Sales tax concessions on reduced rates surge to Rs636 billion: FBR
Tax expenditure report shows 70% jump in reduced-rate sales tax concessions despite efforts to curtail tax expenditures
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Tag: exemption
Finance Ministry issues major errata to tax expenditure report
Islamabad, July 2, 2025 – In an unexpected twist that has stirred both curiosity and criticism, the Finance Ministry has issued a formal errata to its tax expenditure report for the fiscal year 2024-25, drastically revising earlier figures and raising questions about transparency in budget formulation.
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MNAs rally behind continued tax exemption for FATA and PATA
Islamabad, June 26, 2025 – A powerful chorus of voices echoed through the National Assembly on Thursday as Members of the National Assembly (MNAs) united in their call for the continuation of the tax exemption for the merged tribal districts—formerly known as FATA—and the Provincially Administered Tribal Areas (PATA).
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Pakistan’s tax exemptions skyrocket to Rs5.84 trillion FY25
Islamabad, June 9, 2025 – Pakistan’s tax exemptions and concessions have soared to a record Rs5.84 trillion during the fiscal year 2024-25, as revealed in the Economic Survey of Pakistan 2024-25 launched today by Finance Minister Mohammad Aurangzeb.
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FBR Extends Rs 41 Billion Tax Bonanza to Power Sector
Karachi, August 11, 2024 – In a move that is likely to raise eyebrows, the Federal Board of Revenue (FBR) has extended tax concessions worth a staggering Rs 41 billion to the power sector for the tax year 2024.
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FBR Releases List of Income Tax-Exempt Entities for 2024
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of entities entitled to income tax exemption for the tax year 2024.
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Pakistan Aims to Eliminate Tax Exemptions for Fiscal Sustainability
Islamabad, October 31, 2023 – In a bid to achieve long-term fiscal sustainability, Pakistan has set its sights on eliminating tax exemptions.
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Pakistan Extends Rs30 Billion Tax Exemption to Foreigners on Profit from Debt
Karachi, August 17, 2023 – In a bid to attract foreign investment and bolster the economy, Pakistan has granted a significant income tax exemption exceeding Rs30 billion to foreign entities for profits generated from debt during the fiscal year 2022-23.
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Pakistan Exempts Imports By Dignitaries of UAE, Qatar, Bahrain and Saudi Arabia
Karachi, July 13, 2023 – Pakistan has allowed exemption from customs duty on imports by dignitaries of UAE, Qatar, Bahrain and Saudi Arabia during 2023-24 and onwards.
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Tax Exemptions Introduced for Qualified Investments under Foreign Investment Act
The Finance Bill 2023 has brought forth a new section, 44A, to the Income Tax Ordinance, 2001. This section provides exemptions for taxes on income, withholding taxes, minimum and final taxes, as well as certain provisions of the Ordinance, for qualified investments as specified in the Foreign Investment (Promotion and Protection) Act, 2022.
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