Karachi, August 11, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) surged on Monday, continuing its record-breaking momentum and closing just shy of the 147,000 mark.
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Find top stories in this section. Pakistan Revenue brings you the latest and most important news from Pakistan and around the world, keeping you informed with key updates and insights.
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Banks and tax fraud: FBR ends long-standing immunity
Karachi, August 10, 2025 – In a major crackdown on financial malpractice, the Federal Board of Revenue (FBR) has shattered the long-standing belief that banks are immune from legal consequences when involved in tax fraud.
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Sindh ranks first in sales tax collection FY25
Islamabad, August 10, 2025 – Sindh has emerged as the top-performing province in Pakistan for the collection of sales tax on services during the fiscal year 2024-25, surpassing all other provinces in both revenue and growth rate.
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FTO orders IP address probe in major sales tax fraud case
Islamabad, August 9, 2025 – The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to investigate IP addresses linked to a high-profile sales tax fraud case involving fake invoices worth millions.
According to the complaint, a 68-year-old commercial importer, registered for sales tax since August 2008, discovered the fraud while attempting to file his April 2025 return. Cybercriminals allegedly hacked his credentials, altered official records, and filed a falsified sales tax return showing fake supplies of Rs. 133.125 million, leading to a GST impact of Rs. 23.962 million. The transactions were traced to Rafi Enterprises, a taxpayer in RTO Quetta.
Investigators found that multiple IP addresses—originating from Battagram, Islamabad, and Frankfurt—were used to execute the fraud, likely via VPN services to mask identities. Despite repeated notices, internet providers have not disclosed subscriber details. The FTO emphasized that tracking such sophisticated cybercrime requires advanced technical capabilities currently lacking in FBR and PRAL.
The inquiry concluded that the beneficiary knowingly purchased fake invoices to evade sales tax, violating Section 73 of the Sales Tax Act. The FTO urged FBR to initiate FIRs and prosecute all parties involved in the fraud under relevant laws, as well as to strengthen monitoring systems to prevent future misuse of taxpayer credentials.
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LTO Karachi recovers Rs4 billion CVT from foreign assets
KARACHI, August 8, 2025 — In a stunning fiscal triumph, the Large Taxpayers Office (LTO) Karachi has unleashed its enforcement might, recovering a jaw-dropping Rs4 billion in Capital Value Tax (CVT) from foreign assets during the 2024-25 fiscal year.
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FBR slams media for misleading reports on FCA
Islamabad, August 7, 2025 — In a blistering rebuttal, the Federal Board of Revenue (FBR) has condemned what it calls a “malicious media campaign” aimed at sabotaging Pakistan Customs’ groundbreaking Faceless Customs Assessment (FCA) system.
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FBR issues procedure for tax fraud probe under Section 37A
Islamabad, August 7, 2025 – The Federal Board of Revenue (FBR) on Thursday issued procedure for initiating tax fraud investigation under Section 37A of the Sales Tax Act, 1990.
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Pakistan’s trade deficit widens by 44% in July 2025
ISLAMABAD, August 6, 2025 – Pakistan recorded a sharp increase in its trade deficit in July 2025, driven largely by a substantial rise in import payments.
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PM Shehbaz orders red tape removal to accelerate FBR reforms
Islamabad, August 5, 2025 – Prime Minister Muhammad Shehbaz Sharif on Tuesday directed the immediate removal of red tape and institutional hurdles to ensure the permanent and effective implementation of wide-ranging reforms within the Federal Board of Revenue (FBR).
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Pakistan posts 9-year low fiscal deficit in FY25
Karachi, August 5, 2025 – In a significant fiscal milestone, Pakistan has posted its lowest fiscal deficit in nine years, clocking in at 5.38% of GDP during the fiscal year 2024-25 (FY25).
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