FBR Bans PDF Financial Statements for Companies
Companies to submit financial statements in machine-readable formats such as Excel, XML, XBRL and JSON from Tax Year 2026.
Latest Tax News
Finance Bill 2026 Proposes Massive Increase in Penalties for Late Tax Return Filings
ATL restoration penalties rise up to Rs. 100,000 while sales tax default penalties are significantly enhanced.
Finance Bill 2026: FBR Proposes 100% Increase in Minimum Tax
Finance Bill proposes doubling the minimum turnover tax from 0.25% to 0.5% for distributors of mobile phones, food products, fertilizers, sugar and electronics.
Finance Bill 2026: Fixed Tax Scheme Introduced for Traders
Finance Bill 2026 introduces a Fixed Tax Scheme with mandatory POS integration and QR code system.
Finance Bill 2026: Major Revision in Token Tax Rates for Vehicles
Finance Bill 2026 introduces revised token tax rates in ICT for cars, cabs, public service vehicles, and commercial transport.
Budget 2026-27 Brings Major Income Tax Relief, Property Tax Cuts and Export Incentives
Budget 2026-27 introduces major tax reforms including relief for salaried individuals, abolition of Section 7E, lower property taxes, Super Tax cuts, export incentives, and tax exemptions for charities.
Finance Minister Aurangzeb Presents Rs18.77 Trillion Federal Budget
Muhammad Aurangzeb has presented Rs18.77 trillion Federal Budget 2026-27 in the National Assembly, setting an FBR tax collection target of Rs15.264 trillion.
Federal Cabinet Approves 7% Salary Increase for Government Employees
The federal cabinet has approved a 7% salary increase for government employees in the Budget 2026-27.
IT Companies could Pay 300% More Tax under Budget 2027
Pakistan may increase the tax rate on IT companies from 0.25% to 1% in Budget 2026-27.
PTBA Raises Legal Concerns Over Fixed Tax Scheme for Small Shopkeepers
PTBA has raised legal and procedural concerns over the Fixed Tax Scheme for small shopkeepers, seeking clarity.