FTO orders probe into FBR’s forced online business integration (SRO 428)! 🚨 Taxpayers burdened, data privacy violated. FBR failed to defend. This investigation could bring crucial relief and impact future tax policies.
FBR reveals tax-free income cost Pakistan Rs443 billion in FY25, a 53% jump! đź’° Exemptions for foreign investors, pensioners, non-profits, and energy sector are eroding the revenue base, sparking concerns about fiscal sustainability.
Overseas Pakistanis can now enjoy a 120-day tax-free mobile registration facility on each visit! 🎉 PTA’s automated DIRBS system allows hassle-free device registration, ensuring seamless connectivity & facilitating visitors.
Pakistan slashes regulatory duties on over 1,000 imported items from July 1! 🎉 Enjoy cheaper imported food, vehicles (SUVs 44% off, cars 1/3rd), & personal care goods like cheese (10% off). Part of a wider tariff rationalization move.
KPRA smashes its revenue target, collecting Rs51.56 billion in FY2024-25, surpassing its goal by Rs4.56bn! The authority reported 37% growth, attributing success to a broadened tax net of over 25,100 registered taxpayers. A major win for Khyber Pakhtunkhwa’s financial stability!
Pakistan enacts Rs339.5bn new taxes from July 1 via Finance Act 2025. Key changes: hiked profit on debt, new e-commerce taxes, bar on “ineligible persons'” transactions, reduced customs duties (excl. auto), and FBR-bank data exchange for high-risk individuals. Tax relief for salaried class, but general public faces indirect taxes.
FBR reports a stunning 490% surge in tax collection from foreign card payments, hitting Rs17.43 billion in TY2024! This near 5-fold jump highlights the effectiveness of Section 236Y (5% for ATL) and digital enforcement in expanding the tax base from online shopping, subscriptions, and travel.
Punjab Assembly approved a Rs5.33 trillion tax-free budget for FY2025-26, maintaining existing taxes. Major allocations include Rs910bn for development, Rs462bn for pensions, and significant funds for police, health, & education, approved despite opposition.
Pakistan’s Federal Cabinet, chaired by PM Shehbaz Sharif, approved the Finance Bill (budget) for FY 2025-26 with amendments. Legislative changes sent to a committee. A new committee formed to present gas-related proposals to the Supreme Court.
Balochistan Assembly greenlights Rs896B budget for FY25-26, prioritizing development and operations. Despite opposition’s rejected cut motions, the budget emphasizes federal transfers and existing provincial taxes, with no new major levies.