Govt misses four-month tax collection target by Rs190 billion
Shortfall may lead to either revising the tax target or introducing a mini-budget
Pakistan’s fiscal framework agreed with IMF falls apart, needs crucial revisionsÂ
Three of the four primary indicators have diverged from their expected target in Q1 FY2024-25
FBR ramps up crackdown on cement sector, penalizes leading manufacturer for tax fraud
Accusation involves the use of bogus coal purchase invoices which unearthed a complex scheme involving multiple blacklisted entities
Govt achieves just 0.001% under Tajir Dost scheme, misses IMF’s target of Rs10bn for Q1
Collecting less than Rs1 million raises concerns over the govt’s ability to meet future commitments and prompts fears of a mini-budget.
FBR cracks down on sales tax fraud, detains five in nationwide operation
Top CFOs and fraudsters arrested; fake invoices linked to billions in tax losses.
Govt extends tax returns filing deadline to October 31
FBR reports surge in tax returns but grapples with increasing nil-filers for tax year 2024
FBR denies any further extension in returns filing deadline
SIMs of non-filers will be blocked and they will not be able to buy vehicles or property, says FBR spokesperson
Govt concedes to IMF pressure to separate tax policymaking, revenue collection
Govt forms new cell for tax policymaking, aims to curb loopholes and recover Rs7 trillion in lost revenue.
Rs3.4 trillion sales tax evaded across key economic sectors, says finance minister
Warns penalties including up to 10 years in jail and substantial fines to tax evaders especially to CFOs of corporate firms
FBR, Customs empowered to confiscate vehicles used in transporting smuggled goodsÂ
New measure intends to ensure the permanent removal of tools used in smuggling operationsÂ
Gang exploits FBR vulnerability, defrauds Rs 81 billion
Substantial losses to the public exchequer highlight the urgent need for targeted measures against tax fraud in dormant accounts.
FBR set to bring 2.8 million households into tax net
Filing of tax returns has seen a 105% increase to 3.7 million from last year’s 1.8 million, says FBR spokespersonÂ
FBR misses first quarter revenue target by Rs96bn
Government faces tough challenges to meet ambitious FY25 target of Rs12.97tr, may consider additional revenue measures
FBR extends tax return filing deadline to October 14
Extension follows requests from trade bodies and public, FBR reports 87.9% increase in returns filed so far
FBR rules out new taxes, mini-budgetÂ
Government aims to strengthen action against non-filers without extending tax return deadline Â