Tax Ombudsman declares recovery action maladministration, orders restoration of frozen accounts and disposal of pending tax appeal within 40 days.
(more…)Tag: Federal Board of Revenue
The Federal Board of Revenue is Pakistan’s apex tax agency, overseeing tax collection and policies. Pakistan Revenue is committed to providing timely updates on the Federal Board of Revenue to its readers.
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LTO Karachi shatters records by collecting Rs3.61 trillion in FY2025-26
FBR’s largest tax office posts record net revenue as direct taxes, sales tax and Federal Excise Duty collections register strong growth despite economic challenges.
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FBR revises FED rates on air travel services under updated Federal Excise Act
New federal excise duty structure applies to domestic and international air passenger travel under amended tax law
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FBR mandates brand licences for each SKU under updated Federal Excise Act
Unlicensed brands and stock keeping units to be treated as counterfeit goods liable to confiscation and destruction
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FBR notifies jurisdiction of CCIR at CTO-II Karachi
Tax authority assigns powers to Chief Commissioner and six Commissioners following the redesignation of MTO Karachi as CTO-II.
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FBR abolishes CTO Islamabad, renames MTO Karachi as CTO-II
Tax authority restructures Inland Revenue field formations by establishing RTO-II Lahore and reorganising corporate tax administration.
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FBR imposes FED of Rs16,500 per kg on e-cigarette liquids
Updated Federal Excise Act 2005 introduces new duty on E-liquids used in electric cigarette kits from June 30, 2026
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FBR expands powers to conduct electronic audits under updated Federal Excise Act
Amended law introduces virtual audit proceedings, voluntary tax settlement incentives and stronger enforcement powers
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FBR introduces new sales tax exemptions for FY2026-27
Finance Act, 2026 expands the list of exempt goods and imports, including sanitary products, contraceptives, selected vessels and bulletproof vehicles.
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Pakistan cuts corporate tax rate for banks to 42% in FY27
Reduced tax rate takes effect from January 1, 2026, while tax rates for small companies and other corporate entities remain unchanged.
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