Resident individuals and AOP members required to submit wealth statement and reconciliation; incomplete returns may be treated as invalid
(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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FBR exempts certain individuals from filing income tax returns for TY 2026
Section 115 provides limited exemption for widows, orphans, disabled persons and certain non-residents where the filing obligation arises solely from ownership of specified assets.
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FBR makes physical inspection undertaking mandatory for Customs auction bidders
Draft amendments require bidders to confirm physical inspection of auctioned goods before participating in Customs auctions
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FBR clarifies printing rules for confectionery
Small chocolates, candies and toffees priced up to Rs5 per piece may display retail price and sales tax on packs of up to 100 pieces.
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Pakistan income tax framework: FBR defines taxation yardstick
Benchmark framework distinguishes core features of Pakistan’s income tax system from tax expenditures and preferential concessions.
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Taxpayers face utility, SIM and travel restrictions for failure to file tax returns
Section 114B empowers the FBR to impose enforcement measures on eligible non-filers after due legal process.
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FBR specifies documents required with tax year 2026 income tax returns
Electronic filing through the IRIS portal remains mandatory, while companies must submit financial statements in a machine-readable format.
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FBR makes tax return filing mandatory for wider range of taxpayers for TY 2026
New filing rules extend tax return obligation to property owners, vehicle owners, registered professionals and other specified taxpayers.
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FBR chairman assures business community of faster tax reforms and refunds
FPCCI and Pakistan Business Council discuss taxpayer concerns, transparency, and business-friendly reforms with FBR under Prime Minister’s directives.
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FBR issues three STGOs to ease compliance for iron, steel sector
New sales tax orders support voluntary corporatization, correct registrations, and identify 99 eligible steel manufacturers.
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