FBR Misses Q1 Revenue Target; Extends Tax Return Deadline to October 15 ISLAMABAD — Pakistan’s Federal Board of Revenue (FBR) fell short of its first-quarter revenue target, collecting Rs2,885 billion against a goal of Rs3,083 billion, missing the mark by Rs199 billion. During the same period, the FBR also issued refunds totaling Rs157 billion. Breaking […]
Pakistan Allows Commercial Import of Old Vehicles with New Restrictions ISLAMABAD — The Ministry of Commerce has given the green light for the commercial import of old vehicles, but under strict conditions. Officials confirmed that all such imports will now be routed through banks and will carry a 40 percent regulatory duty. The Federal Board […]
FBR to Intensify Tax Audits, Remove Market Value Column from Returns Islamabad – The Federal Board of Revenue (FBR) is set to tighten audits of income tax returns filed by the business community, officials confirmed. According to FBR sources, taxpayers who underreport their income, hide wealth, or submit false or misleading details will face strict […]
FBR Warns of Penalties for Missing Income Tax Return Deadline Islamabad – The Federal Board of Revenue (FBR) has warned taxpayers that strict action will be taken against anyone who fails to file their income tax returns by September 30, 2025, the final deadline for submissions. Notifications have been sent via SMS to remind the […]
IMF Urges Faster Resolution of Tax Disputes as Pakistan Pushes for Relief ISLAMABAD – Pakistan has briefed the International Monetary Fund (IMF) on why it missed recent tax collection targets, with officials highlighting flood-related losses and ongoing court cases that have stalled revenue recovery. According to Federal Board of Revenue (FBR) sources, the IMF pressed […]
FBR Targets Tax Evasion Among Jewellers ISLAMABAD – The Federal Board of Revenue (FBR) has launched a crackdown on jewellers across the country amid reports of widespread tax evasion. According to FBR sources, around 20,000 jewellers are registered with the authority, but only half of them — nearly 10,000 — have filed their tax returns. […]
FBR Cracks Down on Social Media Users Flaunting Wealth Without Paying Taxes ISLAMABAD — The Federal Board of Revenue (FBR) is targeting social media users who showcase lavish lifestyles online but have failed to file their income tax returns, according to sources within the tax authority. Insiders revealed that the FBR’s Social Media Monitoring Team […]
No Mini-Budget Planned, Says FBR Chairman Ahead of IMF Visit ISLAMABAD — Amid reports suggesting the government might introduce a mini-budget to fund flood relief through additional taxes on luxury and imported goods, Federal Board of Revenue (FBR) Chairman Muhammad Ashfaq Langrial has dismissed the speculation. “There is no plan to introduce a mini-budget,” Langrial […]
FBR Chief Clarifies Faceless Customs System, Highlights Revenue Gains ISLAMABAD – The Federal Board of Revenue (FBR) chairman has clarified recent reports suggesting irregularities in customs operations, saying they stemmed from a misinterpretation of an initial audit observation. FBR Chief [name] Langrial emphasized that the Faceless Customs System was introduced to boost transparency and prevent […]
FBR Unveils Major Reform Plan to Boost Transparency and Tax Compliance Islamabad – The Federal Board of Revenue (FBR) has rolled out a comprehensive transformation plan aimed at improving transparency, expanding the tax base, and making compliance easier for businesses and citizens. The awareness session was chaired by FBR Chairman Rashid Mahmood and attended by […]
