The FBR has broadened Pakistan’s asset disclosure regime by requiring BPS-17 and above officials across federal, provincial and state-owned bodies to publicly declare their assets. The move, notified through SRO 2263, aims to create a uniform and transparent accountability framework.
The IMF’s insistence on applying full GST on petroleum products has blocked Pakistan’s refinery upgrade plans, with refineries unable to claim input tax adjustments. The deadlock risks the Brownfield Refinery Policy 2023, aiming to modernize local refineries and boost fuel production.
The Senate Standing Committee on Interior criticized FBR Chairman Rashid Mahmood Langrial for skipping key meetings and demanded his presence. The committee also reviewed the Rs250 million cigarette theft case, rising cybercrime complaints, and slow progress in high-profile murder investigations.
The Punjab Revenue Authority has launched a stricter enforcement drive targeting beauty clinics earning crores annually but avoiding taxes, directing full registration by December and expanding digital monitoring to improve compliance.
The FBR has directed textile spinners to install video analytics systems for real-time monitoring of cotton bale processing amid a crackdown on undocumented ‘Gol Mall’ cotton. All units must deploy the approved surveillance and analytics setup by December 31, 2025, with field formations prioritizing high-risk spinners.
Honda Atlas Cars reported a sharp rise in profits and taxes during the first half of FY2025, paying over Rs1 billion in income tax as after-tax profit jumped 241% to Rs1.57 billion, while earnings per share increased to Rs11.
LAHORE:
British High Commission delegation held talks with Punjab Revenue Authority Chairman Moazzam Iqbal Supra on improving tax collection and strengthening enforcement of sales tax laws. Discussions included collaborative initiatives in banking, telecom, IT, and insurance sectors, and the formation of a joint technical platform to boost provincial revenue.
The Federal Board of Revenue has detected nearly Rs30 billion in annual Sales Tax evasion in Pakistan’s tile industry and will now install a four-camera monitoring system to track production in real time. FBR Chairman Rashid Langrial warned that manufacturers refusing installation may face shutdowns, as the authority no longer trusts self-reported data. The move follows successful monitoring in the sugar and cement sectors and comes amid a 32% rise in national Sales Tax collection for FY 2024–25.
The Federal Board of Revenue recorded Rs7 billion in tax from service exports in FY25, marking a 30% year-on-year increase. The surge was fueled by the booming IT and IT-enabled services sector. Taxes are levied under Section 154A, with 0.25% applied to PSEB-registered IT exports and 1% on other services. This collection highlights the sector’s growing contribution to Pakistan’s revenue base.
The Federal Board of Revenue has granted additional time to manual taxpayers to shift to digital filing, extending the return submission deadline to November 30. Special support cells have also been established across the country to offer free guidance and assistance during the transition to Pakistan’s fully online tax system.