ISLAMABAD — The Federal Board of Revenue (FBR) is set to undergo its most aggressive transformation yet, with the upcoming Finance Bill 2026 mapping out nearly Rs1 trillion in new policy and enforcement measures. According to senior ministry sources, the FBR will legally transition into a completely “Faceless Entity” starting October 1, 2026, to eliminate systemic corruption. To achieve this, the bill introduces severe, extraordinary legal penalties for businesses and manufacturers who refuse or fail to comply with mandatory digital production monitoring and POS integration by July 1. Additionally, the bill will introduce federal excise duties on naphtha petroleum products and enforce a fixed sales tax regime on the steel sector.
