taxation

Pakistan Tax Bar Association requests December extension for income tax returns

Taxpayers face technical hurdles with the IRIS portal and incorrect minimum tax calculations despite a recent deadline extension to October 15.

Shehbaz Sharif sets December 31 deadline for automated production monitoring systems

The initiative aims to capture the country's full tax potential by tracking manufacturing output across diverse industrial sectors.

Punjab Revenue Authority orders crackdown on fake receipts and tax evasion

The PRA issued notices to over 70 restaurants and ordered immediate action against food chains refusing digital payments or using fake receipts.

FBR to launch tax monitoring systems across 18 sectors by December 2026

The initiative aims to broaden the tax net and follows enforcement measures that boosted revenue by Rs. 1.3 trillion over three years.

Malik states government needs multilateral input to change petroleum levy targets

The Minister noted that regional tensions impact fuel supply, while refineries are working to digitise the supply chain.

FBR raises customs values for imported almonds, revising previous rulings

The changes affect shelled, soft shell, and hard shell varieties, impacting import costs across Pakistan.

FBR imposes new conditions for claiming electronic resource tax credits

The Federal Board of Revenue issued a notification detailing stricter requirements for claiming tax credits related to electronic resource investments.

Lionsgate secures $30.8 million tax incentive for Michael sequel

The $226 million total incentive pool supports 35 films, including 28 independent projects.

KSE-100 Index fell over 2,300 points Monday amid local political uncertainty

Four FBR personnel killed in separate firing incidents across Dera Ismail Khan

One incident near Bannu Road resulted in a constable's death and a policeman's injury.

FBR proposes waiving surcharge for late filers joining Active Taxpayers’ List

The proposal allows late filers to join the ATL without the usual surcharge, provided they commit to a six-month property restriction.

Trump signs order expanding tax-exempt diesel fuel access for US users

The directive defers federal excise tax payments and aims to secure diesel access for farmers and industry.