Karachi, February 25, 2025 – The Federal Board of Revenue (FBR) has announced the establishment of a Centralized Customs Examination Unit (CEU) in Karachi to enhance the efficiency of customs operations, ensure transparency, and expedite the clearance of goods.
(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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Windfall Tax Issue Remains in Lahore High Court: MCB Bank
Karachi, February 24, 2025 – MCB Bank has confirmed that the windfall tax issue remains sub judice before the Lahore High Court, as the bank has successfully secured a stay order.
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FPCCI Proposes Advance Tax Removal on First Property Purchase
Karachi, February 24, 2025 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has put forward a proposal urging the government to eliminate the advance tax levied on the first purchase of property.
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PBC Urges Limiting Car Purchases to Curb Benami Transactions
Karachi, February 24, 2025 – The Pakistan Business Council (PBC) has urged the Federal Board of Revenue (FBR) to introduce restrictions on the number of vehicles an individual can purchase in order to curb benami transactions.
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Deadline Announced for January CGT Payment
Karachi, February 24, 2025 – The deadline for the payment of capital gains tax (CGT) on the disposal of shares at the Pakistan Stock Exchange (PSX) has been officially notified, urging all stakeholders to ensure compliance with the set timeline.
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FBR Collects Key Provincial Data to Expand Tax Base
Islamabad, February 23, 2025 – The Federal Board of Revenue (FBR) has collected crucial provincial data to broaden the tax base and identify high-net-worth individuals who may not be fully contributing to national revenue.
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Aurangzeb Assures Businesses of Fair Taxation
Islamabad, February 23, 2025 – Federal Finance Minister Muhammad Aurangzeb has reaffirmed the government’s commitment to fair taxation and essential economic reforms, assuring the business community that their concerns will be addressed transparently.
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Tax Collection from Retailers Surges 98% in 7MFY25
Islamabad, February 22, 2025 – Tax collection from retailers has witnessed an unprecedented increase of 98% during the first seven months (July – January) of the ongoing fiscal year 2024-25, according to sources from the Federal Board of Revenue (FBR). This significant rise highlights the growing tax compliance and enforcement measures implemented in recent months.
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PTBA Urges CJP to Implement Video Link Facility for Tax Cases
Karachi, February 22, 2025 – The Pakistan Tax Bar Association (PTBA) has formally appealed to the Chief Justice of Pakistan, Justice Yahya Afridi, to introduce a video link conference facility at all high courts to facilitate taxpayers in tax-related legal proceedings.
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Banks Pay Rs 25 Billion Windfall Tax After Petition Dismissal
Islamabad – Banks have collectively remitted Rs 25 billion in windfall tax to the Federal Board of Revenue (FBR) following the dismissal of their petition by the Sindh High Court (SHC), official sources disclosed on Friday.
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