The Federal Board of Revenue (FBR) has mandated banks to report account holders with monthly deposits of Rs10 million or more. The move, introduced under Rule 39 of the Income Tax Rules, aims to strengthen tax compliance, improve financial transparency, and enhance monitoring of high-value transactions across Pakistan.
The Sindh Revenue Board (SRB) has transitioned from the Positive List to a Negative List Tariff regime in FY 2025-26. Under the new system, all services are taxable unless specifically exempted, aiming to simplify service taxation, reduce classification disputes, and enhance revenue collection across Sindh.
A Senate Standing Committee sub-panel has raised serious concerns after 2,828 cartons of seized cigarettes worth Rs250 million reportedly went missing from FBR warehouses. The case has been referred to the FIA, while three officers were dismissed and eight transferred. Lawmakers have demanded a detailed report and enforcement record within two days.
The Punjab government has removed stamp duty on property transfers linked to company mergers and restructuring schemes approved by courts or the SECP. The decision reduces transaction costs, resolves legal ambiguities, and aligns Punjab with Islamabad’s exemption framework, supporting corporate consolidation and improving ease of doing business.
The Federal Board of Revenue (FBR) has introduced an automated mechanism in the IRIS system for sales tax adjustments through credit notes issued against unregistered buyers. The reform eliminates the need for Board-level approvals, enables faster processing by Commissioners Inland Revenue, and aims to improve business cash flow while maintaining transparency and compliance safeguards.
The Federal Board of Revenue (FBR) will auction 527 kanals of Bahria Town’s land in Murree to recover Rs26 billion in outstanding income tax for tax years 2020 and 2022. The move follows a Supreme Court ruling that barred developers from using the Percentage of Completion method, resulting in significant tax liabilities.
Pakistan’s banking sector has become the single-largest contributor to government revenue, according to the Pakistan Banks Association (PBA). However, the association cautions that rising corporate taxes are squeezing bank profitability, discouraging foreign investment, and limiting credit expansion to the private sector.
The Federal Board of Revenue (FBR) has announced strict enforcement against textile spinning units that fail to install the mandatory Digital Eye video analytics system. Non-compliant units may face import embargoes, blacklisting, penalties, and suspension of sales tax registration.
The Federal Board of Revenue (FBR) has added a timed CAPTCHA feature on the IRIS portal login page to curb spam and automated bot activity. The new 15-second verification system strengthens security and safeguards taxpayer information during online access.
The Federal Board of Revenue (FBR) has recorded a 21% increase in dividend tax collection during July–January FY26, reaching Rs116.31 billion compared to Rs96 billion last year, though January figures showed a notable decline.