The Supreme Court of Pakistan has ruled that the statutory timeframe for retaining tax records, typically set at six years under Section 174(1) of the Income Tax Ordinance, 2001, becomes secondary if a legal proceeding is pending.
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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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Pakistan may abolish sales tax on cotton in 2025-26 budget
Islamabad, May 13, 2025 — The government of Pakistan is considering a significant tax reform by planning to abolish the 18% sales tax on locally produced cotton in the upcoming federal budget for 2025-26.
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FBR adds 2.39 million taxpayers via law amendments, NA informed
Islamabad, May 13, 2025 — The Federal Board of Revenue (FBR) has successfully brought 2,391,566 new taxpayers into the system through amendments made under the Tax Laws Amendment process. This was disclosed by Parliamentary Secretary for Finance Saad Waseem Sheikh during the Question Hour in the National Assembly on Monday.
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FTO directs FBR to resolve long-standing electricity duty issue
Islamabad, May 12, 2025 – In a significant move aimed at safeguarding consumers from excessive taxation, the Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to constitute a joint committee to re-evaluate the entire regime of electricity duty and taxes calculated thereon.
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Pakistan to auction massive stock of seized Iranian diesel, petrol
Karachi, May 12, 2025 – The Collectorate of Customs (Enforcement), Gadani, of Pakistan Customs has announced a large-scale public auction of seized Iranian petroleum products, including high-speed diesel (HSD) and petrol, to be held on May 15, 2025, at Gadani.
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Gadani Customs to hold mega vehicle auction on May 15, 2025
Karachi, May 12, 2025 – The Collectorate of Customs (Enforcement), Gadani, has announced a major public auction of seized vehicles, scheduled to take place on May 15, 2025, at the Customs House Gadani.
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KTBA urges government to abolish tax on NPOs surplus funds
Karachi, May 12, 2025 – The Karachi Tax Bar Association (KTBA) has called on the government to abolish the tax on surplus funds of Non-Profit Organizations (NPOs) in the upcoming federal budget for 2025–26.
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OICCI proposes POS integration at airlines and travel agencies
Karachi, May 12, 2025 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended that the Federal Board of Revenue (FBR) install Point-of-Sale (POS) systems at all airlines and travel agencies in Pakistan, as part of its proposals for the upcoming 2025-26 federal budget.
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FBR begins on-site monitoring of beverage manufacturing units
Islamabad – The Federal Board of Revenue (FBR) has initiated an on-spot inspection campaign targeting beverage manufacturing units across the country.
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Pakistan may introduce capital value tax for crypto assets
Karachi, May 11, 2025 – Pakistan is likely to introduce a Capital Value Tax (CVT) on crypto assets held by resident citizens, as the government moves toward formalizing regulation for digital currencies.
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