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 […]
Deadline for Income Tax Returns Extended Till October 15 ISLAMABAD – The federal government has granted taxpayers an additional 15 days to file their Income Tax Returns, extending the deadline to October 15. The Federal Board of Revenue (FBR) confirmed the extension through an official notification. According to FBR sources, around 400,000 taxpayers have already […]
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 […]
PM Approves Removal of New Asset Value Column from Tax Returns Islamabad – The Prime Minister has approved the removal of a new column in the IRIS income tax return that required taxpayers to declare the estimated fair market value of their moveable and immovable assets. A committee, headed by Federal Minister for Law Senator […]
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 […]
IHC Strikes Down Property Tax Hike Notifications ISLAMABAD – The Islamabad High Court (IHC) has approved petitions challenging a recent increase in property taxes, declaring that the Metropolitan Corporation Islamabad (MCI) cannot enforce the hike. Justice Mohsin Akhtar Kayani gave the ruling while hearing petitions filed by Munir Chaudhry and Ahmed Hassan Rana. The case […]
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 […]
Govt Plans New Tax to Fund Jinnah Medical Complex in Islamabad ISLAMABAD — The federal government is preparing to introduce a new municipal tax, likely through a money bill, to help finance the construction of the Jinnah Medical Complex in the capital, sources told reporters. The proposed project carries a hefty price tag of Rs213 […]
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 […]
