FBR arrest powers curtailed as govt pushes tax reforms, Kayani says

ISLAMABAD: In a significant development, the Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to halt...

PBC urges FBR to withdraw default surcharge notices on super tax

ISLAMABAD: The Pakistan Business Council has called on the Federal Board of Revenue to immediately withdraw what it termed “illegal”...

Tax audit recoveries surge 110pc in FY2024-25: FBR

ISLAMABAD: Income tax recoveries through audit proceedings jumped by 110% in fiscal year 2024-25, signaling stronger enforcement and improved audit...

Pakistan returns $2b to UAE, confirms State Bank of Pakistan

KARACHI: The State Bank of Pakistan (SBP) has confirmed that the government has repaid $2 billion to the United Arab...

Electricity price may rise as Discos seek extra fuel cost charge

ISLAMABAD: Electricity consumers may face higher power bills starting in May, as power distribution companies have requested the national energy...

Pakistan returns to global markets with $500m Eurobond after four years

ISLAMABAD: Pakistan has re-entered the international financial market after a gap of four years by successfully issuing a $500 million...

Faisalabad Customs promotes EFS to boost efficiency: Collector Dr. Rizwan Basharat

FAISALABAD: Officials from Pakistan Customs have urged exporters to fully utilise the Export Facilitation Scheme (EFS), highlighting that businesses at...

Aurangzeb advance economic diplomacy, engages global partners in Washington

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, concluded final day of IMF-WB Spring Meetings in Washington. He...

FinMin meets AIIB president, discusses infrastructure financing, strategic engagement

WASHINGTON: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a productive meeting with Ms. Zou Jiayi, President of...

Light diesel, jet fuel prices drop in Pakistan

ISLAMABAD: The impact of declining global petroleum prices has begun to reflect in Pakistan, as the government has reduced the...

Aurangzeb meets Baroness Jenny Chapman

WASHINGTON: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held an important meeting with Jenny Chapman, Baroness Chapman of...

Visa, Mastercard face scrutiny over $250m outflows as Pakistan seeks cheaper payments

ISLAMABAD: Pakistan is facing renewed scrutiny over its reliance on global payment networks, with policymakers highlighting that Visa and Mastercard...

FBR posts 163pc surge in tax collection from petroleum products

ISLAMABAD: Federal Board of Revenue (FBR) said on Saturday that withholding income tax collection from petroleum products rose by 163%...

Imported phones taxed at 54%, locally assembled devices at 25%, NA committee told

ISLAMABAD: The National Assembly Standing Committee on Finance has raised concerns over the high tax burden on mobile phones and...

FBR unearths large-scale corruption in Pakistan Customs

LAHORE: A sweeping investigation by the Federal Board of Revenue (FBR) has uncovered large-scale corruption within Pakistan Customs, resulting in...

ZLK Islamic Financial Services Engages with Turkish Ambassador

ISLAMABAD: Zahid Latif Khan, Chairman of ZLK Islamic Financial Services (Pvt.) Limited, along with Mr. Muhammad Abdullah Khan, Business Executive...

ICCI-CDA join hands to uplift the city

ISLAMABAD: The newly appointed Chief Commissioner Islamabad and Chairman of the Capital Development Authority (CDA), Lt. (R) Sohail Ashraf, has...

FCC hears challenge to Section 7E of Income Tax Ordinance over “Deemed Income” tax

ISLAMABAD: The Federal Constitutional Court (FCC) was informed on Wednesday that the levy of tax on deemed income under Section...

Pakistan gets approval to export fish to Russia