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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

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 »

Closing: Bulls retake charge at KSE with 343 points gain

KARACHI: Tuesday proved to be a good day for Karachi Stock Exchange (KSE) 100-index as the major Stock market of the country gained 343.26 points to reach 29726.39 points and volume of 60,392,610 shares. Earlier, the market opened at the overnight closing of 29,383 points and showed resilience to offset the bearish trend. The investors remained cautious and vigilant in view ... Read More »

Importers face losses due to mismanagement at ports

KARACHI: The traders and importers have expressed concerns over filing of Import General Manifest (IGMs) by Shipping Lines and Port authorities, as the importers were paying hefty amount in form of demurrage and detention to the shipping lines due to alleged inefficiency of the authorities concerned. The importers were of the view that the shipping lines were not filing proper ... Read More »

China Customs to enhance efforts against infringement through mail

BEIJING: China Customs in a notice has said that they were trying to intensify efforts against the infringement activities carried out through using the express mail service. The Customs Intellectual Property Rights enforcement has set the target to end the infringement in the latter half of the year 2014. As per details, administration of Customs has issued a notice a ... Read More »

FBR fails in issuing tax cards

ISLAMABAD: The Federal Board of Revenue (FBR) has failed in meeting the deadline of September 15 for the issuance of 0.850 million tax cards to tax payers. The tax cards were scheduled to be provided at the doorsteps of those taxpayers by mid-September who had filed their tax returns by 2013 and tax cards will have validity up to March, ... Read More »

PM, cabinet assure support to Bajwa on tax collections

ISLAMABAD: The Prime Minister Muhammad Nawaz Sharif instructed Federal Board of Revenue (FBR) Chairman Tariq Bajwa to start crackdown on tax evaders without any discrimination. He also told FBR chairman to broaden the tax net without taking any political pressure. As per details, FBR Chairman Tariq Bajwa has briefed the PM Nawaz and cabinet in a federal cabinet meeting on ... Read More »

TCS, Smart Zone multi-billion smuggling case hearing put off

ISLAMABAD: A special court headed by Customs Taxation and Anti-Smuggling Customs Judge Muhammad Ahmad Farooqi has postponed the hearing of the TCS and Smart Zone Company smuggling case as lawyers of the accused did not appear in the court. As per details, TCS former CEO Saqib Hamdani, Manager Logistics Ghazanfar Gul and Smart Zone Company Owner Shakirullah asked the court ... Read More »

Misusing DTRE: FBR plans crackdown on importers, exporters

KARACHI: The Directorate of Internal Audit of Pakistan Customs on the directives of Federal Board of Revenue (FBR) has started the audit of Duty Taxes Remission on Export (DTRE) and examination sector for the year 2013-14. According to details, the FBR authorities have asked the directorate of internal audit to finalize its audit report this week and submit it to ... Read More »

Imran, Qadri sit-ins: Ministry seeks funds to compensate containers’ owners

ISLAMABAD: The Federal government has started sending import/export containers back to ports as the owners have been demanding millions of rupee rent and compensations for their stolen and damaged containers. As per details, Islamabad administration has removed the containers used to block the roads in Red Zone Diplomatic Enclaves and deployed federal police force in place of containers. The owners ... Read More »