ISLAMABAD: The Federal Board of Revenue (FBR) has flagged a sudden decline in taxable income reported by major exporters across Pakistan and ordered strict scrutiny.
Field offices have been directed to review export-related tax returns thoroughly, with legal action for any underreporting without valid justification.
Under recent amendments to the Income Tax Ordinance, including Section 154, the FBR has tasked its field formations to identify and examine 10 to 30 major exporters operating in Karachi, Lahore, and Islamabad.
Officials noted that following the introduction of minimum tax on export income under the Finance Act, some exporters have allegedly underreported their taxable income.
The FBR has issued a stern warning: exporters who understate income without valid reasons may face legal consequences. All suspicious cases are to be reported to FBR headquarters by January 1, 2026, reinforcing the board’s commitment to transparency and compliance in the export sector.
