Karachi, February 18, 2025 – The Federal Board of Revenue (FBR) has provided a detailed explanation regarding the definition of fraud under the Customs Act, 1969.
(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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PBC Recommends Wealth Reconciliation Mandatory for All
Karachi, February 17, 2025 – The Pakistan Business Council (PBC) has put forward a significant proposal to the Federal Board of Revenue (FBR), recommending that wealth reconciliation be made mandatory for all tax return filers.
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PBC Urges FBR to Raise Refund Processing Limits for Exporters
Karachi, February 17, 2025 – The Pakistan Business Council (PBC) has urged the Federal Board of Revenue (FBR) to revise and increase the refund processing limits for exporters to facilitate business operations and improve liquidity.
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FBR Tightens POS Rules to Seal Tier-1 Retailer Outlets
Islamabad, February 17, 2025 – The Federal Board of Revenue (FBR) on Monday introduced stricter rules regarding the Point of Sale (POS) integration for Tier-1 retailers.
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FPCCI Applauds Separation of Tax Policy from FBR
Karachi, February 17, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has warmly welcomed the government’s decision to separate tax policy from the Federal Board of Revenue (FBR). This reform is seen as a critical step toward enhancing transparency, improving efficiency, and fostering economic growth.
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PBC Proposes 1% Corporate Tax Reduction for Listed Companies
Karachi, February 17, 2025 – The Pakistan Business Council (PBC) has proposed a 1% reduction in the corporate tax rate for listed companies with a minimum float of 25% in a given year.
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Karachi Customs Auctions Huge Lot of Used Vehicles on Feb 19
Karachi, February 17, 2025 – The Collectorate of Customs, Karachi, has announced a large-scale auction of used vehicles scheduled for February 19, 2025.
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No Tax Amnesty for Property Transactions: FBR Chairman
Islamabad, February 16, 2025 – Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), has categorically denied any plans to introduce a tax amnesty scheme for property transactions.
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Punjab Leads Motor Vehicle Tax Collection for Half-Year FY25
Islamabad, February 16, 2025 – The province of Punjab has emerged as the leader in motor vehicle tax collection among all provinces in Pakistan during the first half of the fiscal year 2024-25.
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FBR Reports 53% Surge in Salary Tax Collection During 7MFY25
Islamabad, February 16, 2025 – The Federal Board of Revenue (FBR) has reported a significant 53% surge in tax collection from the salaried class during the first seven months (July–January) of the fiscal year 2024-25.
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