Islamabad, February 22, 2025 – Tax collection from retailers has witnessed an unprecedented increase of 98% during the first seven months (July – January) of the ongoing fiscal year 2024-25, according to sources from the Federal Board of Revenue (FBR). This significant rise highlights the growing tax compliance and enforcement measures implemented in recent months.
(more…)Category: Top stories
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.
-
Banks Pay Rs 25 Billion Windfall Tax After Petition Dismissal
Islamabad – Banks have collectively remitted Rs 25 billion in windfall tax to the Federal Board of Revenue (FBR) following the dismissal of their petition by the Sindh High Court (SHC), official sources disclosed on Friday.
(more…) -
Weekly Inflation Surges Ahead of Ramadan, Sugar Hits Rs 155/kg
Islamabad, February 21, 2025 – Inflation continues to rise sharply ahead of the holy month of Ramadan, with sugar prices reaching Rs 155.27 per kilogram. The latest figures from the Pakistan Bureau of Statistics (PBS) show that the Sensitive Price Indicator (SPI) recorded a 0.27% increase for the week ending February 20, 2025, compared to the previous week.
(more…) -
Property Tax Collection Rises to Rs 130B Amid Policy Changes
Islamabad, February 21, 2025 – Pakistan’s tax collection from property transactions has surged to Rs 130 billion during the first seven months (July–January) of the fiscal year 2024-25, according to sources within the Federal Board of Revenue (FBR).
(more…) -
Foreign Banks Withdraw $165 Million from Pakistan
Karachi, February 21, 2025 – Foreign banks operating in Pakistan have repatriated a substantial amount of $165 million in profits and dividends during the first seven months (July–January) of the fiscal year 2024-25, according to a report released by the State Bank of Pakistan (SBP).
(more…) -
ECC Approves Tax Exemption for ICC Champions Trophy Income
Islamabad, February 20, 2025 – The Economic Coordination Committee (ECC) of the Cabinet, in a meeting on Friday, granted approval for a tax exemption on the income generated by the International Cricket Council (ICC) from the ICC Champions Trophy 2025.
(more…) -
FBR Misses Deadline for Notifying 2025 Income Tax Return Forms
Karachi, February 20, 2025 – The Federal Board of Revenue (FBR) has failed to meet the deadline for notifying the finalized FBR return forms for income tax year 2025, raising concerns among taxpayers and experts regarding compliance and regulatory adherence.
(more…) -
Aurangzeb Urges Taxation of Free-Riders to Stabilize Economy
Islamabad, February 20, 2025 – Finance Minister Muhammad Aurangzeb has underscored the urgent need to bring the undocumented economy into the tax net, warning that Pakistan can no longer afford to sustain “free riders” who evade taxation.
(more…) -
FBR Issues New Directives After Faulty Assessment Orders
Karachi, February 19, 2025 – The Federal Board of Revenue (FBR) has expressed serious concerns regarding the incompetence of Inland Revenue (IR) officers in issuing flawed assessment orders, which have led to an increase in frivolous litigation.
(more…) -
Pakistan Gold Prices Hit All-time High of Rs 308,000 per Tola
Karachi, February 19, 2025 – Gold prices in Pakistan soared to an all-time high of Rs 308,000 per tola on Wednesday, driven by a sharp rally in the international bullion markets.
(more…)