Tag: FBR

If you have filed your income tax return for tax year 2025, understanding how the Federal Board of Revenue (FBR) assesses your declaration is crucial. Many taxpayers believe filing a return ends their responsibility—but under Pakistan’s tax law, filing is only the beginning of the assessment process.

If you are a resident taxpayer in Pakistan with overseas income or assets, filing a foreign income and assets statement is not optional—it is a legal obligation under the Income Tax Ordinance, 2001. Failure to comply can trigger enforcement action by the Federal Board of Revenue (FBR), especially from tax year 2026 onward.

Filing an accurate wealth statement is not just a formality—it is a legal requirement that can protect you from scrutiny, penalties, and enforcement action by the Federal Board of Revenue (FBR). Under the Income Tax Ordinance, 2001, the FBR has clearly defined what a valid wealth statement must include for each tax year.

If you did not file your tax return for 2025, you could face serious restrictions from the Federal Board of Revenue (FBR). The Income Tax Ordinance, 2001 empowers the FBR under Section 114C to limit economic transactions of non-filers, ensuring compliance and discouraging tax evasion.

The Federal Board of Revenue (FBR) has significant authority to ensure compliance with tax filing obligations in Pakistan. With tax year 2025 filing mostly concluded, except for corporate returns due on December 31, 2025, it is important for taxpayers to understand what actions the FBR can take if returns are not filed on time.

Corporate taxation in Pakistan can be complex, and businesses need to stay informed to comply effectively. One important provision that companies should be aware of for tax year 2026 is the Alternative Corporate Tax (ACT), governed under Section 113C of the Income Tax Ordinance, 2001.

As Pakistan enters Tax Year 2026, businesses and high-turnover individuals must once again evaluate whether minimum tax under Section 113 applies to them. Even if your business reports losses or enjoys exemptions, minimum tax may still be payable. Here’s a simple, interactive breakdown to help you understand when and how it applies.

Karachi, December 16, 2025 — The Federal Board of Revenue (FBR) has imposed a major penalty on a customs official for professional negligence and submission of a false examination report, resulting in potential loss to the government exchequer.

Islamabad, December 16, 2025 — The Federal Board of Revenue (FBR) on Tuesday announced the deferment of newly notified valuation tables for immovable properties in Islamabad until January 31, 2026, or until the issuance of a revised Statutory Regulatory Order (SRO), whichever comes earlier.

Islamabad, December 16, 2025 – Traders in the federal capital have rejected the Federal Board of Revenue’s (FBR) recent increase in property valuation rates, warning of a protest and sit-in outside FBR House on December 22 if the controversial notification is not withdrawn.