ISLAMABAD — Prime Minister Shehbaz Sharif has formally greenlit the next phase of aggressive automation for the Federal Board of Revenue (FBR), mandating an immediate shift toward a fully Faceless Tax Administration system. Meeting with an official FBR delegation in Islamabad following the conclusion of the fiscal cycle, the Premier lauded the tax machinery for […]
ISLAMABAD — Ending the fiscal year on a massive high, the Federal Board of Revenue (FBR) officially announced that it has crossed its downwardly revised tax collection target for FY25-26 by over Rs21 billion. Driven by a massive, stronger-than-expected wave of corporate and direct income tax receipts flowing in during the final weeks of June,
ISLAMABAD — Pushing for immediate cash-flow relief exactly one week after the formal passage of the federal budget, a high-level corporate delegation has presented a crucial roadmap to Minister of State for Finance Bilal Azhar Kayani. The apex trade representatives have strongly urged the state to clear outstanding refund backlogs amounting to a staggering PKR
ISLAMABAD — The Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla, has officially reviewed and endorsed a mandatory 5% tax on earnings generated through social media platforms under Finance Bill 2026. The new framework marks a massive push by the FBR to bring monetized content creation, influencer advertising, and digital entrepreneurs directly into
ISLAMABAD — In a major update to the recently presented Finance Bill, the federal government has proposed replacing the current tax exemption for IT exports with a fixed 1% final tax regime on export proceeds for software houses and digital services companies. While the IT industry had strongly lobbied for a full extension of tax
ISLAMABAD / KARACHI — Following the formal presentation of the Rs18.77 trillion federal budget, the government has introduced sweeping structural changes to target previously under-taxed sectors. Under the new Finance Bill guidelines, digital content creators, freelancers, and social media influencers will now face direct, automated withholding tax deductions processed seamlessly through the banking system. While
ISLAMABAD — In an emergency effort to absorb a glaring Rs800 billion revenue shortfall for the current year, the National Economic Council (NEC) is meeting today following a broader structural agreement between the PML-N and PPP to slash development envelopes across all tiers of the federation. Under the high-stakes agreement, provincial shares from the federal
ISLAMABAD — As final layout frameworks for the Federal Budget FY2026-27 are synchronized for June 10, the Finance Division has proposed a 10% to 15% salary increase for government employees (BPS 1-22) alongside a proportional bump in pensions. Designed to cushion the public sector workforce against high cost-of-living standards, the measure is being balanced against
KARACHI — Despite the State Bank of Pakistan (SBP) inching closer to its fiscal year foreign exchange reserve target of $18 billion, a surging trade deficit is threatening to erase recent remittance gains. Fresh financial data reveals that Pakistan’s trade deficit for the first 11 months of FY2025-26 has climbed by 17.48% to reach an
ISLAMABAD / KARACHI — The Tax Policy Unit of the Ministry of Finance and the FBR have completed an extensive review confirming that multiple sales and income tax exemptions will officially expire on June 30, 2026. Starting July 1, corporate operations, associations, and domiciled individuals within the erstwhile tribal areas (FATA/PATA) of KP and Balochistan
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