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Illustrations

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

Stealing NATO containers: M/s Water Link served final notice

KARACHI: The Collectorate of Customs Adjudication-I has issued final hearing notice to M/s Water Link for presenting its view point before the competent authorities of Pakistan Customs-FBR in smuggling case of NATO/ISAF retrograde containers. The sources informed Customs Today that the Collectorate of Customs Adjudication-I has fixed August 25, 2014 the final date for hearing the case of M/s Water ... Read More »

Customs seizes Q-Mobile handsets for Rs 770m tax evasion

MULTAN: First time in the history of Model Customs Collectorate Multan, Collector Sarfraz Warraich and his team detected the largest tax evasion of Rs 770 million by Q-Mobile company, the biggest seller of handsets imported from China. Multan Customs Anti-Smuggling Organisation (ASO) detained handsets of Q-mobile on July 11, 2014 which were being transported from Karachi to Multan through Business ... Read More »

Customs appraisement-West arranges seating for visitors

KARACHI: The Model Customs Collectorate (MCC) of Appraisement (West) taking the grievances and issues of traders’ community, importers and Customs agents into considerations has arranged proper seating arrangements in assessment halls and outside the offices of deputy collectors and assistant collectors for importers and Customs agents who turn up there for hearing of their cases. The MCC-Appraisement (West) keeping the ... Read More »

Azadi, Inqilab marches cause colossal loss to economy

ISLAMABAD: The uncertainty and turmoil caused by the Azadi and Inqilab marches of Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) have adversely affected the economic activities and have caused colossal losses to the industry to the tune of billions of rupees. The prevailing political impasses has also shaken confidence of the foreign investors and brought the import/exports activities to ... Read More »

Long marches inflict Rs 300b loss on national economy: Dastgir

ISLAMABAD: While terming long march as economical murder of the country, the Commerce Minister has said that ongoing long marches have inflicted a loss of at least Rs 300 billion to national economy. “Both the domestic and foreign investors are reluctant to invest in the country under the threat of marchers,” stated the Minister here. Engr. Khurram Dastgir said that long ... Read More »

Rs4,145m tax evasion: Show-cause issued against Shaheen Air Int’l

KARACHI: A show-cause notice against M/s Shaheen Air International Limited for its involvement in huge tax evasion of Rs4,145 million has been issued by the Office of the Collector, Collectorate of Customs Adjudication-I. According to the details, the charges were leveled against M/s Shaheen Air International Limited that it was involved in huge duty/tax evasion of Rs 4,145 million by ... Read More »

Survey begins in Punjab to collect luxury tax

SIALKOT: The Excise and Taxation Department has started survey to assess the new value of the public properties in Gujranwala Division’s all six districts including Sialkot, Narowal, Gujrat, Mandi Bahauddin, Hafizabad and Gujranwala to ensure the early collection of the recently levied luxury tax on big properties including big houses by the Punjab government. According to the senior E&T officials, ... Read More »

FBR exceeds revenue target by Rs 1 billion in July

ISLAMABAD: The committed work of field formation officers under new acting Chairman helped the Federal Board of Revenue (FBR) in exceeding the revenue collection target in July 2014 by one billion rupees as it collected Rs 138 billion during the month of July against Rs 137 billion target. Acting Chairman of FBR Shahid Hussain Asad while talking to Customs Today ... Read More »

TCS smuggling scandal: Court extends bail of Hamdani, Shakirullah

ISLAMABAD: Customs court has extended anticipatory bail granted to TCS Chief Executive Saqib Hamdani and Smart Zone Company’s owner Shakirullah till August 6th. Both were accused of allegedly involved in smuggling of contrabands undercover of Afghan transit trade. On the other hand, Customs Intelligence Deputy Director Shahid Jan has decided to broadened investigation circle to other workers of The Courier ... Read More »

GSP status boosts textile exports to $13.74b

ISLAMABAD – Textile exports surged to $13.74 billion during previous financial year 2013-2014 mainly because of the GSP Plus status granted to Pakistan by the European Union (EU). The country exported textile made commodities worth $13.74 billion during last fiscal year (July 2013 to June 2014) as compared to $13.05 billion of the preceding year (July 2012 to June 2013), ... Read More »

