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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

Directorate of Reforms & Automation holds training session for students

KARACHI: Directorate of Reforms and Automation of Pakistan Customs has organised a training session for the students of Bahria University, MBA Executive Programme at Customs House, Karachi. Addressing the participants, Project Director Reforms and Automation, Syed Tanvir Ahmad emphasized that the WeBOC training shall be made a part of the curriculum of MBA degree programme. On the occasion, Project Director ... Read More »

Desk audit of corporate sector: FBR chief wants process completion by 28th

ISLAMABAD: With a view to boosting revenue collection from corporate sector, Federal Board of Revenue (FBR) Chairman Tariq Bajwa directed completion of desk audit of corporate sector by February 28. As per details, the FBR chairman, during his recent visit to large taxpayers unit (LTU) Karachi not only inspected the performance of the LTU but also took some decisions to ... Read More »

FBR shows record 26pc growth in January revenue collection

ISLAMABAD: The Federal Board of Revenue showed a record revenue growth of 26 percent in January 2014 by collecting Rs168bn against Rs132bn collected in January 2013. The Board collected Rs1,199 billion during the first seven months (July-Jan) of this fiscal year against the projected target of Rs1,268bn, recording a shortfall of Rs69bn. The revenue collection remained Rs1,020b in the same ... Read More »

Higher tax revenue to overcome economic crunch

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Sharing of information dominates a significant place in Customs: Virk

LAHORE: Sharing of information dominates a significant place in customs and Pakistan Customs has been endeavouring to respond rather to reach out to the trade and industry and all other stakeholders for addressing their issues and taking proper steps. This was stated by central region’s Chief Collector of Customs Lutfullah Virk on the occasion of flag hoisting ceremony on the ... Read More »

Promotion of tax culture need of the hour: Shahid Hussain

SIALKOT: Federal Board of Revenue’s official spokesperson Shahid Hussain Asad has said that it is dire need of the hour to promote ‘Tax Culture’ in the country to overcome financial issues. In an official statement he has said, “The business community and people in general should pay their due taxes according to their income for strengthening the country economically. If ... Read More »

Bajwa requested by US embassy to brief on revenue matters

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has been requested by the United States embassy to brief the embassy officials on the 2013-14 revenue collection position besides other development and revenue-related matters. US embassy has written a letter to FBR Chairman in this regard. According to the sources, the Economic Section of the Embassy of the United States of ... Read More »

MCC-Appraisement (East) detects 266 cases of tax evasion

KARACHI: The Research & Development (R&D) section and Examination department of the Model Customs Collectorate (MCC) of Appraisement (East) has detected 266 cases of mis-declaration, tax evasion and under-invoicing altogether during first and second quarter of the Fiscal Year 2013-14 and recovered an amount of Rs 168.45 million till December 31. According to details, R&D section of MCC-Appraisement (East) has ... Read More »

Lawmakers to get NTNs by 31st: Dar

ISLAMABAD: Federal Minister for Finance Senator Ishaq Dar vehemently dispelled the impression that the parliamentarians did not pay taxes, saying that Federal Board of Revenue had been directed to ensure issuance of National Tax Numbers (NTNs) to parliamentarians by January 31. Speaking in Senate, Ishaq Dar declared income tax was regularly being deducted from the salaries of all parliamentarians be ... Read More »

Carrying forex: NTN likely to be made mandatory

ISLAMABAD: The National Tax Number (NTN) is likely to be declared mandatory for carrying foreign exchange during foreign tours in a bid to discourage money laundering and flight of foreign exchange. It is to be noted that Section 4 of Protect of Economic Reforms Act, 1992 and State Bank of Pakistan (SBP) rules allow all citizens to carry up to ... Read More »

FBR collects Rs1020b in 6 months; shortfall remains Rs80-85b

ISLAMABAD: Federal Board of Revenue has recorded a huge revenue shortfall of Rs80-85 billion in the first two quarters of the current fiscal year 2013-14. FBR has collected Rs1,020 billion against the set target of Rs1,100 billion. FBR Official Spokesman Shahid Hussain Asad said that the tax collection recorded a growth of 17 percent over the same period of the ... Read More »

