18 h. ago SBP’s new move to ease tax reporting for IT exporters and freelancers

The State Bank of Pakistan (SBP) has updated its foreign exchange income reporting format to better serve IT exporters, freelancers, and service providers. These changes apply to the electronic Proceed Realization Certificate (ePRC) and the Statement of PRCs (S-PRCs). The revised formats will become effective from October 1, 2025. The SBP said the new format […]

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8 d. ago Tax exemptions soar to record Rs5.8 trillion despite withdrawals: Economic survey 2025

ISLAMABAD – In a shocking revelation, the government reported a massive rise in tax exemption costs, reaching Rs5.8 trillion this year. This marks a record increase of Rs2 trillion in just the first year of the current government’s tenure. The data was released in the Economic Survey 2025, presented by Finance Minister Muhammad Aurangzeb. Surprisingly, […]

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9 d. ago Pakistan’s IT sector booms with record growth in exports and innovation

ISLAMABAD – Pakistan’s Information Technology (IT) sector has emerged as the fastest-growing part of the national economy, according to the National Economic Survey 2024–25 released on Monday. The report highlights impressive growth across exports, freelancing, and tech innovation. IT exports jumped by 23.7% during the fiscal year, reaching $2.825 billion. In March 2025 alone, exports […]

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2 w. ago Salaried class likely to get tax relief in budget after IMF approval

The International Monetary Fund (IMF) has reportedly agreed to provide income tax relief to the salaried class in the 2025-26 federal budget, it is learnt. The global lender has given “in-principle” approval to slash income tax rates across various salary brackets. The proposed relief is expected to cost the government between Rs56 billion and Rs60 […]

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2 w. ago Finance ministry releases economic outlook: Tax revenue and exports see strong growth

ISLAMABAD: The Finance Ministry of Pakistan has released its latest Economic Outlook Report, showing notable improvements in tax collection, exports, and inflation control. According to the report, the government collected 36.7% more tax revenue compared to the previous year, indicating a stronger grip on fiscal management. The report highlights a significant drop in inflation, which […]

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3 w. ago FBR’s strategic measures: 2.4 million new taxpayers and Rs1.73 billion collected

ISLAMABAD – The Federal Board of Revenue (FBR) has successfully registered 2,403,831 new taxpayers during the fiscal year 2024-25, filing 2,452,090 new tax returns and generating Rs1.73 billion in revenue, as reported to the National Assembly. This initiative is part of the government’s ongoing efforts to broaden the tax base and improve revenue collection. The […]

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