Tag Archives: FBR

Aftab Maken ISLAMABAD: Islamabad High Court (IHC) has ruled that a prominent telecom operator—Jazz Pakistan–is liable to pay approximately Rs 22 billion ($78 million) in taxes on the transfer of its tower infrastructure. The decision, handed down by a Division Bench led by Justice Babar Sattar, settles a long-standing dispute …

Aftab Maken ISLAMABAD: The federal government has proposed significant fiscal measures in the Budget 2025–26, including a reduction in withholding tax on property purchases, meaningful relief for the salaried class, the introduction of a carbon levy on petroleum products, and the imposition of General Sales Tax (GST) on solar panels …

Aftab Maken ISLAMABAD: The federal government on Tuesday unveiled a Rs17.6 trillion balanced budget for the fiscal year 2025-26, with total projected revenues and expenditures both standing at Rs17,573 billion. According to official budget figures, the Federal Board of Revenue (FBR) is tasked with collecting Rs14,131 billion in tax revenue, …

Aftab Maken Islamabad: The Federal Board of Revenue (FBR) is facing an escalating crisis, reporting a massive revenue shortfall of Rs 1,027 billion during the first eleven months (July 2024 to May 2025) of the current fiscal year. This alarming gap, which includes a Rs 206 billion deficit in May …

Aftab Maken Islamabad A recently formed Senate sub-committee, tasked with investigating alleged tax evasion worth billions of rupees within Pakistan’s cigarette industry, is now at the center of a significant controversy. Serious objections have been raised regarding the inclusion of senators with direct and past ties to the tobacco sector, …

Pakistan and the International Monetary Fund (IMF) have not yet reached a complete consensus on the budget targets for the upcoming fiscal year. However, the IMF has announced that negotiations on the new fiscal year’s budget will continue. An IMF mission, led by Mr. Nathan Porter, concluded its staff visit …

Due to high tax rates, many businesses are reportedly shifting from Pakistan to Dubai — a concern that the Federal Board of Revenue (FBR) has confirmed. This was revealed during a meeting of the Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla. Members of the committee pointed out …

Pakistan’s real estate sector is bracing for a major shift as the federal government considers a sharp increase in the Capital Gains Tax (CGT) on property sales. Sources say the government is weighing a proposal to raise the current 15% CGT rate to as high as 40% in the upcoming …

Aftab Maken ISLAMABAD: There is a strong possibility that the federal government will maintain the current slabs of tax and duty on vehicles in the upcoming Budget 2025-26. Despite several proposals under consideration, the current import duties on automobiles are likely to stay unchanged, sources familiar with the development told …

In a meeting of the Senate Standing Committee on Finance, held under the chairmanship of Senator Saleem Mandviwalla of the Pakistan Peoples Party, a significant development unfolded regarding the ongoing investigation into money laundering through the import of solar panels. The sub-committee, established to probe the matter, requested additional time …