Petrol prices in Pakistan have risen sharply as the tax component climbs to Rs. 117.41 per liter, with authorities increasing petroleum levies amid fiscal pressures. Despite stable global oil prices, most of the hike is driven by higher domestic taxes, intensifying inflation concerns for consumers.
Tax experts and business leaders have urged the government to expand the Third Schedule of the Sales Tax Act in Budget 2026-27 to remove distortions in Pakistan’s GST regime, improve documentation of retailers, and create a level playing field for the formal sector.
FBR has issued draft income tax return forms for Tax Year 2026 and invited taxpayers and stakeholders to submit feedback within seven days ahead of the upcoming filing season.
FCC has struck down Section 7E of the ITO, declaring the controversial deemed income tax on immovable properties unconstitutional. The landmark ruling provides major relief to property owners, salaried individuals and businesses facing tax demands under the provision since 2022.
The FBR has revised customs values for imported smart watches, smart bands and smart rings to curb under-invoicing and protect revenue. New valuation rates have been introduced for wearable devices under Valuation Ruling No. 2076/2026, while premium brands such as Apple and Samsung will continue to be assessed separately at higher values.
FBR will now collect Climate Support Levy and Petroleum Development Levy for the Petroleum Ministry after issuing S.R.O. 800(I)/2026, amending sales tax return procedures.
Govt rolls out ADR expansion and digital litigation system to fast-track thousands of pending tax disputes and improve FBR efficiency.
ISLAMABAD: The federal government is considering major tax relief measures for Pakistan’s auto sector in the upcoming budget 2026-27, a move that could significantly reduce car prices and boost demand […]
FTO closes Rs70 million tax evasion complaint, citing parallel court proceedings and reaffirming zero tolerance for frivolous cases and suspected tax fraud.
ISLAMABAD: The Federal Board of Revenue (FBR) is set to introduce strict enforcement measures to boost tax collection and contain the growing revenue shortfall during the ongoing fiscal year 2025-26. […]