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FBR Demands Rs. 188.9 Million Tax from Sazgar

Carr.pk
Carr.pk
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FBR Demands Rs. 188.9 Million Tax from Sazgar - Carr.pk

The Federal Board of Revenue (FBR), through the Additional Commissioner Inland Revenue (ACIR), has raised a tax demand of Rs. 188,902,192 (188.9 million) against Sazgar for the Tax Year 2023, Sazgar reported in its Quarterly and Half-Yearly financial statements issued to the Pakistan Stock Exchange (PSX) on February 4.

The demand was created vide an order passed on September 30, 2025, under Section 122(5A) of the Income Tax Ordinance, 2001.

Following the receipt of the order, Sazgar has moved to challenge the demand. The company has filed an application for rectification under Section 221 of the Income Tax Ordinance, 2001, before the ACIR. Additionally, an appeal has been filed before the Commissioner of Inland Revenue (Appeals).

The company has stated that they expect a favorable outcome from both the rectification and the appeal. As a result, the company has not incorporated any provision for this amount in its financial statements.

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