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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

Ministry proposes steps for textile industry to compete with India, Bangladesh

ISLAMABAD: The Commerce Ministry has proposed various steps to enable textile industry to compete with textile industries of India and Bangladesh. The World Bank has placed both Bangladesh and India in the list of top 10 countries with highest textile exports in the fiscal year 2013 and these countries are posing serious challenge to Pakistani exports, especially the textile sector. ... Read More »

Collector Seema seeks report about Afghan Embassy’s ‘tampered’ land cruiser

ISLAMABAD: Customs Adjudication Collector Seema Raza Bukhari has ordered officials concerned to get a report regarding tampered land cruiser being used by Afghan Embassy in Islamabad. She has also ordered to send the vehicle to Afghanistan and get it verified in 30 days. Afghan Consulate General Third Secretary Abdul Nafay Raghbat had written application to the customs to issue duty-free ... Read More »

Rs 900 billion collection: FBR revenue grows by 14% in 5 months

ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs 900 billion during July-November (2014-15) against Rs789 billion in corresponding period of 2013-14, showing a growth of 14 percent. Gross revenue collection in 4 months showed that direct taxes collection was Rs329 billion in during July-November (2014-15) against Rs 266 billion in July-November 2013-14; sales tax Rs 440 billion against Rs ... Read More »

Rs772m tax evasion: Q-Mobile, dealers likely to get clean chit from Customs

KARACHI: The Collectorate of Customs Adjudication-I will conduct the hearing into the tax evasion case of Rs 772 million by a cellular company Q-Mobile and its authorized dealers M/s Digicom (Pvt) Limited and M/s New Allied Electronics today (Thursday). According to details, it would be a fifth hearing into the tax evasion case linked with the cellular company Q-Mobile and ... Read More »

5 Acres allotted for Model Customs Collectorate near Wazirabad: FBR

SIALKOT: The Punjab Board of Revenue has allotted as many as five acres of land for establishing a Model Customs Collectorate along the River Chenab Toll Plaza near Wazirabad. Now, the construction of proposed MCC would begin soon in this regard. According to the senior FBR officials, the federal government had finally approved a mega plan of establishing a Model Customs ... Read More »

Tax defaulters to be put on ECL

KARACHI: Names of the tax defaulters will be added to the Exit Control List (ECL) by the first week of December, a source at the Federal Board of Revenue (FBR) told Customs Today. The names will be finalised by the first week of the next month. Rs 160 billion is likely to be recovered from those whose names will be ... Read More »

FBR officers given Nov 30 deadline to declare assets

ISLAMABAD: Federal Board of Revenue (FBR) taking prompt action, ordered all its officers to submit the details of their assets by November 30, otherwise, there performance allowance would be stopped. Sources informed that FBR had warned the officers for the second time to submit their assets declaration of the fiscal year ended on June 30, as majority of officers did ... Read More »

Customs judge cancels bail in forex fraud case

LAHORE: Special Judge Customs cancelled interim bail of an accused in forex fraud through a fake E-Form. As per details, Tasaduq Hussain Malhi of Shahenshah Traders was booked in two cases for forex fraud. The accused exported two consignments worth $12192 and $34600, but allegedly avoided to bring the foreign exchange in the country. Earlier, customs authorities registered two first ... Read More »

Rs1.5 bln embezzlement: FIA nails ex-KMC director; another accused already nabbed

KARACHI: In its efforts to unfold the saga around Rs1.5 billion embezzlement, former Karachi Metropolitan Corporation (KMC) education director was nailed by the Federal Investigation Agency (FIA) who had secured a pre-arrest bail some days back. It is to be noted that the FIA had arrested former KMC budget director Nasir Mehmood Ishaque in the scam that also involved senior ... Read More »

Commerce Ministry fails to lure GCC into signing PTA, FTA

Kuwaiti premier vowed to support on FTA during his visit to Pakistan in November 2013     ISLAMABAD: The Commerce Ministry has failed to lure the Gulf Cooperation Council (GCC) into signing preferential trade agreement (PTA) and free trade agreement (FTA). A source in the ministry told Customs Today on Thursday that the ministry under the terms of Article-II of ... Read More »

