MTO Karachi Exceeds May Tax Collection Target by Rs2 Billion
MTO Karachi exceeded its May 2026 tax collection target by Rs2 billion, collecting Rs27 billion.
LTO Karachi Achieves Record Rs3 Trillion Tax Collection
LTO Karachi collected a record nearly Rs3 trillion in 10MFY26, posting 10% growth in net revenue driven by higher direct taxes and increased federal excise duty collections.
Jewelers Propose Simplified Income Tax Regime for Jewelry Sector
The All Pakistan Sarafa Gems and Jewelers Association has proposed a simplified turnover-based income tax regime for jewelry sector to ease compliance, improve documentation.
PM Committee Recommends Growth-Oriented Tax Measures in Budget 2026-27
The government’s budget committee has recommended growth-oriented tax measures for Budget 2026-27 aimed at increasing revenue, expanding the tax base, and supporting investment.
FBR Clarifies Lengthy Tax Return Form for Tax Year 2026
FBR has clarified that the 147-page tax return form for tax year 2026 is not meant to complicate filing, saying most salaried individuals and businesses will only need to fill 8 to 15 rows as the authority moves toward AI-based pre-filled tax returns.
Experts Urge Expansion of Third Schedule in Sales Tax Regime
Tax experts and business leaders have urged the government to expand the Third Schedule of the Sales Tax Act in Budget 2026-27 to remove distortions in Pakistan’s GST regime, improve documentation of retailers, and create a level playing field for the formal sector.
FBR Issues Draft Income Tax Return Forms for Tax Year 2026
FBR has issued draft income tax return forms for Tax Year 2026 and invited taxpayers and stakeholders to submit feedback within seven days ahead of the upcoming filing season.
FBR Revises Customs Values for Smart Watches, Bands and Rings Imports
The FBR has revised customs values for imported smart watches, smart bands and smart rings to curb under-invoicing and protect revenue. New valuation rates have been introduced for wearable devices under Valuation Ruling No. 2076/2026, while premium brands such as Apple and Samsung will continue to be assessed separately at higher values.
FBR Clears Long-Pending Tax Refund Within Three Weeks on FTO Orders
FBR has processed a long-pending tax refund within three weeks after intervention by the FTO, highlighting improved compliance and reaffirming the role of oversight in ensuring timely resolution of taxpayer grievances.
SNGPL Clarifies Disputed Tax Demand, Says No Financial Impact
SNGPL says disputed tax demand linked to CEA is historical, already accounted for, and has no impact on profitability or future financial position.