Karachi, January 8, 2025 – Karachi, Pakistan’s commercial and financial powerhouse, has once again proven its pivotal role in the national economy, contributing a significant 46% to the Federal Board of Revenue’s (FBR) total revenue collection in the fiscal year 2023-24.
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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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PM Shehbaz Launches Faceless Customs Assessment System
Karachi, January 8, 2025 – Prime Minister Muhammad Shehbaz Sharif launched the Faceless Customs Assessment System at the Karachi Port on Wednesday, marking a significant milestone in Pakistan’s customs operations. This innovative system, part of the Federal Board of Revenue’s (FBR) modernization efforts, was introduced under Shehbaz’s leadership and aims to streamline customs clearance procedures.
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KSE-100 Turns Red with 1,904 Points After PM Visit Misses Mark
Karachi, January 8, 2025 – The KSE-100 Index of the Pakistan Stock Exchange (PSX) witnessed a massive decline of 1,904 points on Wednesday, closing at 114,148 points compared to the previous day’s 116,052 points. The sharp drop followed Prime Minister Shehbaz Sharif’s visit to the stock market, during which no immediate relief measures were announced, leaving investors disappointed.
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FBR ATL Gaps: 38% from 13.45M Registered Taxpayers
Karachi, January 8, 2025 – The Federal Board of Revenue (FBR) has disclosed concerning statistics, revealing that out of 13.45 million registered taxpayers, only 38% are part of the Active Taxpayers List (ATL). This highlights significant gaps in compliance and enforcement.
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FBR, AGPR at Odds Over Special Customs Duty Figures
Islamabad, January 8, 2025 – The Federal Board of Revenue (FBR) has said that Rs 21.3 billion collected as Special Customs Duty (SCD) during fiscal year 2023-24 remains unreconciled with the Accountant General of Pakistan Revenue (AGPR) due to prevailing ambiguities.
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Crafting Budget 2025-26: FBR’s Call for Bold Ideas
Islamabad, January 7, 2025 – The Federal Board of Revenue (FBR) on Tuesday called upon stakeholders to submit their tax proposals for the upcoming Budget 2025-26. This initiative aims to enhance inclusivity and transparency in the budget-making process.
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UAE Extends $2 Billion Debt Roll-Over for Pakistan: PM Shehbaz
Prime Minister Shehbaz Sharif informed the federal cabinet on Tuesday that the United Arab Emirates (UAE) has agreed to roll over a $2 billion debt that was due for repayment by Pakistan this month. In his televised remarks at the start of the cabinet meeting, the prime minister highlighted the outcomes of his recent meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, which took place in Rahim Yar Khan. The discussion focused on ways to deepen bilateral relations and enhance investment cooperation between the two countries.
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LTO Karachi Maintains Top Spot as FBR’s Leading Tax Collector
Karachi, January 7, 2025 – The Large Taxpayers Office (LTO) Karachi has retained its position as the highest tax-collecting office within the Federal Board of Revenue (FBR), contributing a significant 31% to the total inland tax collection for the fiscal year 2023-24.
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Pakistan Bans Import of Polyol Blended with HCFC – 141b – 142b
Islamabad, January 7, 2025 – Pakistan has taken a significant step toward protecting the environment and aligning with international climate commitments by approving a ban on the import of Polyol blended with HCFC-141b and HCFC-142b. The decision was made during a meeting of the Economic Coordination Committee (ECC) of the cabinet, chaired by Finance Minister Muhammad Aurangzeb.
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SHC Directs FBR to Disclose NAB Cases Against Tax Officers
Karachi, January 6, 2025 – The Sindh High Court (SHC) has instructed the Federal Board of Revenue (FBR) to provide detailed information regarding tax officials implicated in cases initiated by the National Accountability Bureau (NAB). This directive highlights the need for transparency and accountability within the FBR.
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