tax Ordinance, 2001. Failure to comply can trigger enforcement action by the Federal Board of Revenue (FBR), especially from tax year 2026 onward.
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Your wealth statement must contain these details to avoid FBR action
Filing an accurate wealth statement is not just a formality—it is a legal requirement that can protect you from scrutiny, penalties, and enforcement action by the Federal Board of Revenue (FBR). Under the Income Tax Ordinance, 2001, the FBR has clearly defined what a valid wealth statement must include for each tax year.
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