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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

Customs rulings made available on FBR website: Shabbar Zaidi

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Ali Zaidi took to social media today and said that the department’s rulings for customs were to be made available on the website. The chairman added that the step was being taken to promote and elevate the ease of doing business initiative alongside making the entire process more transparent. The tweet ... Read More »

Pakistan, Africa could take benefit of BRI: Abdul Razak Dawood

ISLAMABAD: Adviser to Prime Minister for Commerce and Investment Abdul Razak Dawood said on Thursday that Pakistan and African countries could take benefit of Belt and Road Initiative (BRI). Addressing  envoys conference titled “Engage Africa” Abdul Razak Dawood said that Pakistan could export rice, engineering, foods, electronic equipment, pharmaceutical products, sports items, surgical instruments and cutlery to African states. He ... Read More »

AEO program will boost national exports: FBR chairman

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi and Member Customs (Policy) Javed Ghani presided over a meeting to highlight Authorized Economic Operators (AEO). The program has been finalized according to international practices and WCO security standards. The meeting was attended by representatives of all government departments and border agencies who were taken on board on the said Program ... Read More »

Remittances expected to reach $3b by end of next year

ISLAMABAD: Pakistan is witnessing unprecedented inflow of foreign investment in its debt instruments with the latest figures showing the number has crossed $1 billion and analysts at Topline Securities expecting inflows to reach a record $3 billion by the end of the current fiscal year in June 2020. Benchmark interest rates have stood at 13.25 per cent since the last ... Read More »

FBR to bring SMEs into tax net through documentation drive: Shabbar Zaidi

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi said the small and medium enterprises (SMEs), unwilling to become a part of tax system, would be brought into the net through the recently launched documentation drive. While addressing Innovative Finance Forum organized by Asian Development Bank (ADB) and Gates and Malinda Foundation he said “the future of those is shining ... Read More »

ECC approves to refund sales tax, technical supplementary grant worth Rs30b

ISLAMABAD:  The Economic Coordination Committee (ECC) has approved to refund sales tax and technical supplementary grant to the tune of 30 billion rupees. The approval was granted in ECC meeting held with Finance Adviser Dr Abdul Hafeez Shaikh in the chair. The meeting approved amendments in eighteen laws and 25 legal procedures with the aim to simplify and facilitate investments ... Read More »

Pakistan’s tax revenues could reach $82.4b in nine years: World Bank

ISLAMABAD:M The World Bank (WB) has projected that Pakistan’s tax revenues, even without any intervention, could reach $82.4 billion (Rs12,788 billion) over the next nine years. With intervention in the shape of taxation measures under the $400 million Pakistan Raises Revenues programme, the country’s revenues, the bank predicts, can increase up to $96.6 billion (Rs14,992 billion). On the issue of ... Read More »

SBP Governor shares developments in financial inclusion with Queen Maxima

ISLAMABAD: State Bank of Pakistan (SBP) Governor Dr Reza Baqir shared developments in financial inclusion and roadmap with special focus on gender mainstreaming with Queen Maxima of the Netherlands in her role as the United Nations, Secretary General’s Special Advocate (UNSGSA) for Inclusive Finance for Development. Queen Maxima of the Netherlands called on Dr Reza Baqir , a statement issued ... Read More »

Pakistan earns $120m from travel services’ export in 1Q

ISLAMABAD: Pakistan earned $120.070 million by providing different travel services in various countries during the first quarter of the current financial year 2019-20. This shows growth of 19.99 percent as compared to $100.070 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) reported. During the period under review, the personal travel ... Read More »

Prime reason for limited access to loans is lack of planning: FBR Chairman Shabbar Zaidi

ISLAMABAD: Federal Board of Revenue (FBR), Chairman Shabbar Zaidi has highlighted the reasons for limited access to loans for small and medium-sized enterprises (SMEs) due to lack of planning. Shabbar Zaidi, in his statement to the media, elaborated that the low rate of loans to the small and medium-sized sector is witnessed due to undocumented businesses which restricted the SMEs ... Read More »

Member Customs Jawwad Agha forms body to design centralized & automatic system for swift clearance

