FTO makes online hearings default for tax complaints

Pakistan Customs has ordered officials to clear the backlog of import and export containers at the Karachi International Container Terminal...

Pakistan’s cotton output falls to less than half of peak level: OICCI report

KARACHI: Pakistan's cotton production has dropped to less than half of its historic peak, causing the country an estimated annual...

Pakistan, Iran discuss trade, economic cooperation and connectivity

ISLAMABAD: Iran's Deputy Minister of Transport Mehran Ghorbani and Deputy Minister of Interior for Economic Affairs Mehdi Dousti met Minister...

Petrol pump owners defer nationwide strike after negotiations with govt

ISLAMABAD: The All Pakistan Petrol Pumps Owners Association (APPPOA) on Wednesday postponed its planned nationwide strike after successful negotiations with...

Pakistan ‘seeks’ $10b in US backstop facility to boost reserves

WASHINGTON DC: Pakistan has asked the United States for a $10 billion exchange stabilisation facility, according to a source briefed...

S&P lifts Pakistan’s credit rating to ‘B’ on institutional stability, IMF reform progress

ISLAMABAD: Credit ratings agency S&P Global raised Pakistan's long-term sovereign credit rating to "B" from "B-" on Wednesday, citing stronger...

Pakistan seeks new oil sources amid Gulf shipping crisis

KARACHI: Pakistan has started identifying alternative sources of crude oil imports following the reported closure of the Strait of Hormuz...

FBR forms independent committees to scrutinize tax appeals before higher courts

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed Independent Case Scrutiny Committees to prevent the tax department from pursuing...

FBR revises FED rates on domestic & international air travel

ISLAMABAD: The Federal Board of Revenue (FBR) has revised the Federal Excise Duty (FED) rates on domestic and international air...

FBR excludes FTA, PTA customs concessions from 2026 tax expenditure report

ISLAMABAD: The Federal Board of Revenue (FBR) has left customs duty concessions granted under Free Trade Agreements (FTAs) and Preferential...

Pakistan banks expected to report lower Q2 2026 profits

KARACHI: Pakistan’s banking sector is expected to report lower earnings in the second quarter of 2026 as the impact of...

FTO orders FBR to fix IRIS glitches blocking Rs2.3m tax credit

ISLAMABAD: The Federal Tax Ombudsman (FTO) has ruled that the Federal Board of Revenue (FBR) cannot use technical limitations of...

FBR imposes excise duty on e-liquids used in vapes & e-cigarettes

ISLAMABAD: The Federal Board of Revenue (FBR) has for the first time brought e-liquids used in vapes and electronic cigarettes...

PTBA raises legal concerns over fixed Tax Scheme for small shopkeepers

SLAMABAD: The Pakistan Tax Bar Association (PTBA) has expressed serious legal and procedural concerns regarding the Fixed Tax Scheme (FTS)...

SBP directs banks to integrate with PSW price verification portal by July 31

KARACHI: The State Bank of Pakistan (SBP) has directed all commercial banks operating as authorised dealers in foreign exchange to...

FBR abolishes CTO Islamabad, renames MTO Karachi as CTO-II

ISLAMABAD: The Federal Board of Revenue (FBR) has abolished the Corporate Tax Office (CTO) Islamabad, established a new Regional Tax...

xr:d:DAFUw169jpg:16,j:2231928652156531663,t:23063008

IMF sets new conditions for settlement of gas sector circular debt

ISLAMABAD: The International Monetary Fund (IMF) has proposed new conditions for resolving Pakistan’s gas sector circular debt, including formal recognition...

FIA sets up Cryptocurrency Investigation Unit to tackle financial crimes

ISLAMABAD: The Federal Investigation Agency (FIA) has established a Cryptocurrency Investigation Unit on the special instructions of the FIA Director...

FBR notifies jurisdiction of CCIR at CTO-II Karachi