Goods transporters threaten strike over non-redressal of grievances

KARACHI: Goods transporters have threatened to stage a nationwide strike once again after the government failed to redress their grievances. Leaders of the United Goods Transporters Alliance (UGTA) have asked Finance Minister Ishaq Dar to instantly issue directives to the official committee to resolve transporters’ issues. In a meeting, UGTA Chairman Ghulam Yaseen Khan expressed his disappointment over lack of ... Read More »

FBR for induction of ATT modules in WeBOC

KARACHI: Federal Board of Revenue (FBR) has directed the officials concerned in the Directorate of Reforms and Automation to induct Afghan Transit Trade (ATT) modules in WeBOC, computerised system. Reliable sources told Customs Today that a meeting headed by Project Director, WeBOC was held in the Directorate of Reforms and Automation in Customs House on Monday in this regard. “In ... Read More »

FBR starts crackdown against tax defaulters

ISLAMABAD: FBR, in a rare move, has started crackdown against 30 big tax defaulters of steel sector in Lahore and has registered six FIRs so far. The steel sector in the country is ruled under the Sales Tax Special Procedure Rules, 2007 which provides two regimes for payment of sales tax by the steel melters and re-rollers. As per calculation, ... Read More »

Gwadar Customs seizes smuggled Iranian diesel, oil

GWADAR: Model Customs Collectorate Gwadar has seized 41,000 litres of smuggled Iranian diesel during the ongoing month. Sources said that the MCC Gwadar officials have also seized an oil tanker loaded with Iranian diesel bearing registration No TUA-077 recently in its ongoing anti-smuggling operation. The market value of the seized diesel and the tanker is estimated at approximately Rs6.5 million. ... Read More »

Dastgir given portfolio of Commerce Minister

ISLAMABAD: Prime Minister Nawaz Sharif has changed the portfolio of Minister of State Khurram Dastagir Khan by taking away the portfolio of Privatisation from him. According to a notification, Dastagir has been appointed Minister of State for Commerce and Textiles. The portfolio of Privatisation is now vacant. In addition to his current portfolio, Dastagir also heads the National Assembly’s Standing ... Read More »

No room for corrupt officers in FBR: Bajwa

KARACHI: Federal Board of Revenue (FBR) Chairman Tariq Bajwa has warned the Customs officials that there is ‘no room’ for the corrupt officials in FBR. FBR Chairman said this while discussing different matters pertaining to revenue generation, target achievements and missing containers with the high officials during the visit to Customs House, Karachi. Tariq Bajwa asked the officials concerned to ... Read More »

Chief Collectors, Collectors asked to submit arms and ammunition data

ISLAMABAD: The Federal Board of Revenue (FBR) has issued instructions to all Chief Collectors and Collectors of Customs to submit arms and ammunition data stored in the customs warehouses along with seized weapons to collect authentic information on national level. According to the instructions to the field formations, Chief Collectors and Collectors of Customs should immediately apprise the board about ... Read More »

Purchasing apartments in Dubai: FBR seeks to collect buyers’ information

ISLAMABAD: Federal Board of Revenue (FBR) has made an attempt to collect particulars of Pakistanis, who have shown interest in buying properties and luxurious apartments in Dubai, as recently seminars were organised in Karachi and Lahore by international marketing companies to lure the local investors. It has been reliably learnt that foreign property companies from Dubai held seminars in Karachi ... Read More »

FBR sees no increase in smuggling of foreign currencies

ISLAMABAD: Federal Board of Revenue (FBR) Customs Intelligence Department has reported no significant increase in smuggling of foreign currencies during the last few weeks. Sources said that it is almost impossible to smuggle foreign currencies in big quantity owing to concurrent checking and monitoring by the customs staff and other agencies at airports. The FBR intelligence unit takes action against ... Read More »