The Federal Board of Revenue (FBR) faces a major revenue shortfall in February 2026 as IMF review discussions begin in Islamabad. Authorities are taking urgent measures to boost tax collections and meet fiscal targets.
The Federal Board of Revenue (FBR) has announced that all LTOs, MTOs, CTOs, and RTOs will remain open on February 28, 2026, to ensure smooth collection of taxes and duties nationwide.
FBR Chairman Rashid Mahmood Langrial held a meeting with Pakistan’s major Tax Bar Associations to discuss taxpayer challenges, including super tax and SRO 350(I)/2024. A special committee was announced to address issues and propose practical solutions. Key FBR officials and Tax Bar representatives participated in detailed deliberations to enhance policy, system efficiency, and voluntary compliance, reflecting FBR’s commitment to facilitating taxpayers and improving Pakistan’s taxation framework.
The Federal Constitutional Court has upheld tax authorities’ powers to conduct raids and inspections without notice, even when no formal tax case is pending against a taxpayer under Section 175.
The Punjab Revenue Authority (PRA) has launched strict enforcement actions in Lahore against businesses delaying tax payments and manipulating records, conducting audits, issuing notices, and promoting digital monitoring through the Electronic Invoicing and Monitoring System (E-IMS) to improve tax compliance.
Pakistan Customs will hold a public auction in Gadani featuring imported cars, SUVs, buses, and commercial vehicles, offering buyers an opportunity to purchase vehicles at competitive prices.
Credit card payments above Rs200,000 per month are automatically reported to FBR by banks under Rule 39A, increasing financial monitoring and tax compliance in Pakistan.
OICCI has called on FBR to immediately clear Rs103 billion in pending tax refunds, stating that delays are disrupting operations and weakening foreign investor confidence in Pakistan.
The Federal Board of Revenue (FBR) has updated property valuation rates for Naval Anchorage Islamabad, revising prices for residential and commercial plots with and without possession, along with agro and poultry farms. The new rates will affect withholding tax, capital gains tax, and overall property transaction costs in the area.
The Federal Board of Revenue (FBR) has collected over Rs5 billion in income tax from prize bond winnings in the first seven months of FY2025-26. While overall collections remained stable compared to last year, January 2026 saw a 12% decline. Prize bond winnings are taxed at 15% for ATL filers and 30% for non-filers under Section 156 of the Income Tax Ordinance, 2001.