Tag: FBR
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FBR Foils Large Silver Smuggling Bid at Karachi’s International Mail Office
Major Smuggling Ring Foiled at Karachi’s International Mail Office In a significant crackdown on illicit cross-border activities, Federal Board of Revenue (FBR) customs officials at Jinnah International Airport in Karachi thwarted a large-scale attempt to smuggle silver into Pakistan through the International Mail Office (IMO). The operation underscores the ongoing vigilance of Pakistan’s customs authority…
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FBR Foils Bid to Smuggle 79.18kg Silver Through Karachi Mail Office
Dubai-bound smuggling attempt thwarted at Karachi’s International Mail Office The Federal Board of Revenue (FBR) has stopped a substantial silver smuggling bid at Jinnah International Airport, Karachi, highlighting rising vigilance at Pakistan’s mail and cargo channels. Officials at the International Mail Office (IMO) in Karachi detected irregularities during a routine inspection of incoming consignments and…
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FBR Foils 79.18kg Silver Smuggling Bid at Karachi’s IMO Hub
Summary: A Bold Smuggling Attempt Uncovered at Karachi In a high-stakes interception, the Federal Board of Revenue (FBR) customs officials at Jinnah International Airport, Karachi, thwarted an attempt to smuggle a substantial quantity of silver into Pakistan via the International Mail Office (IMO). The discovery underscores the ongoing vigilance of customs authorities at major entry…
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Pakistan’s FBR Faces Rs274 Billion Shortfall in FY26: Tax Filings Hit a Record, Yet Revenue Gaps Persist
Overview: A Paradox of Record Filings and Growing Shortfalls The Federal Board of Revenue (FBR) in Pakistan has reported a widening revenue gap for the first four months of the fiscal year 2025-26, despite witnessing near-record or record levels of tax filings from individuals and businesses. The data points to a complex revenue picture: high…
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Pakistan’s FBR Faces Rs274 Billion Shortfall in Early FY26 Amid Record Filings
Overview: A Record Yet Uneven Tax Frontier Pakistan’s Federal Board of Revenue (FBR) entered FY26 with a paradox: total tax filings hit record levels, yet the revenue shortfall widened in the early months of the fiscal year. In October 2025, the FBR collected Rs950 billion against a target of Rs1,026 billion, translating to a deficit…
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FBR Faces Rs274bn Shortfall in FY26 Four Months Despite Record Tax Filings
Overview: Record Filings, Shortfall in Four Months The Federal Board of Revenue (FBR) has reported a widening gap between tax collection targets and actual receipts for the first four months of the fiscal year 2026. Even as the tax machinery logged what officials describe as record filings and declarations, monthly and cumulative targets were missed,…
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Pakistan Moves Closer to IMF SLA Amid Flood Losses
Pakistan Inches Toward IMF Staff-Level Agreement as Flood Losses Are Tallied Pakistan is edging closer to finalising a staff-level agreement (SLA) with the International Monetary Fund (IMF), with the talks focused on the external account, verified flood-related losses, and the necessary fiscal adjustments across central and provincial accounts. The progress comes as the country prepares…
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Government Scraps Asset Valuation Requirement in Tax Returns
Overview of the Decision In a significant shift, the government has scrapped the asset valuation column from the tax return form for the fiscal year 2025. This decision, made on the directive of Prime Minister Shehbaz Sharif, follows mounting pressure from various stakeholders including tax practitioners and legal experts. The move has sparked renewed discussions…
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Govt Scraps Asset Valuation Requirement from Tax Returns
Introduction In a significant shift, the government of Pakistan has decided to eliminate the asset valuation column from the income tax return form for the year 2025. This decision, made under the directive of Prime Minister Shehbaz Sharif, comes on the heels of mounting criticism from various stakeholders, including tax practitioners and legal experts. Background…
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FBR’s Ambitious Plan to Boost Tax-to-GDP Ratio to 18%
Introduction The Federal Board of Revenue (FBR) of Pakistan has recently unveiled a comprehensive transformation plan intended to significantly increase the country’s tax-to-GDP ratio from 10.24% to 18%. This ambitious initiative aims not only to enhance fiscal stability but also to bolster economic growth in the region. Understanding the Tax-to-GDP Ratio The tax-to-GDP ratio is…