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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

Govt imposes 20pc customs duty on import of tyres, tubes

ISLAMABAD: The Federal Board Of Revenue (FBR) has imposed 20 percent customs duty on import of tyres and tubes of small vehicles. According to details, 20 percent customs duty has been imposed on the import of tyres and tubes of small vehicles, including cars, jeeps, tractors, cycles and motorcycles. Only 5 percent customs duty will be charged on the import ... Read More »

SC sets aside tax demand by FBR; Hubco to be given Rs1.9b refund

KARACHI: The Apex Court has entitled Hub Power Company (Hubco) to a Rs1.9 billion refund after setting aside Federal Board of Revenue’s (FBR) tax demand against the company on the issuance of shares to the sponsors. The country’s top revenue authority, in 1998, made assessments that the Hubco did not pay withhold tax at the time of issuance of shares ... Read More »

FBR exempts 42 producers from submitting production details

ISLAMABAD: The Federal Board of Revenue (FBR) has exempted registered manufacturers of 42 different products from the condition of submitting quantity produced and supply details before the FBR by rescinding SRO 863(I)/2008. According to the SRO 493(I)/2015, the FBR has exempted the registered manufacturers of 42 different products making supply of taxable goods to submit each month. The 42 items ... Read More »

Customs Adjudication collects Rs 649 million as penalty amount in FY2014-15

Islamabad, Peshawar adjudication hears 1,776 smuggling cases ISLAMABAD: The Customs Adjudication Islamabad has collected Rs 649.08 million as amount of penalties in financial year 2014-15 while deciding the 355 cases of anti-smuggling. The adjudication heard cases related to the smuggling of food, clothe, tea, auto parts and mobile phone during the said period. According to the details, Collector Customs Adjudication, ... Read More »

FBR fires 163 employees of PRAL after expiry of contract

ISLAMABAD: The Federal Board of Revenue (FBR) has terminated almost 163 employees of Pakistan Revenue Automation Limited (PRAL) working on contract. Officials said that the FBR’s IT functions would be seriously affected following termination of a large number of IT professionals from PRAL. The PRAL was established in 1994 as a small IT setup is now one of the largest ... Read More »

Rawalpindi Excise achieves revenue target for 2014-15

ISLAMABAD: The Rawalpindi Excise and Taxation, Motor Branch, has achieved the revenue target for fiscal year 2014-15. According to details, the Motor Branch has collected Rs 612.6 million revenue, while the set target for the branch was Rs 600 million for fiscal year 2014-15. The branch has successfully achieved revenue in the column of registration, transfer, token and life token ... Read More »

Customs Intelligence seizes items worth Rs 396m from April, 2014 to June, 2015

ISLAMABAD: The Directorate General Intelligence and Investigation Rawalpindi region has seized smuggled goods worth Rs 396 million involving duty/taxes amounting to Rs 138 million, arrested 23 accused and registered 104 cases from April 2014 to June 22, 2015 under supervision of DG Lutfullah Virk. Deputy Director Headquarters, Khaldunul Haq told Customs Today that Customs Intelligence confiscated foreign origin cloth worth ... Read More »

Court rejects bail plea of suspect involved in tax evasion since 2012

ISLAMABAD: The Lahore High Court Rawalpindi bench has rejected bail application of accused Hammad Akbar Khan who was arrested by customs authorities at Banazir Bhutto Shaheed Airport. According to details, Hammad Akbar Khan was involved in case of customs duty evasion. The authorities lodged an FIR against him and presented a complete challan in the court while the accused has ... Read More »

IFC to establish business centre at Wagah to facilitate Pak-India trade

ISLAMABAD: The International Finance Corporation (IFC), a member of World Bank Group, will set up a business centre at the Wagah border, Lahore, to facilitate Pakistan-India trade, while the government of Pakistan has approved the project after clearance from security agencies. The purpose of the project is to bring ease in trade between both the countries, besides developing a trade-friendly ... Read More »

Court awards jail term, fines to accused involved in drug smuggling

ISLAMABAD: The Special Court of Anti-Narcotics has heard different smuggling cases and announced sentence of jail imprisonment and fine to four accused, including a foreigner drug smuggler. According to details, Judge of Special Court of Anti-Narcotics Chaudhary Anwer Ahmad Khan has heard different smuggling cases. While announcing its verdict the Court sentenced a foreigner lady smuggler named Jastena who is ... Read More »

Govt revises rate of regulatory duty on imported goods

ISLAMABAD: The regulatory duty of different imported products/goods has been revised by the government. According to the details, 15 percent regulatory duty has been imposed on the import of products under PCT heading 69.07 and 69.08 like tiles, cubes and similar articles. Import of waste and scrap of compressor under PCT heading 7204.4940 would also be subject to a regulatory ... Read More »

ANF foils bid to smuggle heroin to Sri Lanka

ISLAMABAD: Anti-Narcotics Force has thwarted an attempt to smuggle heroin to Sri Lanka at Benazir Bhutto Shaheed Airport Islamabad during operation. According to details, Anti-Narcotics Force received an information that an attempt is being made to smuggle heroin to Sri Lanka from Benazir Bhutto Shaheed Airport Islamabad. During the process clearance of the passengers, the ANF team recovered one kilogram ... Read More »

FBR’s income tax notices to bear bar codes

ISLAMABAD: Federal Board of Revenue (FBR) will issue income tax notices bearing verifiable bar codes from next financial year. The income tax notices to be issued from 1st July 2015 will be computer-generated and they will bear bar codes that can be verified from the FBR’s web portal. To ensure that the income tax notices are genuine, taxpayers will be ... Read More »

FBR lodges FIR against furniture company for millions of rupees sales tax envision

ISLAMABAD: The Directorate of Intelligence and Investigation, Inland Revenue, of the Federal Board of Revenue (FBR) has caught millions of rupees sales tax evasion in Islamabad. According to details, the Directorate of Intelligence and Investigation has caught a furniture supplier company, Fort Associates, which has business volume of Rs 465 million, is not paying sales tax. The directorate has lodged ... Read More »

Dar directs FBR to achieve revenue collection targets

ISLAMABAD: Federal Finance Minister Ishaq Dar has directed Federal Board of Revenue (FBR) to work hard to meet the revenue collection target set for the current financial year. According to a statement, Ishaq Dar issued the directive, while chairing a meeting, which was attended by FBR Chairman Tariq Bajwa and other senior officers of the board. The minister praised the ... Read More »

Inland Revenue’s Intelligence issues Rs 1 billion tax notice to Asif Zardari

ISLAMABAD: The Federal Board of Revenue Inland Revenue’s Investigation and Intelligence has served a notice on former president Asif Ali Zardari to pay Rs 1 billion tax included penalty amount on Bilawal House, Lahore. Director General IR-Intelligence, Haroon Tareen, has directed the officials concerned to deal the matter under the law and no any political influence be accepted in this ... Read More »

ANF seizes drugs worth Rs 26 billion during seven operations this month

ISLAMABAD: The Anti-Narcotics Force (ANF) has seized drugs worth Rs 26 billion and arrested 10 accused in seven operations until June 25, 2015. According to details, the Anti-Narcotics Force conducted seven operations and recovered drugs worth Rs 26 billion, including 10 tonnes of hashish, 517 kilogrammes of morphine and 55 kilogrammes of opium, while three vehicles were also impounded during the operation. Sources said that during ... Read More »

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