Taxation Archives - Page 17 of 776

FBR reports 37% surge in revenue paid with income tax returns

May 10, 2026May 10, 2026Shahnawaz Akhter

Federal Board of Revenue has reported a 37 percent increase in revenue paid along with income tax returns for the tax year 2025, reflecting improved tax compliance and higher voluntary payments.

OICCI Seeks Higher Salary Tax Exemption in Budget 2026-27

May 9, 2026May 9, 2026Shahnawaz Akhter

Overseas Investors Chamber of Commerce and Industry has proposed increasing the taxable salary income threshold to Rs1.2 million annually in the federal budget 2026-27, compared to the existing limit of Rs600,000.

FBR Warns Taxpayers Over Non-Declaration of Property

May 9, 2026May 9, 2026Shahnawaz Akhter

Federal Board of Revenue has warned taxpayers of strict legal action for failing to declare property details in income tax returns for tax year 2026.

Pakistan apex court strikes down tax on deemed property income

May 7, 2026May 7, 2026Mrs. Anjum Shahnawaz

ISLAMABAD, May 7, 2026 — Pakistan’s Federal Constitutional Court on Thursday declared the tax on deemed property income unlawful, dismissing appeals filed by the Federal Board of Revenue (FBR) and striking down Section 7E of the Income Tax Ordinance, 2001.

Pakistan set to reduce PTA mobile phone taxes for overseas Pakistanis

May 7, 2026May 7, 2026Hamza Shahnawaz

ISLAMABAD, May 7, 2026 – Pakistan is considering reducing taxes on mobile phones registered through the Pakistan Telecommunication Authority to provide relief for overseas Pakistanis visiting the country, a senior federal minister told the Senate on Thursday.

FBR issues draft income tax return forms for tax year 2026

May 7, 2026May 7, 2026Shahnawaz Akhter

ISLAMABAD, May 7, 2026 – Pakistan’s Federal Board of Revenue on Thursday issued draft income tax return forms for individuals for tax year 2026 and sought feedback from stakeholders before finalising the forms for the upcoming filing season.

FBR revises customs values for smart watches imports in Pakistan

May 7, 2026May 7, 2026Hamza Shahnawaz

ISLAMABAD, May 7, 2026 — The Federal Board of Revenue (FBR) has revised customs values for imported smart watches, smart bands and smart rings in a move aimed at curbing under-invoicing and protecting government revenue.

FBR announces mega auction of confiscated vehicles on May 11

May 6, 2026May 6, 2026Faisal Shahnawaz

ISLAMABAD, May 6, 2026 — The Federal Board of Revenue (FBR) has announced a mega auction of confiscated vehicles scheduled for May 11, 2026, in Peshawar.

FBR sets May 20 deadline for customs clearing agents licence applications

May 6, 2026May 6, 2026Shahnawaz Akhter

ISLAMABAD, May 6, 2026 — The Federal Board of Revenue (FBR) has invited applications from eligible individuals for the grant of customs clearing agents licences, setting May 20, 2026, as the deadline for submission.

FBR awards major penalty ‘dismissal from service’ to customs official