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Business

Web Desk
Mar 27, 2025

FBR reports 29.4 per cent jump in direct tax collection in six months

Tax revenue has seen a significant boost in the first six months of the 2024-25 fiscal year, with direct tax collection rising 29.4 per cent compared to the same period last year, according to the Federal Board of Revenue (FBR).

Business

Web Desk
Mar 25, 2025

PBC criticises complex tax system, calls for gradual sales tax reduction

The Pakistan Business Council (PBC) has urged the Federal Board of Revenue (FBR) to reduce the general sales tax (GST) by 1 per cent annually until it reaches 15 per cent, arguing that the current 18 per cent rate encourages tax evasion.

Business

Web Desk
Mar 25, 2025

FBR grants deadline extension for sales tax, excise filings

The Federal Board of Revenue (FBR) has extended the deadline for submitting sales tax and federal excise returns for February 2025.

Business

Web Desk Karachi
Mar 14, 2025

FBR’s tax target reduced to Rs12.35 trillion as government revises economic framework with IMF

This adjustment entails a downward revision of Rs620 billion, despite the tax-to-GDP ratio target remaining unchanged at 10.6 percent.

Business

Web Desk Karachi
Mar 13, 2025

Agriculture income tax collection mechanism under review ahead of 2025 rollout

Given that the FBR has already struggled with tax compliance in well-documented urban sectors, provincial tax agencies—still developing—are unlikely to enforce tax collection successfully in remote rural regions.

Business

Web Desk
Mar 11, 2025

Federal Tax Ombudsman resolves over 12,900 complaints in 2024

The Federal Tax Ombudsman (FTO) made significant strides in resolving taxpayer grievances in 2024, with the number of complaints resolved increasing by 63.69 per cent to 12,914, compared to 7,889 complaints settled in 2023, as revealed in the FTO’s Annual Report for 2024.

Business

Web Desk Karachi
Mar 07, 2025

FBR seeks IMF approval for temporary tax reductions in tobacco, real estate, and beverages

By implementing these cuts, the FBR anticipates an additional Rs100 billion in tax revenues for the national treasury during the April-June quarter of the current fiscal year.

Business

Web Desk Karachi
Mar 05, 2025

Government aims to eliminate circular debt as PM highlights economic turnaround

Referring to SOEs as “bottomless pits”, he said they required immediate redress and underscored the necessity to eliminate the circular debt within the power sector.

Business

Web Desk Karachi
Mar 05, 2025

PTEA advocates for comprehensive trade reforms to bolster textile exports

These appeals were articulated as part of the PTEA’s proposals for the budget of 2025-26, which is currently under preparation by the Finance Ministry and the Federal Board of Revenue.

Business

Web Desk Karachi
Mar 05, 2025

Fiscal tightening looms as government prepares for IMF review

The new fiscal measures, expected to come into effect from April 1, could adopt a three-pronged strategy: strict management of the PSDP; improved revenue collection from sectors with lax enforcement, such as retail and real estate; and the activation of contingency measures.