Tax, regulatory and professional updates for the accounting community.
Regulation
The Professional Accountants Forum, Pakistan (PAFO) has urged the Finance Ministry and Federal Board of Revenue to immediately publish income tax and wealth directories of parliamentarians for tax years 2020 to 2025.
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Regulation
The SECP has disposed of 98% of its adjudication caseload, issuing decisions in 573 cases and imposing Rs4.73 billion in penalties. Here's what this means for your compliance practice.
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Regulation
The Securities and Exchange Commission of Pakistan has issued a recommendation on insurance sector dispute resolution mechanisms, relevant to accountants advising on regulatory compliance and governance.
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Regulation
LTBA reports significant disruptions in tax return filing systems, affecting taxpayers' ability to submit returns on time.
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Regulation
The Punjab Revenue Authority's new Digital Central Monitoring Cell will reshape compliance expectations for accountants advising service-sector clients. Here's what practitioners need to know.
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Regulation
From 1 September 2026, the FBR requires all income tax assessments to be selected through its Compliance Risk Management System, eliminating discretionary case selection by field officers.
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Tax
The FBR introduced a simplified fixed tax scheme for small traders through SRO 1166(I)/2026, offering 1% tax on turnover with exemptions from audit and digital invoicing. Accountants must understand eligibility, voluntary election process, and advisory opportunities for small retail clients.
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Regulation
The FBR has expanded its electricity-linked sales tax regime for iron and steel manufacturers, adding four registered producers to the list under STGO No. 22 of 2026, marking the second phase of this proxy-based taxation policy.
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Tax
The Federal Board of Revenue is considering withdrawal of super tax and reduction in sales tax rates to address business flight and economic contraction in Pakistan.
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