Aftab Maken ISLAMABAD: Lack of clarity on the Governance and Corruption Diagnostic (GCD) report and pending confirmation of external financing have delayed Pakistan’s staff-level agreement (SLA) with the International Monetary Fund (IMF), though officials remain hopeful the deal will be concluded during Finance Minister Muhammad Aurangzeb’s upcoming visit to Washington. …
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IMF concludes $8.4bn review discussions with Pakistan without a staff-level agreement; further talks expected in Washington as Islamabad faces fiscal and governance reform demands. Aftab Maken ISLAMABAD: The International Monetary Fund (IMF) has concluded its review mission with Pakistan without announcing a staff-level agreement (SLA) under the $8.4 billion combined …
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Massive customs fraud exposed at Jinnah International as FBR seizes Rs103 million consignment and initiates arrests over fake clearances. The Federal Board of Revenue (FBR) has unearthed a major customs duty and tax evasion scam at Karachi’s Jinnah International Airport, involving the illegal clearance of high-value electronics worth hundreds of …
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FBR grants extension for Tax Year 2025 after appeals from traders, tax bars BeNewz Report The Federal Board of Revenue (FBR) has officially extended the deadline for filing income tax returns for the Tax Year 2025 to October 15, 2025. The decision was made under Section 214A of the Income …
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Talks focus on tax shortfalls, energy sector reforms, and flood impacts as Pakistan seeks $1bn loan tranche. Aftab Maken ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have commenced policy-level talks in Islamabad as part of the second review under the $7 billion Stand-By Arrangement (SBA), aiming to unlock the …
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Aftab Maken FIA arrests FBR officials after probe finds fraudulent regularization of smuggled vehicles through Customs’ digital system, said an official announcement of the FBR on Wednesday. The Federal Board of Revenue (FBR) has moved against its own officers after an investigation revealed their involvement in a racket that fraudulently …
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Aftab Maken ISLAMABAD: To promote the digital economy and broaden the tax base, the federal government has imposed a cash transaction limit of Rs 200,000 for retail outlets and e-commerce Cash on Delivery (COD) payments. According to a circular issued by the Federal Board of Revenue (FBR) on August 12, …
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Aftab Maken ISLAMABAD: The Federal Board of Revenue (FBR) is proposing stringent measures, including requiring FBR approval for future stock market investments by all, and outright barring non-filers from stock market participation. These proposals, discussed during a recent meeting of the Senate Standing Committee on Finance chaired by Senator Saleem …
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Aftab Maken ISLAMABAD: The Senate Standing Committee on Finance on Sunday rejected the Federal Board of Revenue’s (FBR) proposal to impose a 10-year jail term for individuals involved in tax fraud. Members of the committee expressed serious reservations over the severity of the suggested punishment. The meeting, chaired by Senator …
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Aftab Maken ISLAMABAD: The FBR’s Anti-Benami Initiative has confiscated two valuable properties in the capital, marking the first time immovable assets have been seized under the Benami Transactions (Prohibition) Act of 2017. The plots, located in the desirable Block H of the Pakistan Employees Cooperative Housing Society (PECHS), are now …
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