Karachi, April 13, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has strongly urged the federal government to eliminate the Value Added Tax (VAT) for commercial importers in the forthcoming federal budget for the fiscal year 2025-26.
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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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Chinese Smartphones, Laptops Get U.S. Tariff Exemption
In a significant shift in trade policy, the U.S. Customs and Border Protection announced late Friday that smartphones, computers, and other key electronic devices imported from China will be exempted from the country’s previously imposed “reciprocal tariffs.”
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Government Plans Tax Relief Despite IMF-Driven Constraints
Karachi, April 12, 2025 – Special Assistant to Prime Minister (SAPM) for Industries and Production Division, Haroon Akhtar Khan, unveiled an ambitious plan to reduce Pakistan’s corporate tax burden despite the constraints posed by the International Monetary Fund (IMF) program.
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KCCI Proposes Allowing Gold Exports with 20% Value Addition
Karachi, April 12, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the federal government to permit gold exports with at least 20% value addition, a move it believes will revitalize the stagnant precious metals sector and significantly boost export revenues.
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FBR Issues SRO for ICC Tax Exemption
Islamabad, April 12, 2025 – The Federal Board of Revenue (FBR) has officially issued a Statutory Regulatory Order (SRO) granting tax exemption on income earned by the International Cricket Council (ICC) and its officials from the ICC Champions Trophy 2025, held in Pakistan.
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China Raises Customs Tariffs to 125% on U.S. Goods
BEIJING, China, April 11, 2025 – In a strong response to escalating trade tensions, China announced on Friday that it will increase additional customs tariffs on a wide range of U.S. imports to a staggering 125%, effective Saturday.
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FBR Issues Procedure for Integration into Digital Invoicing System
Islamabad, April 11, 2025 – The Federal Board of Revenue (FBR) has officially released a comprehensive procedure to facilitate the integration of businesses into its digital invoicing system, as part of its ongoing efforts to enhance transparency and compliance in the tax ecosystem.
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IRIS Glitches Prompt KCCI to Seek PM Shehbaz’s Intervention
Karachi, April 11, 2025 – Frustrated by persistent technical failures in the Federal Board of Revenue’s (FBR) IRIS portal, the Karachi Chamber of Commerce and Industry (KCCI) has formally appealed to Prime Minister Shehbaz Sharif for immediate intervention to address the growing tax compliance crisis facing the business community.
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KCCI Suggests Tax Exemption for Properties up to Rs 10 Million
Karachi, April 11, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has proposed a significant tax reform aimed at revitalizing the real estate sector by suggesting income tax exemption on immovable properties valued up to Rs 10 million.
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Top IRS Officer Dismissed Over Fraud, Misconduct Charges
Islamabad, April 11, 2025 – A senior officer of the Inland Revenue Service (IRS), holding the position of BS-20, has been awarded the major penalty of dismissal from service following a comprehensive disciplinary process.
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