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Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Importers in the line of fire: PA, Appraiser hamper assessment process at Port Qasim

KARACHI: The importers and their representatives are now in the line of fire during the process of assessment by the Customs authorities especially Principal Appraiser Tariq Aziz and Appraiser Zubair at MCC-Port Qasim. The importers informed Customs Today that the corruption is rampant at Model Customs Collectorate (MCC) Port Qasim in the process of assessment. According to confirmed information given by some ... Read More »

Proposals for upcoming 7th IMF review, ADB meeting finalised

ISLAMABAD: Besides the budget making process, the Finance Ministry has also finalised the briefs of proposals for upcoming negotiations with prestigious international financial institutions. Two mega events of international importance are going to be held in the first week of next month. International Monetary Fund would start 7th Review of programme for Pakistan in the first week of May in ... Read More »

Excise seals 164 buildings in Rawalpindi over non-payment of property tax

RAWALPINDI: The Excise and Taxation Department has sealed 164 commercial and residential properties during the last two days over non-payment of property tax. According to a spokesman for the Excise and Taxation Department, the city has been divided into four sectors and special squads comprising 23 inspectors under the supervision of Excise and Taxation Officer (ETO) Riaz Qureshi are conducting ... Read More »

Legal, departmental action will be taken against corrupt officials: FBR

ISLAMABAD: Federal Board of Revenue (FBR) spokesperson Shahid Asad has said that the bureau will not terminate a specific number of people through any programme, but officials involved in corruption will not be spared at any cost. Talking exclusively to Customs Today, Shahid said that officers involved in corruption will have to face consequences under the legal and departmental rules. ... Read More »

Internal Audit-Customs finalises report of gold scam worth Rs 250-300b, vows to make it public

KARACHI: The Directorate General of Internal Audit-Customs has finalized its report on gold smuggling scam. The sources informed Customs Today that the authorities concerned of Internal Audit-Customs have prepared a comprehensive report of massive gold scam amounting to Rs 250-300 billion. The sources further informed that the authorities concerned of Internal Audit-Customs have informed the high authorities of Federal Board ... Read More »

Customs Internal Audit awaits response on Rs 640m audit paras sent to field formation collectorates

KARACHI: The Directorate General of Internal Audit-Customs has detected and sent audit paras amounting to Rs 240 million – in addition to audit paras amounting to Rs 400 million already sent – in connection with the short revenue collection in terms of Free Trade Agreement (FTA) and Preferential Trade Agreement (PTA) certificate issuance by the field formation collectorates. Sources confirmed ... Read More »

ANF seizes heroin worth Rs 15m, arrests two drug smugglers

LAHORE: The Anti-Narcotics Force (ANF) claimed to have arrested two accused at the Allama Iqbal International Airport for attempting to smuggle a huge quantity of heroin to Uganda. According to an ANF official, accused Muhammad Islam and Nazim Ali were checked at the airport by ANF officials. During checking of their luggage, ANF found 1.5kg heroin hidden in boxes of betel nut (chalia). ... Read More »

FBR decides to bring “professionals” into tax net

KARACHI: The Federal Board of Revenue (FBR) has decided to bring “professionals” into tax net and punitive measures are being taken by the board in this regard. Well informed sources told Customs Today that the FBR concerned authorities are making plans to extend the tax net by bringing professionals including doctors, educationists, lawyers, engineers and others into tax net. They ... Read More »

WHT zone of RTO-II achieves 98% revenue target in 7 months

LAHORE: The withholding tax (WHT) zone of the Regional Tax Office-II (RTO-II) has achieved 98 percent of its target during the first seven months (July-January) of the current fiscal year 2014-15. Sources told Customs Today that the revenue target for the withholding tax zone was assigned by the RTO authorities rather than the FBR Headquarters. They said that the authorities ... Read More »

Lahore: Collector Preventive Mukarram to take additional charge of Appraisement

LAHORE: Collector Customs Lahore Preventive Mukarram Jah Ansari has been given additional charge of Collector Customs Lahore Appraisement. Sources told Customs Today that Collector Customs Preventive is given additional charge of MCC Appraisement as the Collector Customs Appraisement Muhammad Zahid Khokhar has gone on 40-day leave to perform religious obligations. The Additional Collector Customs Appraisement Mr.Irfan Wahid will be looking ... Read More »

Adjudication asks Customs Preventive to contact SHC to persue Shaheen Air International tax evasion case

