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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 ASO seizes smuggled goods worth Rs30m from Rawalpindi

ISLAMABAD: Collectorate of Customs Anti-Smuggling Organization (ASO) team on Saturday seized huge quantity of non-duty paid goods worth Rs30 million from Nankari Bazar Rawalpindi while culprits successfully fled away from the spot. Collector Seema Raza Bokhari received credible information that huge quantity of betel nuts and smuggled cigarettes were dumped in various godowns located near Jamil Market Nankari Nazar Rawalpindi. ... Read More »

FBR nominates four focal persons for tax amnesty scheme

ISLAMABAD: Federal Board of Revenue (FBR) Member Inland Revenue (IR) Policy Hamid Ateeq Sarwar has been nominated as the chief coordinator for successful implementation of tax amnesty scheme 2019. According to notification issued on Monday, the FBR designated Inland Revenue officers for the implementation of the tax amnesty scheme 2019. The following officers have been nominated as focal persons: Dr. ... Read More »

Customs I&I seizes huge quantity of smuggled goods during May

ISLAMABAD: Directorate of Customs Intelligence and Investigation (I&I) Deputy Director Abdul Mueed Kanju has said that during the month of May 2019, the I&I seized huge quantity of smuggled goods. Talking with Customs Today he said that on the instructions of Director General Muhammad Zahid Kokhar, anti-smuggling activities throughout the country have been geared up resulting in many phenomenal seizure ... Read More »

Govt to impose health tax on cigarettes & cold drinks

ISLAMABAD: The government has decided to impose health tax on cigarettes and cold drinks. It will be a part of the budget for next year, 2019-2020. Tax worth Rs10 will be imposed on a pack of cigarettes worth Rs20. tax will be imposed on carbonated drinks too. The government will charge Rs1 on 250ml bottles. The government hopes to earn ... Read More »

Govt to announce Economic Survey 2018/2019 on Monday

ISLAMABAD: The Ministry of Finance will present Economic Survey for 2018/2019 on June 10 (Monday) under which the GDP growth may be witnessed fall of 3.3 percent against the target of 6.3 percent. The government, however, set the economic growth at 4 percent for the next fiscal year. The economic survey may show a slide in manufacturing sector growth by ... Read More »

FBR to get withholding data from all banks to broaden tax base

ISLAMABAD: The first batch of withholding data from all banks will be made available to the FBR in the third week of ongoing month that will be used into data bank developed with the help of Nadra to broaden the narrowed tax base. The data bank developed with the help of National Database Registration Authority (Nadra) possessed all kinds of ... Read More »

Pakistan’s GDP growth rate to reach 2.7pc in 2019-20: World Bank

ISLAMABAD: Pakistan is on the path of consolidation to tackle sizeable fiscal and current account deficits but the imbalances are expected to diminish slowly, said the World Bank on Friday. The bank estimates the country’s GDP growth rate to reach 2.7 per cent in 2019-20. However, the consolidation measures, coupled with other macroeconomic improvements, are likely to lead to an ... Read More »

President Arif Alvi summons NA budget session on June 10

ISLAMABAD: President of Pakistan has summoned the budget session of the National Assembly (NA) on June 10, 2019. A letter of the national assembly secretariat on Friday said that the President has been pleased to summon the 11th session (Budget 2019/2020) of the National Assembly to meet in the Parliament House, Islamabad on Monday, June 10, 2019 at 4:00 p.m. Read More »

Govt decides to introduce mechanism to implement FATF’s condition

ISLAMABAD: The PTI-government has decided to introduce a mechanism to monitor lawyers, chartered accountants, real estate and expensive stones’ dealers, and all designated non-financial businesses and professions (DNFBPS) in line with the Financial Action Task Force (FATF) action plan. The government for this purpose will form a working group, comprising representatives of Ministry on Interior, Ministry of Law, the Securities ... Read More »

No concessions for individuals’ not availing tax amnesty scheme: PM Imran

ISLAMABAD: Prime Minister Imran Khan said on Tuesday that there would be no concessions for individuals not availing the tax amnesty scheme, hinting at a crackdown against evaders after June 30. The government’s economic team comprising advisor Abdul Hafeez Sheikh, State Minister for Revenue Hammad Azhar and Federal Board of Revenue (FBR) Chairman Shabbar Zaidi met with Prime Minister Imran ... Read More »

