Pakistan Customs committee declares FBR’s “Faceless Customs Assessment” (FCA) system a “flawed and failed” initiative! 🚨 They demand immediate suspension & a radical overhaul, citing negligible impact on revenue & operational disruptions.
Customs crackdowns intensify! 🚨 A major import fraud case in Karachi uncovered Rs700 million in tax evasion, with goods worth Rs1.2 billion seized. Three arrested for misdeclaring tin plate as cheaper sheets.
FBR launches Google Career Certificate training for its officers! 🚀 Partnering with MoITT & Google, this program offers flexible online courses (AI, Cybersecurity, Data Analytics & more) to build a digitally proficient & future-ready public sector workforce.
FBR makes an 11th-hour push to meet its revised Rs. 12.33 trillion tax target! 🚨 Offices open late, and notices are flying as they intensify enforcement & collection efforts before the June 30 deadline. Will they close the Rs. 833 billion gap?
FBR now requires mandatory device registration for Sales Tax System access via the Tax Asaan App. Effective today, May 26, 2025, this enhances security with MFA & location tracking to protect taxpayer data and streamline access.
FBR saw income tax from bank deposits plunge 37% in April 2025 (Rs4bn vs Rs6.5bn), despite record Rs32tn deposits! Sharp interest rate cuts (22% to 11%) are blamed. This paradox highlights a growing gap between economic momentum and tax revenue.
Pakistan’s fiscal revenue nearly doubled in 2 years, but critics warn it’s “cosmetic” growth. The IMF acknowledged it, yet experts question why real reforms aren’t pushed. Upcoming FY26 budget eyes more taxes on existing sectors (pensions, social media, snacks) without true tax base expansion, hinting at a tough year for the salaried class.
A World Bank study reveals Pakistan’s GST has the largest impact on increasing poverty, with GST payments consuming over 7% of household expenditure. It calls for fiscal reforms, urging targeted cash transfers for the poor and a shift from regressive indirect taxes to ensure fiscal equity and sustainability.
Pakistan Tax Bar Association (PTBA) urges FBR to extend sales tax return deadline for March & April 2025 until June 30. Citing “widespread technical difficulties” and “discrepancies in newly inserted annexures,” the PTBA warns of low filing rates and asks for automatic revision permission for inadvertent errors.
Final call for April 2025 PSX Capital Gains Tax! NCCPL sets June 2nd as the deadline for CGT on share disposals & mutual fund redemptions. Clearing Members must ensure funds are ready & verify calculations in the CGT System. Defaulting clients will be reported.