The FBR has clarified that cash deposits into a seller’s bank account are valid payments, preventing disallowance of expenses. This move aims to bridge the formal-informal economy gap and boost tax compliance, easing rules on large transactions.
The FBR has temporarily closed its call center for routine maintenance, with services set to resume on Monday, August 4, 2025. Taxpayers are advised to use the FBR website and email for inquiries until the call center reopens to ensure improved service quality.
FBR gains new powers via Finance Act 2025 to control retail prices, capping deductions & setting minimum prices for imports. This aims to curb tax evasion but may spark legal challenges for importers.
The FBR has abruptly revoked Engro Fertilizer’s tax exemption for July–Dec 2025, citing unpaid advance taxes. The move has sparked industry outrage, with experts warning it undermines investor confidence and unfairly targets documented sectors over the informal economy.
NCCPL announces July 31, 2025, as the collection date for June 2025 Capital Gain Tax (CGT) on PSX, PMEX, and mutual fund transactions. Clearing Members must ensure funds and verify reports to avoid penalties.
Rawalpindi sees massive property registry fee hikes (up to 20%), new map fees, and digital system failures. Costs for a 5-marla house hit Rs350k, stalling all transactions. Experts warn of revenue loss and evasion due to high taxes and non-functional online systems.
FBR clarifies sales tax basics while new Finance Act 2025 mandates NTN/STRN for ALL online sellers, including non-residents. A 2% sales tax is now auto-collected by intermediaries on digital transactions (even CoD). Unregistered sellers are out of the online game.
FBR notifies concessional customs duty rates for EVs & HEVs in FY26. This move boosts clean energy transport & local manufacturing in Pakistan with low duties for electric rickshaws, buses, trucks, and 1% for HEV CBUs for local assemblers.
FBR clarifies no direct 20.5% tax on cash transactions over Rs. 200,000. Section 21(s) only disallows 50% of expenses for single cash invoices above this limit, increasing taxable income during audit. Proper invoicing is key to compliance.
FBR to Automate Input Tax Adjustments from July 1, 2025; Taxpayers Get 30 Days to Contest