Islamabad, January 2, 2025 – The Federal Board of Revenue (FBR) announced the immediate transfer and posting of senior officers in the Pakistan Customs Service (PCS) in grades BS-17 to BS-20. The reshuffling aims to streamline operations and ensure efficient management within the customs framework. Below is the full list of transfers:
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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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Sindh Invites Tax Proposals for Budget 2025-26
Karachi, January 2, 2025 – The Sindh Revenue Board (SRB) has invited stakeholders to submit tax proposals for the upcoming Budget 2025-26, signaling its commitment to fostering a collaborative approach to fiscal planning. The SRB aims to incorporate the suggestions of taxpayers and industry representatives into the final budget to ensure a balanced and effective taxation framework.
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Islamabad Extends Vehicle Tax Payment Deadline to January 15
Islamabad, January 2, 2025 – The Islamabad Excise and Taxation Department has extended the deadline for vehicle token tax payments, giving vehicle owners a 15-day grace period.
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KPRA Posts Impressive 45% Tax Collection Growth in 1HFY25
The Khyber Pakhtunkhwa Revenue Authority (KPRA) has achieved remarkable progress in tax collection, amassing Rs 24.2 billion during the first six months (July – December) of the fiscal year 2024-25. This represents an impressive 45% growth compared to the Rs 16.7 billion collected in the same period last year, showcasing an increase of Rs 7.5 billion in revenue.
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Section 21 of the Sales Tax Act, 1990: Suspension of Registration
Section 21 of the Sales Tax Act, 1990, provides detailed guidelines for de-registration, blocking, and suspension of taxpayer registration. It is a vital mechanism used by the Federal Board of Revenue (FBR) to address tax evasion and ensure compliance. Here’s an expanded overview:
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FBR Seals Two Famous Bakeries in Karachi for POS Violation
Karachi, January 1, 2025 – The Regional Tax Office (RTO) – 1 Karachi, an important wing of the Federal Board of Revenue (FBR), has taken decisive action by sealing two prominent bakeries in the city for failing to comply with Point of Sale (POS) regulations.
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FBR Implements Digital Eye for Tax Monitoring in Sugar Sector
Karachi, January 1, 2025 – The Federal Board of Revenue (FBR) has launched a cutting-edge “digital eye” system for real-time monitoring and video surveillance of production in Pakistan’s sugar sector. This initiative aims to enhance tax compliance and streamline the monitoring process.
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FBR Active Taxpayer List 2024 Reaches 5.89 Million
Karachi, January 1, 2025 – The Federal Board of Revenue (FBR) issued its updated Active Taxpayers List (ATL) for the tax year 2024, showcasing an impressive 5.89 million active taxpayers.
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FBR Faces Rs 380 Billion Tax Shortfall in 1HFY25
The Federal Board of Revenue (FBR) faced a substantial revenue shortfall of Rs 380 billion during the first half of the current fiscal year (July-December 2024). The total tax collection amounted to Rs 5,629 billion, falling short of the projected target of Rs 6,009 billion, raising concerns over Pakistan’s fiscal performance.
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Pakistan Waives Customs Duty on 261 Items for D-8 Countries
Karachi, December 31, 2024 – Pakistan has announced the exemption of customs duties on 261 tariff lines for imports from D-8 countries, a move effective from January 1, 2025. This initiative is part of Pakistan’s commitment to fostering regional trade under the D-8 Preferential Trade Agreement (PTA).
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