Tax Expenditure Report 2026 says separate estimates do not reflect the total revenue impact of removing all tax concessions.
(more…)Tag: FBR
Get the latest FBR news, tax updates, income tax, sales tax, customs, notifications, and policies from the Federal Board of Revenue.
-
FBR explains new adjustment factors for sales tax exempt local supplies
New three-tier methodology accounts for embedded sales tax in supply chains to provide a more accurate estimate of tax expenditure.
(more…) -
AGP flags Rs3.5 billion in unrecovered FBR penalties, default Surcharges
Audit says thousands of taxpayers escaped penalties for late sales tax returns and delayed tax payments
ISLAMABAD: The Federal Board of Revenue (FBR) failed to impose and recover Rs3.54 billion in FBR penalties and default surcharges from thousands of taxpayers who either filed sales tax returns late or delayed payment of sales tax, according to the latest audit report of the Auditor General of Pakistan (AGP).
(more…) -
FBR to collect taxes first on auctioned goods
New Sales Tax Act provision mandates tax recovery before owners receive auction proceeds and allows electronic public auctions.
(more…) -
FBR raises penalty for late filing of sales tax returns fivefold under Finance Act 2026
ISLAMABAD: The Federal Board of Revenue (FBR) has significantly enhanced penalties for taxpayers failing to file monthly sales tax returns within the prescribed due date, introducing stricter enforcement measures through the Finance Act, 2026.
(more…) -
Finance Act 2026 empowers FBR to order re-audit of taxpayers
Commissioners can direct independent re-audits and inventory re-valuations with prior approval to strengthen sales tax compliance.
(more…) -
LTO Karachi targets 174 taxpayers in foreign assets scrutiny drive
Investigation under AEOI framework targets offshore wealth, foreign income and tax reporting compliance.
(more…) -
FBR doubles NEV adoption levy collection target for FY2025-26
Government expects Rs122 billion from ICE vehicle levy in FY2026-27 to support Pakistan’s transition to cleaner transport.
(more…) -
FBR projects Rs410bn customs duty from petroleum products in FY2026-27
Petroleum products, imported vehicles and electrical machinery are expected to remain the largest contributors to customs duty revenue.
(more…) -
FBR revises sales tax collection mechanism for steel industry
Finance Act 2026 links sales tax collection to electricity consumption and offers lower rates for digitally compliant steel manufacturers.
(more…)