Adviser to the Finance Minister Khurram Schehzad rejected local media reports of the Federal Bureau of Revenue (FBR) missing its annual tax target by a massive margin of Rs864 billion [$3.08 billion], clarifying that the bureau had achieved over 99 percent of its tax collection target over a period spanning 11 months. Local media organizations […]
Tax
Govt considers substantial tax hike on solar panels in budget
Setting up solar power systems is about to become considerably more expensive for consumers in Pakistan, as the government considers a substantial tax hike on solar panels in the upcoming federal budget for the fiscal year 2026-27. According to sources close to the development, the International Monetary Fund (IMF) has strongly opposed tax exemptions historically […]
CJP leads banking dispute reforms push, cites ADR success in tax cases
The Chief Justice of Pakistan, as Chairman of the Law and Justice Commission of Pakistan, chaired a high-level consultation at the Supreme Court on Thursday to address legislative and procedural gaps causing delays in banking dispute resolution. The meeting drew on the Federal Board of Revenue’s experience with Alternative Dispute Resolution Committees in tax litigation, […]
Govt, WB discuss strategy to digitise property tax system
Sindh Minister for Local Government Syed Nasir Hussain Shah held an important meeting with a high-level delegation of the World Bank regarding the Sindh Property Tax Modernization and Enhancement initiative, in which a comprehensive strategy was discussed to modernize the property tax system in the province, expand its scope and significantly increase revenue. The meeting […]
PA speaker declares agri tax notification null and void
Punjab Assembly (PA) Speaker Malik Muhammad Ahmed Khan on Monday declared agricultural tax notification null and void, under executive order. Malik Muhammad Ahmed Khan read out the rolling in the Punjab Assembly, following the members of the Punjab Assembly thumped their desks to pay tribute to the Speaker. On this occasion, Malik Muhammad Ahmed Khan […]
State minister engages with Karachi traders to streamline tax reforms
Minister of State for Finance, Bilal Azhar Kayani, held a productive consultative session with members of the business community at the Federal Board of Revenue (FBR), Tax office in Karachi. The meeting aimed to foster collaboration, address concerns, and incorporate feedback from stakeholders into the upcoming federal budget. During the dialogue, Minister Kayani underscored the […]
PM rules out mini budget, rejects tax proposals
Prime Minister Shehbaz Sharif has rejected a set of tax proposals put forward by the country’s economic team, making it clear that no mini budget will be introduced. According to sources in the Finance Ministry, the economic team had proposed new taxation measures to address a revenue shortfall. However, the prime minister turned down these […]
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, […]
FBR proposes tax on social media earnings
The Federal Board of Revenue (FBR) has proposed a special taxation procedure to bring social media content creators earning income from remunerative content into the tax net. In two separate notifications, the tax collection body sought objections and suggestions within seven days before finalising certain further amendments in the Income Tax Rules, 2002. “Every non-resident […]
PM signals direct tax relief in upcoming budget
Prime Minister Shehbaz Sharif on Wednesday stressed the need for reducing direct taxes “across the board” in the upcoming budget to facilitate the business community. The premier made the remarks while addressing the inaugural session of the two-day Pakistan Governance Forum 2026, which was attended by businesspersons as well. PM Shehbaz stressed the need for […]