FBR and Jewelry Association Deadlock Over Section 175C Monitoring Powers
Negotiations between the FBR and APGJA end without agreement as jewelry traders protest the stationing of tax officials at business premises for real-time monitoring.
Pakistan Court Dismisses Appeals Against Super Tax, Government to Gain Rs300bn
Pakistan’s Federal Constitutional Court has dismissed all appeals against the super tax, restoring Section 4B of the Income Tax Ordinance and securing over Rs300 billion in revenue for the government.
Federal Constitutional Court To Hear Super Tax Cases Including DG Khan Cement Petition
Federal Constitutional Court of Pakistan schedules hearing of high-profile super tax cases under Sections 4B and 4C of Income Tax Ordinance, impacting major corporations including DG Khan Cement.
FBR Amends Banking Schedule to Streamline Taxable Income Reporting for Banks
The Federal Board of Revenue (FBR) has amended the banking schedule of the Income Tax Ordinance 2001 to align banking income with taxable income, introducing provisions on rental expenses, bad debts, and compliance requirements effective July 1, 2025.
Fiscal Rebalance: FBR Moves to Align Bank Taxation with Digital Economy Needs
The Federal Board of Revenue (FBR) in Pakistan is pushing to remove the special tax privileges extended to banks under the Seventh Schedule of the Income Tax Ordinance 2001. This proposed shift aims to bring banks under the normal corporate tax regime, potentially impacting their digital finance strategies and operational models as the nation seeks to broaden its tax base.