Karachi, June 8, 2025 — The Overseas Investors Chamber of Commerce and Industry (OICCI) has raised serious concerns over the mounting economic damage inflicted on Pakistan due to illicit and undocumented trade with India.
(more…)Tag: budget proposals
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Foreign giants pressure Pakistan to slash tobacco taxes in budget
Karachi, June 8, 2025 — As the countdown to Budget 2025-26 intensifies, foreign tobacco players have launched a high-stakes pressure campaign on Pakistan, demanding the government roll back tax rates on deadly tobacco products — a move that could spell disaster for public health and national finances alike.
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FBR plans to block ATL benefits for nil filers in 2025-26 budget
In a decisive move to tighten the noose around tax dodgers, the Federal Board of Revenue (FBR) has finalized a groundbreaking legal proposal aimed squarely at ‘nil filers’ — individuals and entities who submit income tax returns with zero declared income solely to gain benefits of the Active Taxpayers List (ATL).
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Budget 2025-26: Government targets freelancers with new tax plan
Islamabad, June 7, 2025 — The federal government is preparing to bring freelancers under the tax radar as part of major fiscal reforms in the upcoming budget for 2025-26, scheduled to be presented on June 10.
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FED on properties may be abolished in Budget 2025-26
Islamabad, June 7, 2025 – The Federal Excise Duty (FED) imposed on the transaction of immovable properties is likely to be abolished in the upcoming federal budget for 2025-26, expected to be presented on June 10.
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Budget 2025–26: salary and pension increases under review
ISLAMABAD, June 7, 2025 – The federal government is actively reviewing proposals to increase salary and pension for government employees in the upcoming Budget 2025–26, despite tight fiscal space and growing pressure from coalition partners.
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Budget Shock 2025-26: tax on cash withdrawal set to double
ISLAMABAD – In what is being dubbed a bombshell ahead of the federal budget 2025-26, the government of Pakistan is reportedly set to double the withholding tax on cash withdrawal from banks, a move that could shake businesses and individuals alike.
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Pakistan’s corporate tax burden highest in Asian region: KTBA
Karachi, June 6, 2025 – The Karachi Tax Bar Association (KTBA) has called on the federal government to lower Pakistan’s corporate tax rate, highlighting that it is currently the highest in Asia.
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FBR considers GST on cross-border online sales in FY26 Budget
ISLAMABAD, June 6, 2025 – The Federal Board of Revenue (FBR) is actively exploring the imposition of General Sales Tax (GST) on cross-border online sales as part of the upcoming budget for 2025–26.
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ICMAP summarizes tax suggestions for June 10 Budget 2025–26
Karachi, June 5, 2025 – With the Federal Budget 2025–26 set to be unveiled on June 10, the Institute of Cost and Management Accountants of Pakistan (ICMAP) has reiterated its detailed tax policy proposals submitted earlier to the Federal Board of Revenue (FBR).
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