AccuTax Worldwide

03/04/2026

حکومت پاکستان نے نان فائلرز کے بینک اکاونٹس سیز کرنا شروع کردیے۔ مزاحمت سے بچنے کیلے آج ہی فائلر بنیں۔

08/01/2026

ISLAMABAD: The Federal Board of Revenue (FBR) will start imposing heavy penalties on companies, which have failed to integrate with the board’s system to issue electronic sales tax invoices.

Sources told Business Recorder here on Wednesday that the process of penalizing non-compliant companies would start in January 2025, as the deadline of integration for all categories have been expired.

The FBR issued SRO 1852(I)/2025 under which the Board had extended the deadline for all public companies and importers for sales tax registration up to October 15, 2025.

08/01/2026

*🚨Important Tax Law Update | Refund Adjustment Case (Pakistan Tax Law) 🇵🇰*

A very interesting and important decision by the Appellate Tribunal Inland Revenue (ATIR) regarding adjustment of refunds against tax liability 👇

*🔹Background*
✔ A taxpayer had old refunds (2004–2008)
✔ ATIR had already allowed the refund in 2011
✔ FBR did not pass appeal effect order
✔ In Tax Year 2013, taxpayer adjusted the refund against current tax payable

*🔹FBR’s Objection*
❌ Department disallowed the adjustment
❌ Reason: “No order under section 170(4) exists”
❌ Order passed u/s 122(5A) and confirmed by CIR(A)

*🔹Core Legal Question*
⚖️ Is a separate order under section 170(4) necessary before adjusting a refund?

*🔹Tribunal’s Powerful Findings*
✅ NO separate 170(4) order is required
✅ Once appeal is decided and department fails to give effect in time, refund becomes AUTOMATICALLY determined by law
✅ Department cannot take benefit of its own negligence
❌ Section 122(5A) was wrongly invoked
❌ CIR(A)’s order was against binding High Court judgments

*🔹Key Legal Support*
📚 2013 PTD 368 (Sindh High Court)
Requiring 170(4) order before adjustment defeats the law and FBR’s own instructions

*🔹Final Outcome*
🏆 Taxpayer WON
📌 Orders of Addl. CIR & CIR(A) set aside
📌 Refund must be accepted and adjusted
📌 Appeal effect order must be issued

✨ Golden Principle Established:
*⚠️FBR cannot benefit from its own delay or inaction.*

*💡 Why this matters?*
✔ Huge relief for taxpayers
✔ Stops misuse of section 122(5A)
✔ Strengthens rule of law & legal certainty
✔ Protects taxpayers from administrative injustice

08/01/2026

*FBR Holds Awareness Seminar at Gujranwala Chamber of Commerce & Industry*

*In line with the Prime Minister’s vision to broaden the tax base, the Federal Board of Revenue (FBR) organized an awareness seminar at the Gujranwala Chamber of Commerce & Industry (GCCI) to engage the business community on reforms promoting tax compliance, transparency, and accountability.*

*The seminar, organized by FBR’s Taxpayer Services (TPS) Wing under Member TPS Ms. Tehmina Aamer, featured Mr. Muhammad Muti-ur-Rehman Mumtaz, Secretary Taxpayers’ Education & Facilitation, and Mr. Abdul Rehman Sheikh, Second Secretary Facilitation.*

A large number of traders, industrialists, and GCCI office bearers attended, including Senior Vice President Mr. Saad Jamil and Vice President Mr. Faisal Sattar Mughal.

FBR officials presented key reforms under the FBR Transformation Plan, including:
• Point of Sale (POS) Integration
• Track & Trace System (TTS)
• Digital Invoicing
• Faceless Customs System
• Cargo Tracking & Direct Port Delivery Systems
• Reward & Rating System
• Video Analytics for production monitoring

*Video Analytics has been deployed in sugar and cement sectors and is being implemented in textiles. These initiatives have enhanced voluntary compliance, increased the tax-to-GDP ratio, and strengthened accountability across Pakistan’s revenue framework.*

*An interactive Q&A session allowed participants to seek guidance on tax facilitation and compliance, which was addressed comprehensively by the FBR team.*

*The seminar concluded with souvenirs and giveaways presented to GCCI office bearers, symbolizing collaboration and appreciation.*

*The event reinforced FBR’s commitment to fostering a transparent, efficient, and facilitative tax system to support Pakistan’s economic growth.*

07/01/2026

*Corporate Growth Accelerates: SECP Registers Over 21,000 New Companies in First Half of FY, Marking Strong Economic Confidence*

The Securities and Exchange Commission of Pakistan (SECP) has registered 21,668 new companies in the first half of the current FY — a remarkable 29% increase from 16,839 in the same period last year!

These new incorporations brought in Rs. 30.7 billion in paid-up capital, pushing the total number of registered companies to 279,724.