FBR Member IR Operations Seema Shakil directs to adopt extra measures for BTB

ISLAMABAD: Federal Board of Revenue (FBR) Member Inland Revenue (Operations) Seema Shakil has issued notification for taking measures for broadening of tax base. The notification issued in this regard stated that the prime minister has expressed his concern over narrow taxation base, low tax-to-GDP ratio, systematic aberrations in the taxation system and has desired that concerted efforts to put in ... Read More »

FBR extends date of filing of income tax returns till June 30

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the date of filing of income tax statements for the tax year 2018 till June 30, a press release announced on Monday. The date of filing of returns for companies, individuals and association of persons is also extended to June 30. The decision was taken to extend the last date for ... Read More »

FBR collects Rs13.5b during nine months of current FY

ISLAMABAD: The government’s campaign against tax defaulters helped the Federal Board of Revenue (FBR) to recover nearly Rs13.5 billion in the first nine months of this fiscal year. In addition to this, notices have been sent to rich people in order to bring them in the tax net. The total tax demand created through all these initiatives is around Rs31.2 ... Read More »

Exporters insist on zero-rated regime during meeting with PM

ISLAMABAD: A meeting between Prime Minister Imran Khan and leading businessmen and industrialists of the country ended without any decision on the grant of zero-rated status to the manufacturers of products that are exported. A participant of the meeting told media on condition of anonymity that although the meeting could not take a final decision on the issue of zero-rating ... Read More »

Process of accountability to continue indiscriminately: NAB Chairman Javed Iqbal

ISLAMABAD: National Accountability Bureau Chairman Justice (r) Javed Iqbal said on Monday that the process of accountability will continue without any discrimination. According to an official press statement, Javed Iqbal said that NAB is an impartial institution. The NAB chairman said that corruption is on the rise and mega corruption cases will remain the focus as it will lead to ... Read More »

IHC seeks reply from NAB on petition filed by Nimar Majeed challenging travel ban

ISLAMABAD: The Islamabad High Court (IHC) Monday sought reply from National Accountability Bureau (NAB) in a petition seeking removal of Omni Group’s Nimar Majeed from exit control list (ECL). Justice Aamer Farooq of IHC heard the case filed by Majeed, an accused in fake accounts case, seeking delisting his name from ECL. The petitioner’s counsel pleaded before the bench that ... Read More »

FBR receives 600 applications for sales tax refund bonds on first day

ISLAMABAD: The government has issued sales tax refund bonds worth Rs7 billion for exporters to resolve the long outstanding refunds issue. Till late on Friday night the government received 600 requests, totalling an amount of Rs45 billion of which Rs7 billion had been issued immediately, Minister of State for Revenue Hammad Azhar told media. “We will be issuing more as ... Read More »

PM Imran meets Saudi crown prince, discusses bilateral ties

MAKKAH: Prime Minister Imran Khan met Saudi Crown Prince Mohammad bin Salman on Saturday on the sidelines of the 14th Summit of the Organisation of Islamic Cooperation (OIC). The two leaders discussed matters of mutual interests and bilateral ties during their meeting in Makkah and took stock of the current state of bilateral, political, economic and trade relations. They also ... Read More »

Current tax system highly dangerous for economy: Shabbar Zaidi

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi has termed the country’s current tax system highly dangerous for the economy. He wrote a letter to Prime Minister Imran Khan drawing his attention to the faltering system of taxation. Painting a grim picture of the current tax collection system, Zaidi said it is not sustainable for the coming generations ... Read More »

Complete text of Pakistan National Single Window Act, 2019

ISLAMABAD: Pakistan has ratified the World Trade Organization (WTO’s Agreement on trade facilitation on 27th, October 2015 and as such under its Article 104.4 has committed herself to the establishment of “National Single Window” as category “c”commitment with an implementation timeline of five years with effect from 22nd February, 2917. Read More »