Islamabad, March 3, 2025 – The Federal Board of Revenue (FBR) has successfully collected Rs 5.71 billion as advance tax on cash withdrawals during the first seven months (July–January) of the current fiscal year 2024-25. This tax applies to individuals making large cash withdrawals from banks who are not listed on the Active Taxpayers’ List (ATL).
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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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FBR Raises Rs 1.22 Billion Tax Demand Against Bank Alfalah
Karachi, March 2, 2025 – The Federal Board of Revenue (FBR) has issued a tax demand of Rs 1.22 billion against Bank Alfalah for multiple tax years, citing various discrepancies in tax payments.
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FBR Collects Rs 11 Billion from Exporters Under New Tax Rules
Islamabad, March 2, 2025 – The Federal Board of Revenue (FBR) has successfully generated Rs 11 billion in withholding tax from exporters under new tax regulations implemented for the current fiscal year.
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FPCCI Proposes Abolishing Withholding Tax on Sales to Retailers
Karachi, March 2, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed the removal of withholding tax on sales to retailers, arguing that the measure will facilitate business growth and ease the tax burden on traders.
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FBR Collects Rs 7.34 Trillion in 8MFY25 but Misses Target
Islamabad – The Federal Board of Revenue (FBR) has collected a total of Rs 7.34 trillion during the first eight months (July – February) of the ongoing fiscal year. However, despite this substantial collection, the FBR has failed to meet its revenue target for the period.
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Pakistan Customs Issues Valuation for China-Origin Suitcases
Karachi, February 28, 2025 – Pakistan Customs has issued a new valuation for China-origin suitcases to determine applicable duties and taxes.
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Fixed Tax for Traders Suggested After Scheme Failure
Karachi, February 28, 2025 – The business community has strongly advocated for a fixed tax regime for traders following the failure of the Tajir Dost Scheme (TDS) to yield the desired results.
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MTO Karachi Seals Oaks for Issuing Unverified Invoices
Karachi, February 28, 2025 – The Medium Tax Office (MTO) Karachi has taken decisive action against tax fraud by sealing an outlet of Oaks Pakistan for issuing fake sales tax invoices.
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KCCI to Discuss Issues Related to SRO 55 with FBR
Karachi, February 27, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has urged its members to actively participate in discussions regarding SRO 55 by submitting their recommendations.
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Capital Gain Tax Collection Surges 82% in 7MFY25
Karachi, February 27, 2025 – The collection of capital gain tax has witnessed an extraordinary surge of 82% during the first seven months (July – January) of the fiscal year 2024-25, according to provisional data from the Federal Board of Revenue (FBR).
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