ISLAMABAD — Heavy taxation on mobile phones brought from abroad became a major topic of discussion at a National Assembly Standing Committee on Finance meeting on Tuesday. Lawmakers expressed concerns over the financial burden on both overseas Pakistanis and citizens at home. Read More: New fiscal year brings heavy taxes, online business rules, and fuel levy […]
FBR
PM orders tax relief plan for salaried class
Prime Minister Shehbaz Sharif has directed authorities to begin work on providing tax relief to the salaried class, Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial said on Friday. Speaking at a Pakistan Business Council seminar, the FBR chairman said the prime minister has also instructed a reduction in the super tax imposed on […]
High corporate taxes seen as hurdle to FDI, SIFC says
ISLAMABAD: Pakistan’s high corporate taxes are discouraging foreign direct investment (FDI), the Special Investment Facilitation Council (SIFC) said on Thursday, while the Federal Board of Revenue (FBR) stressed that any adjustments must be linked to improved compliance to prevent potential revenue losses of Rs1.6 trillion. Read More: Tax revenue from electricity bills drops by Rs110 […]
FBR widens asset disclosure rules to boost transparency
ISLAMABAD: The Federal Board of Revenue (FBR) has expanded the category of officials required to publicly declare their assets, marking a major regulatory shift aimed at enhancing transparency and aligning with reported conditions set by the International Monetary Fund (IMF). The revised framework broadens the scope of public servants whose financial disclosures will now be […]
FBR launches audits of doctors, beauty parlors, and paint sector
ISLAMABAD – The Federal Board of Revenue (FBR) has intensified audits targeting high-earning doctors, beauty parlors, and private companies in the paint sector in major Pakistani cities, including Karachi, Lahore, and Islamabad. The move comes as part of Pakistan’s commitment to strict conditions set by the International Monetary Fund (IMF). Read More: FBR faces Rs270 billion […]
Customs seize NCP vehicles worth Rs81m in Quetta raid
QUETTA: The Collectorate of Customs (Enforcement) Quetta on Tuesday seized non-custom paid (NCP) vehicles worth approximately Rs81 million, foiling a major smuggling attempt in the region. The operation highlights the department’s ongoing efforts to curb illicit vehicle movement. Read More: Balochistan vows to intensifying crackdown against NCP vehicles According to a news release, the raid was […]
FBR to collaborate with KATIon non-filers
KARACHI: The Federal Board of Revenue (FBR) will coordinate with the Korangi Association of Trade and Industry (KATI) and other trade bodies to identify and register non-filers, officials said on Friday. The announcement was made by Ahmed Kamal, Chief Commissioner of the Inland Revenue Service, during his visit to KATI. Read More: KATI urges federal, […]
Senate panel urges SBP to stop banks from forcing female staff to wear abayas
ISLAMABAD: A parliamentary committee on Wednesday asked the State Bank of Pakistan (SBP) to intervene after lawmakers raised concerns that some Islamic banks were compelling female employees to wear abayas. Members of the Senate Standing Committee on Finance said women should not be forced into adopting a specific religious appearance, arguing that professional dress codes […]
FBR to monitor cigarette production digitally to curb tax evasion
ISLAMABAD: The Federal Board of Revenue (FBR) has introduced a new initiative to digitally monitor the entire tobacco-to-cigarette value chain in an effort to curb widespread tax evasion in the sector. The tax authority has directed all cigarette factories and green leaf threshing stations to install IP-based CCTV cameras at designated points to track production […]
Customs seize Rs910m crystal meth haul in Dera Ismail Khan
ISLAMABAD: Pakistan Customs on Wednesday foiled a major smuggling attempt, recovering 15.2 kilograms of crystal methamphetamine worth Rs910 million from a passenger bus in Dera Ismail Khan. According to a statement issued by the Federal Board of Revenue (FBR), the Customs Enforcement team intercepted the narcotics during a routine inspection at IP-JCP Aman Mela. The […]