Quratul Ain

A workspace with tax documents and a smartphone.

KTBA Urges FBR to Address Functional and Procedural Anomalies in IRIS System

Karachi Tax Bar highlights critical functional and procedural issues in FBR’s IRIS portal, urging immediate fixes for improved taxpayer compliance.

FBR Introduces New Cement Sales Tax Valuation Based on Retail Prices

FBR links cement sales tax to PBS national retail prices from May 1. New valuation mechanism aims to combat under-invoicing in the cement sector.

Salaried Class Bears Record Tax Burden, Contributing 10% of National Collection

Salaried class paid a record Rs 391bn in income tax, contributing 10% of national collection – disproportionately high compared to traders.

Key taxation terms in Pakistan with financial elements including tax forms, calculator, Pakistani currency, and a digital display of tax categories.

Non-Filers to Face Strict Measures in Upcoming Budget

Pakistan plans strict measures for non-filers in Budget 2025-26, restricting transactions via new laws (Section 114C). FBR upgrading systems for enforcement.

FBR Reports 55% Surge in Tax Collection from Electricity Bills in March

FBR reports a substantial 55% jump in tax collected from electricity bills in March 2025 compared to last year.

Pakistan Updates Customs Valuation for Apple iPhones

Pakistan updates customs values for Apple iPhones. New FBR ruling sets import duties for iPhone 16 series and older models based on market trends for fair taxation.

Decline in Tax Collection on Bank Deposit Profits as Interest Rates Fall

FBR tax on bank deposit profits plunged 54% in March 2025 due to lower interest rates, impacting revenue despite record deposit volumes.

A person reading a business newspaper with financial charts visible.

FBR Set Deadline for Electronic Invoicing Integration of Registered Taxpayers

Pakistan FBR mandates electronic invoicing integration for registered taxpayers by May 1/June 1, 2025, boosting digitization and compliance.

IMF Engages with Pakistan on Tax Reforms and Judicial Efficiency

IMF reviews Pakistan’s tax reforms with FBR and discusses judicial efficiency, contract enforcement, and property rights with the SCBA in governance assessment.