For tax year 2026, the Federal Board of Revenue (FBR) has clarified who qualifies as a liquidator and what legal responsibilities apply when handling assets of a taxpayer. These rules are laid out in Section 141 of the Income Tax Ordinance, 2001, and they impose strict compliance requirements to safeguard government tax revenue.
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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.
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How will FBR recover money held for tax defaulters in tax year 2026?
If you are holding money on behalf of a tax defaulter, tax year 2026 could bring serious consequences for you as well. Under Pakistan’s tax laws, the Federal Board of Revenue (FBR) has the legal authority to recover unpaid taxes directly from third parties who owe or hold money for defaulting taxpayers.
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Karachi Customs confiscates over 64,000 liters of smuggled Iranian fuel in major operation
Karachi, December 21, 2025 — Karachi Customs Enforcement has foiled a large-scale fuel smuggling attempt, confiscating 64,578 litres of smuggled Iranian diesel and petrol during an intelligence-led operation conducted at the Northern Bypass area of Karachi.
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FBR reports 30% drop in Karachi electricity tax collection during 5MFY26
Islamabad, December 20, 2025 – The Federal Board of Revenue (FBR) has reported a significant 30% decline in tax collection from electricity consumption in Karachi during the first five months (July–November) of the fiscal year 2025-26.
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Tax defaulters to face property sale and arrest for FBR recovery
Tax default is no longer a minor compliance issue. Under Pakistan’s tax laws, the Federal Board of Revenue (FBR) holds extensive powers to recover unpaid taxes, including the sale of property and arrest of taxpayers.
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What are tax payment deadlines for tax year 2026? FBR explains
Meeting income tax payment deadlines is critical for taxpayers in Pakistan. Missing a due date can lead to default surcharge, penalties, and enforcement action by the Federal Board of Revenue (FBR).
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LTO Karachi reports unprecedented 475% surge in stock market CGT collections
Karachi, December 19, 2025 — The Large Taxpayers Office (LTO) Karachi has reported a remarkable 475 percent increase in the collection of capital gains tax (CGT) on the disposal of securities during the first five months of the current fiscal year 2025–26, reflecting the strong performance of the Pakistan Stock Exchange (PSX).
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Provisional Tax Assessment in Pakistan: What You Should Know
The Federal Board of Revenue (FBR) holds wide-ranging powers under the Income Tax Ordinance, 2001 to safeguard revenue and address tax evasion. One such important mechanism is the provisional tax assessment, which allows tax authorities to assess income in specific high-risk situations even before a final assessment is issued.
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Why Taxpayers Must Understand the Role of FBR’s Commissioner (Appeals)
For taxpayers in Pakistan, understanding the role of the Commissioner (Appeals) is crucial. This office serves as the first stage of relief when a taxpayer disagrees with an order or decision by the Federal Board of Revenue (FBR). Knowing how to navigate this process can save time, money, and stress in resolving tax disputes.
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Pakistan Customs, Rangers seize smuggled goods worth millions in Karachi’s Sohrab Goth
Islamabad, December 19, 2025 — Pakistan Customs, in collaboration with Pakistan Rangers, carried out a major anti-smuggling operation at Sohrab Goth in Karachi on Friday, confiscating foreign-origin smuggled goods valued at millions of rupees.
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