Islamabad, November 28, 2025 – The Federal Board of Revenue (FBR) has notified updated rules regarding asset declarations by public servants, aiming to improve transparency and ensure proper sharing of financial information between government bodies and banks.
(more…)Category: Taxation
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.
-
SBP directs banks to extend hours for tax collection on November 29
Karachi, November 27, 2025 – The State Bank of Pakistan (SBP) has issued directives instructing commercial banks to observe extended working hours on Saturday, November 29, 2025, to facilitate taxpayers making over-the-counter (OTC) payments of government duties and taxes.
In an official circular, the SBP announced that all Saturday-opening branches of commercial banks — including National Bank of Pakistan (NBP) branches handling customs-related collections — will remain operational from 9:00 A.M. to 5:00 P.M. on the specified date. The move aims to ease taxpayer burden ahead of monthly and quarterly deadlines.
The central bank further stated that NBP branches manually collecting government receipts and payments must ensure same-day settlement with their respective SBP-BSC field offices or head office immediately after completing the same-day clearing process.
To support timely processing, the National Institutional Facilitation Technologies (NIFT) will conduct a Special Clearing at 5:30 P.M. on November 29 for all government-related instruments submitted at bank counters. NIFT will provide the clearing fate of these instruments by 11:30 P.M. on the same day, ensuring smooth reconciliation and settlement of government receipts.
The SBP’s directive follows a recent instruction from the Federal Board of Revenue (FBR), which earlier directed Inland Revenue field offices to observe a normal working day on November 29 to support maximum tax collection before the month-end.
The SBP emphasized that the extended arrangements aim to ensure seamless tax payment processing and enhance convenience for taxpayers across the country.
-
FBR clarifies fair market value rules for tax year 2026
Karachi, November 27, 2025 – The Federal Board of Revenue (FBR) has provided a detailed explanation of fair market value for transactions conducted during tax year 2026 (July 1, 2025, to June 30, 2026).
(more…) -
PM Shehbaz orders two-year increment freeze for BS-20 IRS officer over Inefficiency
Islamabad, November 27, 2025 – Prime Minister Shehbaz Sharif has approved a disciplinary penalty against a senior BS-20 Inland Revenue Service (IRS) officer after charges of inefficiency were proven during an official inquiry. The Prime Minister ordered that the officer’s annual increment be withheld for two years.
(more…) -
FBR welcomes Supreme Court ruling upholding confiscation of vehicle used in smuggling
Islamabad, November 27, 2025 – The Federal Board of Revenue (FBR) has welcomed a landmark judgment by the Supreme Court of Pakistan reaffirming the confiscation of vehicles involved in transporting smuggled goods.
(more…) -
FBR declares Saturday, November 29 as a normal working day to boost revenue
Islamabad, November 26, 2025 – The Federal Board of Revenue (FBR) has announced that Saturday, November 29, 2025, will be treated as a normal working day across all Inland Revenue field formations, despite it being a weekly holiday.
(more…) -
Govt unveils updated fee schedule for Pakistan Single Window services
Islamabad, November 26, 2025 – The federal government has announced a revised fee schedule for services offered under the Pakistan Single Window (PSW) system, aiming to improve transparency and streamline digital trade facilitation.
(more…) -
FBR lowers customs values of nylon yarn amid global price decline
Karachi, November 26, 2025 – The Federal Board of Revenue (FBR) has officially lowered the customs values for nylon yarn imports, reflecting falling international market prices. The move comes as part of the FBR’s ongoing efforts to ensure fair and up-to-date valuation of imported goods.
(more…) -
Why Invest in Pakistan? The Big Attraction of Tax Credit Incentives
Islamabad, November 26, 2025 – Thinking about investing in Pakistan’s industrial sector? There’s a powerful reason many companies find it appealing: generous tax credits that significantly reduce the cost of expansion and modernization.
(more…) -
Did You Know How Much Tax Credit Pakistan Offers for Employment Generation?
Islamabad, November 26, 2025 – Pakistan continues to offer an important tax incentive aimed at boosting industrial activity and creating jobs across the country.
(more…)