Karachi, February 21, 2025 – Pakistan Customs has announced revised valuation for imported multimedia projectors to ensure fair assessment of duties and taxes.
(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.
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Property Tax Collection Rises to Rs 130B Amid Policy Changes
Islamabad, February 21, 2025 – Pakistan’s tax collection from property transactions has surged to Rs 130 billion during the first seven months (July–January) of the fiscal year 2024-25, according to sources within the Federal Board of Revenue (FBR).
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ECC Approves Tax Exemption for ICC Champions Trophy Income
Islamabad, February 20, 2025 – The Economic Coordination Committee (ECC) of the Cabinet, in a meeting on Friday, granted approval for a tax exemption on the income generated by the International Cricket Council (ICC) from the ICC Champions Trophy 2025.
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FBR Misses Deadline for Notifying 2025 Income Tax Return Forms
Karachi, February 20, 2025 – The Federal Board of Revenue (FBR) has failed to meet the deadline for notifying the finalized FBR return forms for income tax year 2025, raising concerns among taxpayers and experts regarding compliance and regulatory adherence.
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SHC Upholds Windfall Tax, Denies Suspension Request
Karachi, February 20, 2025 – The Sindh High Court (SHC) has rejected petitions seeking interim relief against the imposition of the Windfall Income Tax, upholding the legal standing of the controversial levy.
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PBC Urges Phasing Out of Minimum Turnover Tax
Karachi, February 20, 2025 – The Pakistan Business Council (PBC) has urged the Federal Board of Revenue (FBR) to gradually eliminate the minimum turnover tax in the federal budget for the fiscal year 2025-26.
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Aurangzeb Urges Taxation of Free-Riders to Stabilize Economy
Islamabad, February 20, 2025 – Finance Minister Muhammad Aurangzeb has underscored the urgent need to bring the undocumented economy into the tax net, warning that Pakistan can no longer afford to sustain “free riders” who evade taxation.
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Pakistan Grants Tax Exemption to ICC for Champions Trophy 2025
Islamabad, February 20, 2025 – Pakistan has decided to grant a tax exemption on income generated from the ICC Champions Trophy 2025, a move aimed at ensuring smooth operations for the highly anticipated cricket tournament.
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Islamabad Customs Announces Public Auction of Used Vehicles
Islamabad, February 19, 2025 – The Customs (Enforcement) Islamabad has officially announced a public auction of used vehicles, which is scheduled to take place on February 20, 2025.
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FBR Issues New Directives After Faulty Assessment Orders
Karachi, February 19, 2025 – The Federal Board of Revenue (FBR) has expressed serious concerns regarding the incompetence of Inland Revenue (IR) officers in issuing flawed assessment orders, which have led to an increase in frivolous litigation.
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