Tag: Federal Board of Revenue

For tax year 2026, the Income Tax Ordinance, 2001 (updated) prescribes strict penalties for failure to file a return of income.

Islamabad, January 2, 2026 – The Federal Board of Revenue (FBR) has confirmed that it has initiated desk-based tax audits of exporters, clarifying that the process is routine and aimed at ensuring compliance with existing tax laws.

Islamabad, January 1, 2026 – The Federal Board of Revenue (FBR) has reported a revenue shortfall of over Rs336 billion during the first half (July–December) of fiscal year 2025-26, raising concerns over meeting Pakistan’s full-year fiscal targets.

For tax year 2026, taxpayer registration is mandatory for every person in Pakistan. Failing to register may create hassles in obtaining essential services, such as utility connections, loans, or operating e-commerce platforms.

The Federal Board of Revenue (FBR) in Pakistan has been granted extensive audit powers under Section 177 of the Income Tax Ordinance, 2001, updated for tax year 2026. Taxpayers must understand these powers to ensure compliance and avoid disputes.

Pakistan’s tax landscape is rapidly evolving, and NADRA is no longer limited to issuing CNICs. Under the Income Tax Ordinance, 2001, NADRA has been empowered to share data, analyze wealth patterns, and even compute indicative tax liability, making it a powerful partner of the Federal Board of Revenue (FBR).

Islamabad, December 31, 2025 — The Federal Board of Revenue (FBR) on Wednesday announced the demotion of a senior Inland Revenue Service (IRS) officer in BS-20 after disciplinary proceedings established charges of inefficiency and misconduct, following orders from the Prime Minister.

Islamabad, December 31, 2025 — The Federal Board of Revenue (FBR) has initiated a comprehensive scrutiny exercise targeting exporters after observing a significant decline in their declared taxable income for the tax year 2025. This move aims to ensure compliance with updated tax regulations and curb potential revenue losses.

Islamabad – Traders in the federal capital on Tuesday staged a protest against the Federal Board of Revenue’s (FBR) move to install Point of Sale (POS) devices at retail outlets, calling the policy a “black law” and demanding its immediate withdrawal.

With Pakistan’s tax system rapidly going digital, the Federal Board of Revenue (FBR) has significantly expanded its ability to access real-time digital data of taxpayers in tax year 2026. If you think your financial footprint is limited to tax returns only—think again.