KARACHI: The Collectorate of Customs Adjudication-I has asked the authorities concerned of Model Customs Collectorate MCC Preventive to contact Sindh High Court (SHC) in connection with the stay order taken by the Shaheen Air International (SAI) in tax evasion case amounting to Rs41,450 million in which the airline dismantled around 447arircratfs without the prior permission of Pakistan Customs. The sources ... Read More »

Pakistan imports from India stand at Rs 2.12 billion until first half of Feb

LAHORE: Pakistan has imported items worth Rs 2.12 billion during the first half of February 2015 from India via Wagah Border, while total tax was collected Rs 241.7 million during the said period. As per detail, Pakistan imported tomatoes, garlic, polyethylene, ginger, cotton yarn, machinery etc from India during first half of February 2015. Pakistan imported 6290,394 kilo gram (Kg) ... Read More »

Bajwa urges field formation collectorates to stop tax evasion, under-invoicing, miss-declaration

KARACHI: The Chairman Federal Board of Revenue (FBR) Tariq Bajwa and Member Customs Nisar Muhammad Ali Khan on Tuesday visited the Custom House Karachi. Both the high officials of the FBR held meetings with the customs officers of the South Region, including Sindh and Balochistan provinces at 5th floor of the Custom House. The meetings were attended by the Chief ... Read More »

Multan: Customs detects tax evasion of Rs 25.9m by Reliance Commodities

MULTAN: Model Customs Collectorate MCC Multan has detected special federal excise tax evasion of worth Rs 25.9 million against Reliance Commodities Mills (Private) Limited during the audit of customs. Reliance Commodities (Private) Limited is a leading commercial exporter and importer of different commodities specially sugar and fertilizers. Reliance exported sugar cane molasses under PCT Heading 1703 1000 without payment of ... Read More »

RTO recovers Rs110m in GMSA sales tax fraud case

FAISALABAD: The Regional Tax Office (RTO) Faisalabad has recovered huge amount of Rs 110 million in a mega sales tax fraud case and expanded the scope of investigation against the entire supply chain to arrest all those involved in the scam. Sources told Customs Today that it is a unique as well as historical case of Pakistan, where a huge ... Read More »

Customs seizes mobiles, iPads worth Rs20m from TCS van

KARACHI: Directorate of Customs Intelligence and Investigation Karachi in a successful operation has recovered huge quantity of electronic gadgets including iPads, mobile phones and memory cards worth Rs. 20 million. According to details team of Customs Intelligence Karachi, on information stopped a TCS Delivery Van No. KM-0852 near Shahrah-e-Faisal. Search of van showed hundreds of mobile phones, i-pads and huge ... Read More »

Excise issues final notices for payment of luxury tax to 97 building owners

SIALKOT: Recovery of luxury tax has become a big challenge for the Excise and Taxation Department in Gujranwala Region. According to the details, Excise and Taxation department had identified as many as 97 luxury buildings as taxable, out of which 19 buildings are in Sialkot district, 64 in Gujranwala and two buildings are in Mandi Bahaud Din district, which come ... Read More »

FBR relocates 39 BS 17-21 Customs officers

LAHORE: Federal Board of Revenue has relocated 39 officers of Pakistan Customs BS 17-21 here on other day with immediate effect. According to the notification issued by the Federal Board of Revenue,  Tariq Ahad Nawaz (Pakistan Customs Service/BS-21), Director General Directorate General of Reforms and Automation (Customs) Islamabad has been transferred and posted as Director General IPR (Enforcement) Islamabad; Sarwat ... Read More »

Lahore: Excise dept seizes 153 vehicles for non-payment of token tax

LAHORE: The Excise and Taxation Department is active against token tax defaulters and unregistered vehicles across the country. The department has seized 153 defaulter vehicles in Qasur districts. According to Excise and taxation Officer Muhammad Arshad Chahal, the excise teams checked more than 1300 vehicles. The action was especially taken against those that failed to pay token tax. Excise recovered ... Read More »

FBR revises revenue target by Rs 135 billion for FY 2014-15

LAHORE: Federal Board of Revenue revised the revenue target for current fiscal year 2014-15 as the department is facing shortfall in revenue collection. Sources informed Customs Today that FBR has decreased the revenue target by almost Rs 135 billion for current fiscal year. Sources said Rs 2810 billion was set as target for the continuous fiscal year which was Rs ... Read More »