The launch of Faceless Customs Assessment (FCA) is nothing short of a revolution—one that’s shaking the foundations of the deeply entrenched system of corruption and malpractice in Pakistan’s import-export sector.
(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.
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Hyderabad Customs to auction seized NDP vehicles in June
Hyderabad, June 1, 2025 – Hyderabad Customs has officially announced the auction of various non-duty paid (NDP) vehicles that were previously seized for customs violations.
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KCCI endorses faceless customs, calls nationwide implementation
Karachi, June 1, 2025 – The Karachi Chamber of Commerce and Industry (KCCI) has extended its full support for the Faceless Customs Assessment (FCA) system and has urged the federal government to accelerate its expansion across all ports and customs stations in Pakistan.
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FBR records 168% growth in CGT collection amid PSX boom
Karachi, June 1, 2025 – The Federal Board of Revenue (FBR) has reported an exceptional 168% surge in Capital Gain Tax (CGT) collection from the disposal of securities during the first 10 months (July–April) of the fiscal year 2024–25.
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ICAP recommends WHT on royalty payments to local recipients
Karachi, June 1, 2025 – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed the introduction of a structured withholding tax (WHT) mechanism on royalty payments made to resident individuals and entities.
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IMF presses FBR to offset salaried class tax relief in FY26 budget
The International Monetary Fund (IMF) has asked the Federal Board of Revenue (FBR) to submit alternate taxation proposals if the government proceeds with its planned tax relief for the salaried class in the upcoming federal budget for 2025–26.
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Sindh opposes IMF proposal for increased agricultural taxes
Karachi, June 1, 2025 – The Sindh government has firmly opposed the latest demand by the International Monetary Fund (IMF) to impose more taxes on the agricultural sector, warning that such measures could severely harm farmers and threaten the country’s food security.
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Lahore High Court issues landmark ruling on tax recovery
Lahore, June 1, 2025 – The Lahore High Court has issued a detailed judgment clarifying the legal process regarding the recovery of tax arrears and the initiation of criminal proceedings against taxpayers.
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PTBA seeks deadline extension for corporate taxpayer integration
Karachi, May 31, 2025 – The Pakistan Tax Bar Association (PTBA) has formally requested the Federal Board of Revenue (FBR) to extend the deadline for corporate taxpayers to complete their integration with the FBR’s electronic system. The current deadline is set to expire on June 1, 2025.
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ICAP suggests banking transaction monitoring for tax broadening
Karachi, May 31, 2025 – The Institute of Chartered Accountants of Pakistan (ICAP) has urged the Federal Board of Revenue (FBR) to intensify monitoring of high-value banking transactions as a core strategy for the broadening of the tax base.
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