FBR collects Rs180b in Oct with 17pc growth

ISLAMABAD: Federal Board of Revenue’s (FBR) gross revenue collection stood at Rs180 billion during the month of October this year against Rs156 billion it collected in October 2013, reflecting a growth of 17 per cent. The FBR has paid refunds/rebates of Rs8 billion during the month against Rs4 billion paid in last October. The Board has collected Rs750 billion during ... Read More »

Rs84m tax evasion: Collector Mujtaba imposes Rs2m penalty on Coca Cola

KARACHI: The Collector of Customs Adjudication-II Ahmed Mujtaba Memon has issued Order-in-Original (ONO) against M/s Coca Cola Export Corporation (Pvt) Limited in its alleged involvement in a huge tax evasion to the tune of Rs 84,754,838 in terms of Federal Excise Duty (FED) of Rs 66,379,784; Sales Tax of Rs 8,889,975 and Income Tax amounting to Rs 9,485,079 by declaring ... Read More »

Strong cement, Engro rally leads KSE gain 246 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index bounced back strongly on Wednesday and soared by 246.12 points to reach 29940.39 points with a volume of 110,960,050 shares as political tension soothe after the Pakistan Awami Tehreek (PAT) chief ended sit-ins in Islamabad after 67 days. Bullish trend in international markets, Wall Street and Tokyo stocks also helped traders gain confidence. ... Read More »

Tahirul Qadri calls it quits, traders cheer up after 2 months

ISLAMABAD: Pakistan Awami Tehreek (PAT) chief Tahirul Qadri has shelved his party’s more than two month old sit-in in the federal capital. Traders and businessmen especially in Islamabad have shown contentment on Tahirul Qadri’s decision as business activities in the twin cities would come to touch peak again. Pakistan Awami Tehreek (PAT) chief, Dr. Tahirul Qadri has announced to temporarily ... Read More »

Customs to auction seized goods in Hyderabad, Sukkur on Oct 24-25

KARACHI: An auction of confiscated vehicles and goods would be held at Model Customs Collectorate Hyderabad and Sukkur on October 24 and October 25 respectively. Goods to be auctioned at Customs State Warehouse Hyderabad are: 180 bags (12,770 kg) foreign-origin black tea, 43 bags (1,795 kg) foreign-origin black tea 40 bags (3,020 kg) foreign-origin black tea, 53 foreign-origin tyres, 199 ... Read More »

Proposed anti-corruption cell at FBR starts ‘war’ between honest and corrupt

ISLAMABAD: A cell to monitor life style of officers of the Federal Board of Revenue (FBR) and compare with their asset declarations is likely to be formed with the financial assistance of the World Bank (WB) and the British Department for International Development (DFID). The objective of the cell is to trace out corruption by comparing life style of officers ... Read More »

Twitter, YouTube, Facebook to provide data on ISIS to UK government

  LONDON: The UK government is going to ask social networking sites including Twitter, YouTube and Facebook to hand over more information about extremists posting propaganda online. The Downing Street policy chiefs and CEO of major social networking sites will meet to discuss the procedures to hand over a range of data including IP addresses, emails and names about individuals ... Read More »

Appraisement-East installs CCTVs to monitor activities at collectorate

  KARACHI: The Model Customs Collectorate (MCC) of Appraisement-East has installed a new vigilance system to monitor the activities at collectorate. The new system will allow Collector Najeeb to monitor the workings at his collectorate on the wide screens installed at his office. The vigilance system was installed last week, comprising a total of 16 Close Circuit TV (CCTV) cameras ... Read More »

FBR orders special audit of 3,475 ‘tax evader’ industrial units

SIALKOT: The Federal Board of Revenue (FBR) has ordered special audit of as many as 3,475 industrial units located in Sialkot, Narowal and Gujrat districts for allegedly evading taxes and concealing facts. The FBR has formulated 11 special teams which have started the pre-audit process in this regard. According to FBR officials, there were 86 corporate class and 3,389 non-corporate ... Read More »

Closing: KSE takes mammoth jump of 235 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index opened with positive sentiments on first day of trading, Monday, to balance the slow trading of after Eid days, gained 235.78 points to reach 30394.41 points and volume of 123,546,050 shares. Earlier, KSE started the trading week on Monday with positive note and gained 94.50 points to stand at 30253.13 at 10:30am. In ... Read More »