FBR miss Revenue Target by Rs. 190 Billion as Tax Collection Falls Short
The FBR has collected Rs. 960 billion against a target of Rs. 1.15 trillion in May 2026, leaving a revenue gap of around Rs. 190 billion.
Latest Tax News
P@SHA Seeks Continuation of 0.25% Tax Regime for IT Exporters
P@SHA has proposed a 10-year extension of the 0.25% Final Tax Regime for IT exporters and genuine freelancers.
Rs. 17.1 Trillion Federal Budget 2026-27 to be Presented on June 5
The federal government will unveil the Rs. 17.1 trillion Budget 2026-27 on June 5, with major allocations for debt servicing, defense, development spending, and ambitious revenue targets.
Government May Remove FBR Scrutiny Limit on Remittances
Government may remove the Rs. 5 million limit under Section 111(4), allowing unlimited foreign remittances through banks.
MTO Karachi Exceeds May Tax Collection Target by Rs2 Billion
MTO Karachi exceeded its May 2026 tax collection target by Rs2 billion, collecting Rs27 billion.
ICAP Seeks Major Tax Relief for Salaried Class, Businesses and Builders
ICAP has proposed inflation-linked salary tax relief, higher cash withdrawal tax thresholds, taxpayer protections, and clearer taxation rules for builders.
PSX Seeks Corporate Tax Cuts and Investor Incentives in Budget 2026-27
PSX has proposed corporate tax cuts, restoration of investor tax credits, and removal of withholding taxes.
Tax Relief or Higher Taxes Both Under Consideration
Government considers tax changes for freelancers and IT employees in Budget 2026-27, while mobile phone tax relief remain unlikely.
Proposed Budget 2026-27 may Increase Solar Panel GST to 18%
Budget 2026-27 may raise GST on solar panels from 10% to 18%.
Govt Considers Ending Import Tax on Life-Saving Medicines
Government considers abolishing import tax on life-saving medicines to reduce healthcare costs.