Tahirul Qadri tax evasion: FBR to unfold investigations soon

ISLAMABAD: Federal Board of Revenue reportedly completed investigations into Pakistan Awami Tehrik (PAT) chairman Dr Tahirul Qadri’s Rs 770 million tax evasion and decision will soon be publicized. As per details, FBR has issued orders of a legal proceeding against PAT chairman Dr Tahirul Qadri and his organization after completing investigations of tax evasion. FBR source told Customs Today that ... Read More »

KSE hits all-time high of 30413.23 points

Karachi Stock Exchange (KSE) closed at 30413.23 all time high amid higher trades after SBP mentioned improving economic conditions. KSE 100 index end the day at 30413.23 points compared to 30224.89 points of the last working day on Friday. Moreover, with an immense increase of Rs 42 billion, total capital of market cross Rs 7.100 trillion, and trade share was ... Read More »

Govt decides to appoint Tariq Bajwa as Finance Secretary

ISLAMABAD: The government has decided to appoint FBR Chairman Tariq Bajwa as Finance Secretary, sources told Customs Today. Sources said that Tariq Bajwa will replace incumbent Finance Secretary Waqar Masood in the middle of August. Seat of FBR Chairman will be vacant after posting of Tariq Bajwa to the office of Finance Secretary. The federal government has also started mulling ... Read More »

TCS finds scapegoat for smuggling scandal

ISLAMABAD: The Courier Service (TCS) administration dismissed its Chief Executive Saqib Hamdani and Islamabad Regional Manager Logistics Ghazanfar Gul amid the recent smuggling scandal. As per details, TCS has fired Saqib Hamdani and Ghazanfar Gul from their posts putting all responsibility of smuggling goods upon their shoulder. Earlier, it was reported that TCS with collaboration of Smart Zone Company had ... Read More »

FBR takes back notices issued to Misbah, Hafiz, Akmal, Azhar

LAHORE: FBR has taken back notices issued to national cricket players including Captain Misbah-ul Haq as an outcome of their meeting with Finance Minister Ishaq Dar recently. As per details, FBR issued notices to cricket players due to non-payment of their taxes but after fruitful meeting with Finance Minister Ishaq Dar, the Board decided to reverse the notices of cricketers ... Read More »

FBR achieves its revenue collection target

ISLAMABAD: After tough struggle throughout the year, Federal Board of Revenue has reportedly achieved its revenue collection target for the fiscal year 2013-14. Finance Minister Ishaq Dar has congratulated FBR Chairman Tariq Bajwa and Members of the Board for achieving the target. After compilation of the latest data aggregate tax collection figures have so far come up to be Rs ... Read More »

FBR to collect Rs160b in one week

ISLAMABAD: Federal Board of Revenue has collected net taxes of Rs 2,217 billion until June 23. Rs 101 billion refunds and rebates are included in the sum. This takes the net revenue figures reach a total of Rs 2,116 billion. FBR has yet to collect Rs 159 billion in remaining one week of the current fiscal year ending on June ... Read More »

FBR directs all regional offices to take stern safety measures

ISLAMABAD: Owing to the current security concerns, Federal Board of Revenue on the directives of Chairman Tariq Bajwa has directed all offices including Regional Tax Offices, Large Taxpayers Units, Customs Houses and Dry ports to take strict measures for ensuring safety of the offices. Entry of visitors into FBR Headquarters in Islamabad has been restricted to a particular limit. Rules ... Read More »

An uphill target

In the wake of fixation of highly challenging tax collection target of Rs 2810 billion in fiscal year 2014-15, the FBR has been assigned to collect Rs 1180 billion in shape of Direct Taxes and Rs 1630 billion as Indirect Taxes in order to touch the desired collection figure. Out of indirect taxes of Rs 1630 billion, the FBR has ... Read More »

Recovery of taxes: 164 ‘big fishes’ served final notices

SIALKOT: The Federal Board of Revenue (FBR) has issued final notices to as many as 164 big exporters-turned- chronic defaulters, warning to clear their outstanding dues within 10 days otherwise their bank accounts will be frozen. It has been learnt that the FBR has decided to freeze the bank accounts of the defaulters if they fail to clear their dues ... Read More »