ISLAMABAD: The Federal Board of Revenue extended the deadline for filing income tax returns for the 2025 tax year by 15 days on Tuesday, reversing a stance it took just hours earlier and granting relief to taxpayers amid mounting complaints.
Macro
ADB sees Pakistan growth holding at 3 percent in FY2026 on reforms, but floods pose risks
ISLAMABAD: Pakistan’s economy is set to expand by 3.0% in the fiscal year to June 2026, helped along by deeper macroeconomic stability and reforms that tackle longstanding weaknesses, the Asian Development Bank said on Tuesday, though recent floods could crimp the momentum.
Pakistan sees September inflation holding at 3.5–4.5 percent despite flood disruptions
ISLAMABAD: Pakistan’s economy has maintained stability and shown signs of growth in the first two months of the fiscal year despite severe flooding, with consumer inflation projected to remain in a manageable 3.5-4.5% range in September, the finance ministry said on Tuesday.
Pakistan, IMF open talks on $7 bln bailout review amid revenue shortfalls, flood impact
ISLAMABAD: Pakistan and the International Monetary Fund began talks on Monday for the second review of a $7 billion Extended Fund Facility programme and the first review of a $1.1 billion Resilience and Sustainability Facility, with discussions focusing on mixed fiscal performance, revenue shortfalls and the impact of recent floods.
FBR urges taxpayers to meet Sept 30 return deadline, rejects flood-linked speculation
ISLAMABAD: The Federal Board of Revenue said on Monday there would be no extension of the September 30 deadline for filing income tax returns for the 2025 tax year, dismissing media reports that had linked any such move to the devastation wrought by recent floods.
Preliminary estimates see GDP growth at 3.9 percent after flood losses
ISLAMABAD: Pakistan has lowered its annual gross domestic product growth forecast to 3.9 percent from 4.2 percent after devastating monsoon floods caused $1.3 billion (Rs371 billion) in damage, a preliminary government assessment shows.
FBR scraps asset valuation rule in tax form after backlash
ISLAMABAD: The government on Friday abruptly scrapped a requirement for taxpayers to declare the market value of their assets in the 2025 income tax return form, bowing to intense pressure from tax practitioners, lawyers, and other stakeholders.
Pakistan targets Rs6.4 trillion in borrowing to manage Rs81.5 trillion debt load
ISLAMABAD: The government unveiled a Rs6.4 trillion borrowing plan for the current fiscal year to service a public debt that ballooned to Rs81.5 trillion by June 30, as an International Monetary Fund mission assesses the nation’s fiscal and monetary performance.
Pakistan secures power sector financing, but dollar-linked debt looms large
ISLAMABAD: The power sector secured a lifeline with Rs1.225 trillion in fresh financing from commercial banks to tackle its chronic circular debt, but the industry remains tethered to exchange rate risks for nearly a decade due to dollar-indexed investments, particularly those tied to Chinese power projects, power minister said.
FBR eases asset valuation rules for 2025 tax filing ahead of deadline
ISLAMABAD: The tax authority moved to clarify asset valuation rules for the 2025 tax season, allowing most taxpayers to self-declare the market value of their movable and immovable assets without formal appraisals or documentation.