MUZAC

17/02/2026

11/02/2026

مورخہ 12 فروری 2026 سے اسلام آباد میں روایتی (کاغذی-manual) اسٹامپ پیپر کا اجرا مکمل طور پر بند کر دیا گیا ہے۔ اس تاریخ کے بعد کسی بھی قسم کا روایتی اسٹامپ پیپر قابلِ قبول نہیں ہوگا۔ اب صرف ای-اسٹامپ پیپر ہی قانونی طور پر درست اور قابلِ قبول تصور کیا جائے گا۔

11/02/2026

🔔 Sales Tax Update | SRO 14(I)/2026
FBR ne Section 74, Sales Tax Act 1990 ke under
condonation period ko 3 saal se kam karke 2 saal kar diya hai.
Ab kisi bhi sales tax matter mein 2 saal se zyada delay par
condonation allow nahi hogi.

10/02/2026

FBR has rolled out a new compliance measure by adding “Buyer Verification Status” to Annexure C of the monthly sales tax return, marking a significant step toward strengthening transparency and data accuracy.

According to FBR, the newly introduced field will allow taxpayers to verify whether their buyers are active and registered within the system before submitting returns. The move is designed to improve validation of transaction data and reduce mismatches between buyer and seller records

09/02/2026

The Federal Constitutional Court has temporarily suspended the additional tax on poultry feed supplied to poultry farmers. Notices have been issued, and the matter will be reviewed in accordance with the law to decide whether the tax will apply.

27/01/2026

Federal Constitutional Court Dismisses All Appeals Against Super Tax — Government Expects Over Rs. 300 Billion in Revenue, Major Blow to Business Community
Islamabad: The Federal Constitutional Court on Tuesday dismissed all petitions filed against the imposition of Super Tax, thereby restoring Section 4B of the Income Tax Ordinance. After prolonged hearings, the court issued a short order, paving the way for an expected increase of over Rs. 300 billion in government revenue.
Super Tax was initially introduced in 2015 to support the rehabilitation of victims affected by terrorism in Khyber Pakhtunkhwa, imposing an additional 5% tax on individuals and entities earning annual profits exceeding Rs. 300 million. Later, in 2022, the threshold was reduced to Rs. 150 million, and the rate was increased to a maximum of 10%.
Prominent business leaders, banks, and corporate entities challenged the tax before various High Courts, primarily arguing retrospective application and double taxation. However, all High Courts upheld the constitutional validity of the Super Tax.
The case first reached the Supreme Court in 2019 and was subsequently transferred to the Constitutional Bench following the 26th Constitutional Amendment. After the 27th Constitutional Amendment, the newly established Federal Constitutional Court, after 17 hearings, announced its short order.
The bench comprised Chief Justice Amin-ud-Din Khan, Justice Hasan Rizvi, and Justice Irshad Hussain Shah. During proceedings, the Revenue Department was represented by Hafiz Ehsan Khokhar, while Commissioners Karachi and Lahore were represented by Dr. Shah Nawaz and Asma Hamid, respectively.
Following this ruling, the Super Tax will remain enforceable, strengthening the government’s legal authority and revenue base. However, the decision is expected to increase financial pressure on the business community.

16/01/2026

The consolidated Real Estate Investment Trust Regulations, 2022, including the amendments introduced recently vide SRO 2(I)/2026 dated January 1, 2026, have been uploaded on the SECP website. The amended regulations can be accessed at https://www.secp.gov.pk/document/real-estate-investment-trust-regulations-2022-updated-till-january-1-2026/?wpdmdl=63437&refresh=6968d004bce271768476676

Amendments to the REIT Regulations were earlier notified by the SECP, after an exhaustive stakeholder consultation process. The amendments were aimed at simplifying procedures; improving governance and control mechanisms; and encouraging greater transparency in operations of REIT Schemes.

The amended regulations:
• establish clearer timelines for transfer of real estate/shares of special purpose vehicles;
• promote early listing of REIT Schemes;
• strengthen roles & responsibilities of REIT Management Companies and trustee;
• address regulatory arbitrage across different REIT structures;
• enable better synchronization with the Shariah governance framework;
• streamline procedures for registration of trust deeds and approval for registration of REIT Schemes;
• refine the definition of real estate to clearly distinguish between its passive and active components; and
• introduce income and asset test requirements in line with international practices.

15/01/2026

📢 Regulatory Update: IFRS-9 Exemption for Circular Debt

SECP has issued a new notification (S.R.O. 25(I)/2026) providing significant relief regarding the accounting treatment of financial assets related to circular debt.

🔑 Key Highlights:
• The Exemption: Companies holding financial assets due from (or ultimately due from) the Government of Pakistan in respect of circular debt are exempt from the Expected Credit Losses (ECL) Method under IFRS-9.
• Extended Timeline: This exemption is applicable for financial years ending on or before December 31, 2026.
• The Alternative: During this period, companies must continue to follow the requirements of IAS 39 (Financial Instruments: Recognition and Measurement) for these specific assets.

💡 Why this matters:
This move is aimed at easing the financial reporting burden on companies heavily impacted by the energy sector's circular debt, preventing large, immediate hits to profitability that would otherwise be required under the more stringent IFRS-9 impairment model.

10/01/2026

📢 Greater Flexibility for Company Directors Elections!

SECP has issued Circular No. 1 of 2026, bringing a significant amendment to simplify corporate governance for companies across Pakistan.

To address practical challenges and facilitate smoother operations, the SECP has extended the timeline for holding the Election of Directors.

🔹 What’s Changed?
• The Extension: The previous 15-day window has been extended to 30 days.
• The Benefit: Companies can now hold the election of directors during their Annual General Meeting (AGM) if the election is due within 30 days after the AGM date.

This move is a welcome step toward improving the "Ease of Doing Business" by allowing companies to consolidate major corporate events and reduce administrative hurdles.

💡 Key Takeaway for Corporates:
Check your upcoming AGM schedule! If your director elections fall within the new 30-day window, you can now streamline your processes and handle both at once.

08/01/2026

The Federal Constitutional Court (FCC) was informed on Wednesday that Section 4C of the Income Tax Ordinance, 2001, is “completely illegal and unconstitutional” and does not meet the standards required for federal legislation.

Read More:

The Federal Constitutional Court (FCC) was informed on Wednesday that Section 4C of the Income Tax Ordinance, 2001, is “completely illegal and

02/01/2026

حکومت پنجاب کا قابل ستائش قدم!!!

بورڈ آ ف ریونیو کےلیٹر مورخہ 30 دسمبر 2025 کے مطابق ماسوائے انتقال وراثت کے زمین سے متعلقہ تمام تر انتقالات رجسٹرڈ وثیقہ جات کے بغیر درج اور منظور نہ ہوں گے۔ مطلب ریونیو آفیسرز یا ADLR اب صرف فریقین کے زبانی بیانات پر ڈائریکٹ انتقال منظور نہ کر سکیں گے۔

اس قدم سے جعل سازی کے خاتمے میں مدد ملے گی اور عدالتی مقدمات میں نمایاں کمی آئے گی۔