ISLAMABAD: The Federal Board of Revenue (FBR) considering launch an Artificial Intelligence (AI) based centralized scanning of all imported cargo and automatic customs declarations verification system. The verification of declarations will be through intelligent system based analyses and inference based on cargo images and customs declaration data with color coding library. This Artificial Intelligence (AI) software is internationally available and ... Read More »

LNG case: IHC approves former PSO MD Imranul Haq’s bail

ISLAMABAD: The Islamabad High Court (IHC) has on Tuesday approved former Pakistan State Oil (PSO) Managing Director (MD) Sheikh Imranul Haq’s bail plea in the Liquefied Natural Gas (LNG) case. According to details, the court has directed to release the suspect and ordered him to submit surety bond worth one million rupees. The National Accountability Bureau (NAB) had requested the ... Read More »

DGTR holds seminar on “Financial Crime Intelligence, Investigation & Asset Recovery”

ISLAMABAD: Directorate of Training and Research (DGTR) Islamabad in collaboration with City of London Police held a “Two Weeks Second Train-The-Trainers Course on Financial Crime Intelligence, Investigation And Asset Recovery” for BS-17 to BS-20 officers of Pakistan Customs Service (PCS). DGTR Director Iram M Aamir while talking with Customs Today said that the Directorate of Training & Research (Customs), Islamabad  ... Read More »

FBR extends tax, FED filing deadline up to Nov 29

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the date of submission of Sales Tax and Federal Excise returns up to November 29, 2019, for the tax period of October 2019. According to the FBR’s instructions issued to all chief commissioners Inland Revenue, Large Taxpayers Units (LTUs)/ Regional Tax Offices (RTOs), in exercise of the powers conferred under section ... Read More »

Impacts of macroeconomic stability to reach common man soon: Hafeez Shaikh

ISLAMABAD: Adviser to Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh on Monday said the government had restored macroeconomic stability in the country and a current account and primary balance surplus for the first time in many years as well as country’s booming stock market, stabilised exchange rate and a renewed interest from international community in Pakistani market ... Read More »

Smuggled goods, vitamin supplements recovered from godown of M/s Sheheen Chemists

ISLAMABAD: Collectorate of Customs Anti-Smuggling Organization with coordination of local police seized high value smuggled goods, counterfeit food and vitamin supplements with M/s Sheheen Chemists stamps from a godown in Rawalpindi. Talking with Customs Today, Assistant Collector Fahad Iqbal said that after instructions from Member Customs, Jawwad Agha and Chief Collector Customs Dr. Asif Jah, a special anti-smuggling team was ... Read More »

Central Power Pourchasing Agency wins Rs1b damages case against M/s Zonergy Company Limited

ISLAMABAD: The London Court of International Arbitration (LCIA) issued its final awards related to a dispute between Central Power Purchasing Agency (CPPA-G) and Zonergy Company Limited earlier this week. In the determination of the disputes between the parties, the sole arbitrator decided the required commercial operations date, “as agreed between the parties under the respective energy purchase agreements, represented a ... Read More »

FATF conditions: Pakistan cancels 25,000 licenses of NPOs

ISLAMABAD: Pakistan has taken various steps so far to address the tasks especially related to terror financing and money laundering. It has cancelled cancels licenses of over 25,000 Non Profit Organizations (NPOs) besides categorizing 140 NPOs as high-risk under further scrutiny. According to media, the govenrment has speeded up the process of cash seizure by 220% while taking number of ... Read More »

Asad Umar meets German envoy to discuss bilateral relations

ISLAMABAD : Federal Minister for Planning, Development and Reform and Special Initiative, Asad Umar met with German Ambassador Bernhard Schlagheck for discussing bilateral relations here Monday. During the meeting they discussed mutual interest in bilateral relationships, particularly improving trade and enhancing investment for scope of German companies in Pakistan, said a statement issued here. Both dignities expressed interest in exploring ... Read More »

FBR to launch ‘Point of Sale’ system next month

ISLAMABAD: The Federal Board of Revenue (SBR) will launch an automated ‘Point of Sale’ (POS) system for all mega retailer outlets and shopping malls in order to bring them into registration. This was stated by FBR chairman Syed Shabbar Zaidi in a Twitter statement on Saturday. He said FBR will launch the automated ‘Point of Sale’ (POS) for all large ... Read More »