Token tax increased on cars
- 20-Jun-2026
ISLAMABAD: The token tax on vehicles in Islamabad has been increased following approval from the National Assembly (NA) Standing Committee on Finance. Under the newly approved rates, the token tax on 1000 CC vehicles has been raised to Rs. 20,000, ARY News reported. Briefing the committee, the Deputy Commissioner (DC) of Islamabad apprised members that […]
Used car traders get much anticipated good news from govt
- 20-Jun-2026
ISLAMABAD: In a significant shift in Pakistan’s automobile import policy, the federal government is considering lifting the restriction on the import of used vehicles that are up to five years old, a move expected to benefit traders and consumers alike. The development was revealed by Federal Secretary Commerce Jawad Paul during a meeting of the […]
NA body divided over tax exemption proposal for PIA
- 18-Jun-2026
Members of a National Assembly parliamentary committee have expressed strong reservations over a proposed tax exemption for Pakistan International Airlines (PIA). The proposal under consideration relates to tax relief on the import of new aircraft and spare parts for PIA. The matter sparked debate during a NA committee meeting, where members questioned the fairness and […]
Shocking Tax Theft: 9,000 Pakistanis Hold Rs. 750 Billion But Pay Zero Income Tax
- 17-Jun-2026
ISLAMABAD: The Chairman of the Federal Board of Revenue (FBR) has revealed that 9,000 individuals in Pakistan collectively hold a staggering Rs. 750 billion in their bank accounts but have not paid a single penny in income tax, ARY News reported. FBR Chairman Rashid Mahmood Langrial made these startling disclosures regarding systemic tax evasion and […]
Pakistan's 9,000 people hold Rs 750 billion bank deposits: FBR
- 17-Jun-2026
ISLAMABAD: Chairman Federal Board of Revenue (FBR) informed the National Assembly’s Standing Committee for Finance about startling disclosures after FBR’s access to the databases. FBR Chief Rashid Langarial was testifying on the Pakistan’s new tax operating model, before the finance standing committee of the lower house chaired by Syed Naveed Qamar. Rashid Langarial while informing […]
IMF 'resists' Pakistan’s push for real estate relief
- 17-Jun-2026
ISLAMABAD: The International Monetary Fund (IMF) has not agreed to Pakistan’s push for relief to the real estate sector, ARY News reported on Wednesday, citing sources. As per details, virtual discussions between Pakistan’s economic team and the International Monetary Fund (IMF) on providing relief to the real estate sector are currently underway. Sources said the […]
Senate body opposes 18% GST on stationery items
- 16-Jun-2026
ISLAMABAD: The Senate Standing Committee on Finance has opposed a proposal to impose an 18% sales tax on stationery items, warning that the move would place an additional financial burden on students and parents. During the committee meeting, members expressed concern over the proposed tax on educational supplies, including pencils, pens, geometry boxes and other […]
Social media creators to pay five percent withholding tax
- 16-Jun-2026
A Senate standing committee on Finance in Pakistan has approved a government proposal to impose a five percent withholding tax on income earned through social media platforms, including YouTube, Facebook, Instagram, and TikTok, while exempting individuals earning up to Rs. 600,000 annually. The proposal was approved during a meeting of the standing committee, chaired by […]
Pakistan cuts customs duties on 7,500 industrial raw materials, machinery items
- 13-Jun-2026
ISLAMABAD: The government has announced a major reduction in customs tariffs under the Budget 2026-27, providing relief to industries by cutting duties on thousands of raw materials, machinery, and spare parts, according to the Finance Bill. As per the bill, customs duties on more than 7,500 items used as industrial raw materials, machinery, and components […]
Budget 2026–27 to offer relief for salaried class, farmers
- 12-Jun-2026
The federal government has decided to introduce a series of relief measures for farmers, salaried individuals and the real estate sector in the upcoming budget 2026–27, ARY News reported on Friday, quoting sources. The budget for fiscal year 2026-27 will be presented by Finance Minister Muhammad Aurangzeb in National Assembly today. According to details available […]