ISLAMABAD: The Federal Board of Revenue (FBR) has significantly enhanced penalties for taxpayers failing to file monthly sales tax returns within the prescribed due date, introducing stricter enforcement measures through the Finance Act, 2026.
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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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Finance Act 2026 empowers FBR to order re-audit of taxpayers
Commissioners can direct independent re-audits and inventory re-valuations with prior approval to strengthen sales tax compliance.
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LTO Karachi targets 174 taxpayers in foreign assets scrutiny drive
Investigation under AEOI framework targets offshore wealth, foreign income and tax reporting compliance.
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FBR doubles NEV adoption levy collection target for FY2025-26
Government expects Rs122 billion from ICE vehicle levy in FY2026-27 to support Pakistan’s transition to cleaner transport.
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FBR projects Rs410bn customs duty from petroleum products in FY2026-27
Petroleum products, imported vehicles and electrical machinery are expected to remain the largest contributors to customs duty revenue.
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FBR revises sales tax collection mechanism for steel industry
Finance Act 2026 links sales tax collection to electricity consumption and offers lower rates for digitally compliant steel manufacturers.
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Finance Act 2026 allows FBR to use PBS data for sales tax valuation
Tax authority empowered to adopt Pakistan Bureau of Statistics valuations and outsource goods valuation to strengthen sales tax compliance.
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Finance Act 2026 redefines Tier-1 retailer under sales tax law
Revised definition expands the scope of retailers subject to enhanced sales tax compliance and documentation requirements.
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SRB notifies rules for sales tax on education services
Sindh Revenue Board clarifies taxable value, exemption threshold and payment mechanism for educational institutions in FY2026-27.
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FBR removes IRS officer over prolonged unauthorised absence
Female Inland Revenue Service officer dismissed after failing to resume duty following the expiry of approved study leave in the United Kingdom.
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