The Federal Board of Revenue’s (FBR) revenue shortfall widened to Rs868 billion during the first 11 months of the current fiscal year 2025-26. The FBR collected Rs11,227 billion during July-May against the revised target of Rs12,095 billion, leaving a gap of Rs868 billion. “There are two major reasons, including sluggish economic activities due to the […]
FBR
FBR offices to remain open on May 23-24 for tax collection
The Federal Board of Revenue (FBR) on Tuesday said that all its field formations across the country will remain open on Saturday and Sunday, May 23 and 24, 2026, for collection of duties and taxes. According to an official statement issued by the FBR, all Large Taxpayers’ Offices (LTOs), Medium Taxpayers’ Offices (MTOs), Corporate Tax […]
IMF seeks additional taxes ahead of Pakistan’s budget negotiations for fiscal year 2026-27
Pakistan’s budget negotiations for fiscal year 2026-27 have entered a crucial phase as the International Monetary Fund (IMF) has reportedly asked the government to raise an additional Rs500 billion through new taxes measures. Read More: Pakistan budget 2026–27 eyes heavy taxes According to reports citing official sources, the demand comes as Islamabad finalises revenue targets and […]
Government unveils new civil service conduct code after 62 years
The federal government has introduced a new code of conduct for civil servants, replacing a decades-old framework with stricter rules focused on transparency, financial accountability and digital governance. The newly introduced Civil Servants (Conduct) Rules 2026 replace the 1964 regulations that had governed public officials for more than six decades. While the updated framework retains […]
FBR chief assures LCCI of maximum facilitation to business community
Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial and Lahore Chamber of Commerce and Industry (LCCI) President Faheem-ur-Rehman Saigol discussed key taxation, industrial and business-related issues along with the upcoming federal budget proposals submitted by the Lahore chamber. The LCCI spokesman told the media here on Sunday that during the meeting, the FBR chairman […]
FCC bins FBR appeals, declares income tax ordinance clause unconstitutional
The Federal Constitutional Court has declared the controversial Section 7E of the Income Tax Ordinance, 2001, unconstitutional and void in its entirety, while also declaring all actions, notices and proceedings initiated by the Federal Board of Revenue (FBR) and the Revenue Division under the provision as ineffective and unlawful. A two-member bench comprising Chief Justice […]
PM reviews FBR reforms, approves action plan to streamline tax litigation
Prime Minister Muhammad Shehbaz Sharif, Tuesday, while emphasizing the need for expeditious resolution of tax disputes, called for further strengthening of the Alternate Dispute Resolution (ADR) mechanism, saying it would help reduce the burden on courts and ensure timely settlement of cases. The prime minister chaired a high-level meeting to review ongoing reforms in the […]
Pakistan opens new transit routes for Iran trade
Pakistan has introduced a new framework allowing the transit of third-country goods to Iran through its territory, marking a significant step toward enhancing regional trade connectivity. Read More: Iranian envoy calls Pakistan trusted mediator The initiative, titled the “Transit of Goods through Territory of Pakistan Order 2026,” was notified by the Ministry of Commerce and has come into […]
IMF sets new reform targets for Pakistan
The International Monetary Fund has set new structural targets for Pakistan for the next year, focusing on improving the country’s economy and governance. The targets were agreed upon between Pakistani authorities and the IMF as part of ongoing efforts to strengthen financial discipline and institutional transparency. Read More: Pakistan, IMF begin crucial economic review talks in Islamabad […]
FBR conducts tax awareness outreach session at RCCI
On the directions of Chairman FBR, Mr. Rashid Mahmood Langrial and under the supervision of Member (TPS), Ms. Tehmina Aamer, Taxpayers’ Services Wing, as part of its ongoing Tax Awareness and Outreach Campaign, conducted a Tax Awareness Session at the Rawalpindi Chamber of Commerce & Industry (RCCI) to promote awareness regarding tax obligations, legal compliance, […]