The cost of imported luxury and non-essential goods in Pakistan has surged sharply, with total taxes reaching as high as 60 percent of the product value. This significant increase is reshaping consumer behavior and putting pressure on import-dependent markets. According to officials from the Federal Board of Revenue, multiple layers of taxation are applied at […]
The Federal Board of Revenue has empowered its intelligence wing with enhanced authority to pursue cases of tax evasion and financial misconduct. The move is aimed at strengthening enforcement and improving compliance across the business sector. Under the new directive, the Director of the Directorate General of Intelligence & Investigation (Inland Revenue) can now approve […]
Pakistan’s Federal Board of Revenue (FBR) has introduced a significant reform aimed at strengthening tax compliance in the rapidly expanding e-commerce sector. Under the new framework, sales tax on goods ordered through digital platforms will now be withheld at source, ensuring more efficient and transparent tax collection. The move places the responsibility of tax deduction […]
Pakistan Customs has recovered gold and luxury items worth approximately Rs. 58 million at Jinnah International Airport, Karachi. Officials confirmed that 1,185 grams of gold jewellery, along with a commercial quantity of cosmetics, perfumes, and designer handbags, were seized from a passenger arriving from the United States at the International Arrivals lounge. The Federal Board […]
In a move aimed at easing the process of government revenue collection, the State Bank of Pakistan (SBP) has announced extended working hours for commercial banks on Saturday, January 31, 2026. The decision has been taken to facilitate taxpayers who wish to make over-the-counter (OTC) payments of government duties and taxes before the deadline. According […]
A major reshuffle in the Federal Board of Revenue (FBR) is on the cards as Pakistan gears up for the presentation of the fiscal year 2025-26 (FY26) budget. This sweeping administrative overhaul is expected to be carried out in the coming weeks and is likely to impact several key positions within the tax machinery. The […]
In a significant policy move aimed at broadening the tax base and increasing revenue, the Federal Board of Revenue (FBR) has announced plans to impose higher taxes on online buying and selling platforms. As e-commerce continues to grow rapidly in the country, the government is turning its attention to digital marketplaces that have, until now, […]
Islamabad, February 12, 2025 – In a positive development for car buyers, Federal Board of Revenue (FBR) Chairman has announced policy changes aimed at reducing car prices for budget-conscious consumers. This move comes as the government pushes for greater accessibility to vehicles while ensuring compliance with tax regulations. Major Announcements for the Auto Industry The […]
Photo Credit: Daily Times The date for filing income tax returns has now been extended to November 30th, 2022. The Federal Board of Revenue (FBR) has achieved their target of Rs. 2.14 trillion in the last four months, however, they are now struggling with keeping the pace amidst the reduction in income tax returns filers. […]
