Karachi, March 26, 2025 – The Karachi Customs Agents Association (KCAA) has voiced serious concerns over the persistent delays in the review process for Goods Declaration (GD) filings related to consignment clearance.
(more…)Category: Taxation
Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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Cashew Nut Valuation in Pakistan Revised by Customs Authority
Karachi, March 26, 2025 – The Directorate General of Customs Valuation in Pakistan has issued a revised ruling on the customs valuation of cashew nuts, aiming to standardize import duties and taxes.
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Nestlé Pakistan Attributes CY24 Revenue Decline to Higher GST
Karachi, March 26, 2025 – Nestlé Pakistan has attributed its revenue decline for the calendar year 2024 to the higher rate of General Sales Tax (GST). The company cited the increased tax burden as a key factor impacting its financial performance.
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LTO Karachi Seals Collectibles Outlets Over Sales Tax Fraud
Karachi, March 25, 2025 – The Large Taxpayers Office (LTO) Karachi has taken decisive action against M/s. Collectibles, a well-known luxury watch retailer, by sealing four of its registered outlets over alleged sales tax fraud.
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FBR Establishes STRAW, Transfers 11 BS-21 IRS Officers
Islamabad, March 25, 2025 – The Federal Board of Revenue (FBR) has announced the establishment of the Strategic Tariff and Revenue Analysis Wing (STRAW) and has subsequently transferred 11 senior Inland Revenue Service (IRS) officers in BS-21 to this newly created division.
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FBR Issues Methodology for Settlement of Classification Disputes
Karachi, March 25, 2025 – The Federal Board of Revenue (FBR) has introduced a revised methodology to streamline the resolution of classification disputes in the customs domain.
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FBR’s Tax Collection Window to Close for Eid-ul-Fitr Holidays
Islamabad, March 25, 2025 – The Federal Board of Revenue (FBR) has announced that its tax collection window will remain closed during the public holidays declared by the federal government for Eid-ul-Fitr.
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Will the Salaried Class Receive Tax Relief in Budget 2025-26?
The upcoming federal budget for the fiscal year 2025-26, set to be presented in the first week of June 2025, is unlikely to bring any significant tax relief for the salaried class.
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Lowering Tax Targets to Ease Burden on Industry: KATI
Karachi, March 24, 2025 – The Korangi Association of Trade and Industry (KATI) has welcomed the reduction in the tax target for the fiscal year 2024-25, considering it a crucial step to alleviate the burden on the industrial sector. KATI emphasized that such measures would contribute to economic stability and business sustainability.
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SDPI Unmasks Tobacco Industry’s Economic Manipulations
Islamabad, March 24, 2025 – Dr. Waseem Iftikhar Janjua, Senior Advisor at the Sustainable Development Policy Institute (SDPI), has raised serious concerns regarding the manipulative tactics employed by the tobacco industry, particularly in tax evasion and policy influence.
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