*Key highlights:*
• Tech is booming: IT & E-Commerce leads with 4,277 new companies
• Followed by Trading (2,997), Services (2,686), and Real Estate (2,031)
• Foreign investment remains strong: Rs. 1.26 billion from 731 investors, with China leading at 71%

*This surge across diverse sectors reflects growing investor trust and a brighter economic outlook for Pakistan.*

06/01/2026

*📢 SECP Launches Survey on Family-Friendly Workplace Policies (FFP 2026)!*

We invite all private and public unlisted companies to participate in shaping inclusive workplaces.
📝 Take the survey now: https://esgsustain.secp.gov.pk/surveys/

*Why participate?*
✅ Easy-to-fill automated survey – quick and user-friendly
✅ Automated scoring dashboard – ensures transparent and objective evaluation
✅ Expanded scope – now including public unlisted companies

*⏰ Submission Deadline: January 15, 2026*

*Join us in shaping inclusive and family-friendly workplaces across Pakistan’s capital markets!*

03/01/2026

PSX Year in Review 2025: Momentum, Growth & Investor Confidence

From a strong surge in the KSE-100 Index to record volumes, new listings, and expanded investor education, 2025 marked one of PSX’s strongest years yet. As we look ahead to 2026, we remain focused on innovation, transparency, and inclusive growth.

Read the complete Year in Review:

A Year Of Momentum and Growth As 2025 draws to a close, the Pakistan Stock Exchange reflects on a year of strengthening momentum supported by improving macroeconomic stability and renewed investor confidence. Building on our strategic priorities of Market Development, Operational Excellence, and Gov

02/01/2026

SECP Approves Prospectus for Offer for Sale/Initial Public Offering of Signature Residency REIT

The Securities and Exchange Commission of Pakistan (SECP) grants approval for issuance, circulation and publication of Prospectus for the Offer for Sale/Initial Public Offering of 8,250,000 (i.e. 25% of total units) of Signature Residency REIT. The approval marks continued IPO momentum for FY 2025-26, being the:

✓ fifth listing on the PSX Main Board; and
✓ 2nd REIT listing of this year.

Listing of SRR would bring total number of PSX listed REITs to five. The offering reflects revitalized issuer confidence in capital market-based financing and highlights growing investment opportunities for the public.

02/01/2026

Type of Invoices.
Important for normal business

02/01/2026

*FBR conducted a tax awareness session at Al-Rahim Group of Companies Karachi as part of its outreach initiative to promote tax literacy. The seminar aimed at enhancing Tax Compliance & raising awareness on broadening of tax base.*

*The FBR officers delivered a comprehensive presentation on the significance of timely & voluntary tax compliance. They urged taxpayers to be honest & responsible in filing their sales tax & income tax returns for the betterment of the country’s economy.*

*The session concluded with an interactive discussion where participants appreciated FBR efforts to enhance tax awareness through holding of such seminars. Both sides also exchanged souvenirs to mark mutual cooperation in promoting tax education.*

02/01/2026

*Finance Minister Addresses FBR Field Formations, Commends Highest-Ever December Revenue Collection*

*Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has lauded the Federal Board of Revenue (FBR) field formations for achieving the highest tax collection ever recorded in the month of December, describing the December 2025 performance as a strong validation of the government’s fiscal reform agenda and sustained focus on compliance, enforcement, and digitization.*

Addressing Team FBR and field formations via a video link conference, the Finance Minister stated, “The progress made over the last 18 months is remarkable, and the December 2025 collection is extremely encouraging.” He emphasized that the government’s strategy of digitizing the economy, promoting cashless transactions, and strengthening enforcement while maintaining business momentum has begun to deliver tangible and sustainable results.

Reflecting this policy direction and administrative resolve, the Federal Board of Revenue collected Rs 1,427.1 billion in December 2025, achieving 99 percent of its monthly target of Rs 1,446 billion. This performance represents the highest revenue collection for the month of December in any year, underscoring improved tax compliance and effective enforcement across the system.

The Inland Revenue Service (IRS) demonstrated outstanding performance by achieving 99.8 percent of its target, collecting Rs 1,308 billion against a target of Rs 1,310 billion.

On a month-on-month basis, revenue collection surged by 59 percent, rising from Rs 898 billion in November to Rs 1,427.1 billion in December. This growth was broad-based across all major tax heads. Income tax collection more than doubled, increasing by 107 percent, from Rs 402 billion in November to Rs 831.5 billion in December. Sales tax collection rose by 25 percent to Rs 403.7 billion, while Federal Excise Duty (FED) increased by 6 percent to Rs 72.8 billion. Customs duty collection also grew by 15 percent, reaching Rs 118.9 billion.

Under the continuous oversight of the FBR Board and in line with the Finance Ministry’s reform roadmap, these results reflect a decisive shift toward stronger compliance, improved enforcement, and institutional accountability, reinforcing confidence in the government’s commitment to sustainable revenue growth.

Concluding his address, the Finance Minister urged FBR field formations to further intensify their efforts and double down on initiatives aimed at deepening and widening the tax net. He emphasized that better tax compliance and enforcement measures is the only sustainable way to ease the tax burden on the formal sector.

*The Finance Minister expressed confidence that Team FBR, through continued diligence, professionalism, and effective enforcement, would play a pivotal role in achieving this critical national objective.*