Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial on Wednesday detailed a sweeping overhaul of the country’s tax compliance system, vowing to crack down on non-compliant sectors, expand digital monitoring, and address longstanding loopholes in the tobacco, retail and passive income tax regimes. Speaking to Geo News, Mr Langrial said that the government’s recent enforcement dri
The Pakistan Stock Exchange (PSX) has become a prominent symbol of economic stabilisation, reaching an all-time high and being recognised as one of the best-performing markets globally during the outgoing fiscal year. According to the Economic Survey 2024-25, released by Finance Minister Muhammad Aurangzeb on Monday, the equity market registered a significant growth of 50.2pc from 78,445 to 117
Facing limited room for fresh tax measures, the Shehbaz Sharif-led coalition government has resorted to rebranding taxation — shifting from “broadening the tax base” to pursuing “equity” — in an effort to justify higher taxes on lower-income segments. This transition comes as the government eyes a record revenue target of nearly Rs14 trillion for FY26, a 22 per cent increase over projections for t
Next year will be a turnaround story,” Finance Minister Muhammad Aurangzeb promised on Monday as he unveiled the Pakistan Economic Survey 2024-25 (PES) document, which highlighted widespread slippages across major sectors of the economy in the outgoing fiscal year. Reviewing the economy report card, the finance minister suggested that Pakistan’s performance should be evaluated in a global conte
Tax exemptions granted by the Federal Board of Revenue (FBR) surged to an all-time high of Rs5.84 trillion in the outgoing fiscal year, marking a 51 per cent increase from Rs3.879tr a year ago, according to the Pakistan Economic Survey 2024-25 unveiled by Finance Minister Muhammad Aurangzeb on Monday. The unprecedented rise in tax concessions comes at a time when the FBR is grappling with signi