Islamabad: The Federal Board of Revenue (FBR) has issued a tax demand of Rs188.9 million against Sazgar Engineering Works Limited for Tax Year 2023, according to the company’s quarterly and half-yearly financial disclosures submitted to the Pakistan Stock Exchange (PSX) on February 4.
The demand was raised by the Additional Commissioner Inland Revenue (ACIR) through an order dated September 30, 2025, issued under Section 122(5A) of the Income Tax Ordinance, 2001.
In response, Sazgar has formally contested the assessment. The company has filed a rectification application under Section 221 with the ACIR and has also lodged an appeal before the Commissioner Inland Revenue (Appeals).
Management stated that it expects a positive outcome from both proceedings. Consequently, no financial provision has been recorded against the disputed amount in the company’s accounts.
Sazgar emphasized that the matter remains under review by tax authorities and appellate forums, and the company will update investors in line with regulatory disclosure requirements.
