Pakistan, June 12 -- The federal budget for fiscal year 2025-26 has proposed a significant expansion of the Federal Board of Revenue (FBR) powers, including introducing strict enforcement measures aimed at tightening the tax regime and curbing financial irregularities.
According to official sources, the FBR has been granted powers akin to those of a station house officer (SHO), enabling it to conduct inspections of chartered accountancy and audit firms involved in preparing income tax returns if discrepancies are suspected in taxpayers' declarations.
This will give FBR officers the ability to directly oversee these firms to ensure compliance with tax laws.
Those intending to purchase vehicles or immovable property will be required to pro...