Karachi, May 29, 2025 — As the countdown begins for the presentation of Budget 2025-26 on June 10, economic analysts anticipate a challenging fiscal blueprint aimed at aggressive revenue mobilization amid low inflation and sluggish GDP growth.
(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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FBR imposes major penalty on four customs officials for negligence
Islamabad, May 26, 2025 — The Federal Board of Revenue (FBR) has concluded disciplinary proceedings against four officials from the Collectorate of Customs Sambrial, Sialkot, in a high-profile misdeclaration case involving import transshipment TP No. KPPO-TP-24787 dated November 6, 2024.
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KTBA pushes for zero-rated sales tax on NPOs in budget 2025–26
Karachi, May 29, 2025 – In a major policy recommendation ahead of the upcoming federal budget, the Karachi Tax Bar Association (KTBA) has called on the government to introduce zero-rated sales tax for all Non-Profit Organizations (NPOs), particularly those engaged in critical public welfare services like healthcare and education.
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Pakistan, IMF deliberate FY26 budget measures to raise revenues
The government of Pakistan has entered into critical discussions with the International Monetary Fund (IMF) regarding fiscal reforms to be incorporated in the upcoming federal budget for FY2025-26, with a central focus on bolstering tax collection and reducing the widening fiscal deficit.
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ICAP demands ironclad customs to defend CPEC integrity
Karachi, May 29, 2025 — The Institute of Chartered Accountants of Pakistan (ICAP) has presented a comprehensive set of proposals for the upcoming federal budget 2025–26 aimed at eliminating smuggling and illegal trade along the China-Pakistan Economic Corridor (CPEC).
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FCA crumbles under scrutiny, customs committee sounds alarm
Karachi, May 28, 2025 – In a dramatic turn of events, a key committee within Pakistan Customs has delivered a stunning blow to the controversial Faceless Customs Assessment (FCA) system, declaring it a failure and recommending its immediate suspension.
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ICAP calls for automated tax refund credit system in FY26 budget
Karachi, May 28, 2025 – In a powerful push for fiscal reform, the Institute of Chartered Accountants of Pakistan (ICAP) has proposed the introduction of a fully automated tax refund credit system in the federal budget for 2025-26.
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World Bank urges Pakistan: scrap regulatory duty, ACD fast
ISLAMABAD – In a landmark recommendation, the World Bank has urged Pakistan to fully phase out regulatory duties (RDs) and Additional Customs Duties (ACDs), as part of a comprehensive tariff reform agenda aimed at reviving the country’s struggling export sector.
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Luxury car owners panic as FBR plans tax hike in FY26 budget
ISLAMABAD, May 28, 2025 — In a bold and controversial move, the Federal Board of Revenue (FBR) is gearing up to slap luxury cars with significantly higher withholding taxes in the upcoming FY26 federal budget — a decision that could shake Pakistan’s elite automotive market.
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WHO warns Pakistan: raise tobacco tax or face disaster
Islamabad, May 27, 2025 – In a powerful and urgent appeal, the World Health Organization (WHO) has issued a dire warning to Pakistan: raise tobacco tax now or brace for even more staggering human and economic losses.
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