News
MTO Karachi beats tax target for May 2026
1+ hour, 24+ min ago (422+ words) Medium Taxpayers" Office Karachi surpasses revenue goal with strong income tax and sales tax growth, boosting FBR"s fiscal outlook. The Medium Taxpayers" Office (MTO) Karachi has exceeded its tax collection target for May 2026, achieving the milestone two days before…...
FBR chairman to review Karachi revenue drive
10+ hour, 40+ min ago (314+ words) FBR chairman Rashid Mahmood Langrial to assess tax collection performance and enforcement measures during key June visit. Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), is scheduled to visit Karachi on June 1, 2026, to review tax collection performance…...
FBR announces weekend tax collection working days
1+ day, 18+ min ago (297+ words) Tax offices to remain open on Saturday and Sunday as authorities move to boost revenue collection ahead of fiscal close. The Federal Board of Revenue (FBR) has declared Saturday and Sunday, May 30 and 31, 2026, as normal working days for major tax…...
ICAP seeks prior notice before FBR enters business premises
1+ day, 15+ hour ago (405+ words) Chartered accountants" body seeks mandatory 48-hour notice and transparent audit selection to protect taxpayer rights. The Institute of Chartered Accountants of Pakistan (ICAP) has proposed that tax authorities should be required to issue prior notice before entering taxpayers" business premises…...
ICAP seeks clarity on builders, developers taxation Section 7 F
1+ day, 15+ hour ago (392+ words) Chartered accountants" body calls for clearer rules and alignment of advance tax mechanism for builders and developers. The Institute of Chartered Accountants of Pakistan (ICAP) has proposed amendments relating to taxation of builders and developers under Section 7 F of the…...
FBR sees 30% drop in Karachi electricity tax
1+ week, 2+ day ago (229+ words) Shift toward solar energy cited among major reasons behind lower tax collection The Federal Board of Revenue (FBR) recorded a nearly 30% decline in withholding income tax collection through electricity bills from Karachi during the first 10 months of fiscal year 202526, according…...
FBR Warns Over Non-Declaration of Property
2+ week, 6+ day ago (324+ words) Federal Board of Revenue has warned taxpayers of strict legal action for failing to declare property details in income tax returns for tax year 2026. The tax authority said it already possesses withholding tax data related to property transactions and will…...
FBR Waives Rs8. 77bn PIA Tax Penalties
3+ week, 4+ day ago (241+ words) ISLAMABAD, May 4, 2026 " The Federal Board of Revenue (FBR) has announced a waiver of penalties and default surcharge on tax liabilities amounting to Rs8. 77 billion payable by Pakistan International Airlines (PIA). According to a notification issued on Monday, the FBR stated that…...
KTBA Backs High Earners in FBR Super Tax Surcharge Dispute
1+ mon, 6+ day ago (463+ words) Karachi, April 24, 2026 " The Karachi Tax Bar Association (KTBA) has strongly defended high-income taxpayers against default surcharge proceedings initiated by the Federal Board of Revenue (FBR), raising concerns over legality, fairness, and economic impact. In a formal letter addressed to FBR…...
ICMAP proposes consumer lottery to expand tax net
2+ mon, 18+ hour ago (159+ words) " Why This Matters A significant portion of Pakistan's retail economy remains undocumented, leading to major losses in sales tax revenue. By encouraging receipt-based transactions, the scheme could help formalize retail activity and improve transparency. " Global Success Stories " Encourages consumers to…...