Pakistan Revenue
Pakistan Revenue delivers the latest taxation news, covering income tax, sales tax, and customs duty. Stay updated with insights on tax policies, regulations, and financial developments in Pakistan.
Prime Minister directs FBR to settle outstanding tax refunds within two weeks to improve business liquidity and investor confidence Prime Minister Muhammad Shehbaz Sharif on Monday directed the Federal Board of Revenue (FBR) to clear all pending tax refund cases by June 15, 2026, in a significant move aimed at easing liquidity pressures on businesses […]
Continue Reading
Adviser says revised projections reflect macroeconomic changes, denies claims of fiscal shortfall or revenue crisis Pakistan has revised downward the Federal Board of Revenue’s (FBR) tax collection target for fiscal year 2025-26 (FY26) to around Rs13 trillion, down from the original Rs14.13 trillion, according to the Finance Ministry adviser, who said earlier claims of a […]
Continue Reading
Government resists IMF proposal for GST increase as officials weigh revenue measures ahead of federal budget Pakistan is unlikely to raise the General Sales Tax (GST) rate in the federal budget for 2026-27 despite a proposal from the International Monetary Fund (IMF), as authorities remain concerned about the inflationary impact of higher indirect taxes amid […]
Continue Reading
FPCCI leader warns IMF-backed sales tax hike to 19% could further shrink registrations and expand the grey economy KARACHI: Khurram Ijaz, General Secretary and former Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed concern over the declining number of active sales tax registrations in the country, describing it […]
Continue Reading
Tax body urges amendment to align sales tax law with FBR’s digital registration procedures The Karachi Tax Bar Association (KTBA) has highlighted procedural hurdles in the Federal Board of Revenue’s (FBR) online tax system, saying registered taxpayers face difficulties in declaring business bank accounts because the prescribed sales tax registration form is no longer available […]
Continue Reading
Revenue shortfall nears Rs868 billion as tax authorities intensify enforcement efforts before fiscal year-end. Taxpayers are likely to face heightened scrutiny in June as the Federal Board of Revenue (FBR) prepares an aggressive enforcement drive to maximize revenue collection and reduce a substantial shortfall before the close of fiscal year 2025-26.
Continue Reading
Chartered accountants call for lower sales tax rates and wider incentives to boost documentation and expand the sales tax net. The Institute of Chartered Accountants of Pakistan (ICAP) has expressed concern over a decline in active sales tax registrations and urged the government to reduce sales tax rates in the federal budget 2026-27 to encourage […]
Continue Reading
Medium Taxpayers’ Office Karachi surpasses revenue goal with strong income tax and sales tax growth, boosting FBR’s fiscal outlook. The Medium Taxpayers’ Office (MTO) Karachi has exceeded its tax collection target for May 2026, achieving the milestone two days before month-end and delivering a strong boost to the Federal Board of Revenue’s (FBR) revenue performance […]
Continue Reading
Chartered accountants propose comprehensive regulation and taxation framework for cryptocurrencies in Budget 2026-27 to expand tax base and improve oversight. The Institute of Chartered Accountants of Pakistan (ICAP) has urged the government to introduce a comprehensive taxation and regulatory framework for crypto assets in the upcoming Budget 2026-27, citing rapid growth in digital asset adoption […]
Continue Reading
Chartered accountants seek revision of outdated cash payment thresholds to reflect inflation and ease compliance burden on businesses. The Institute of Chartered Accountants of Pakistan (ICAP) has proposed increasing cash transaction limits for salary payments and other business expenditures through amendments to the Income Tax Ordinance, 2001, as part of its recommendations for the federal […]
Continue Reading