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Islamabad

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

FBR asks govt servants to declare assets by Feb9

ISLAMABAD: Federal Board of Revenue (FBR) has asked the government servants to declare assets, they held and acquired for the year ending on June 30, 2014. According to the FBR notification, a number of officers have still not submitted their declarations of assets despite the letters issued to them. The revenue authority, taking serious action, has initiated process to discontinue ... Read More »

Two annual increments of Commissioner-IR withheld over misconduct, inefficiency

ISLAMABAD: Federal Board of Revenue (FBR), after complete inquiry against Mumtaz Ali Bohio, Deputy Commissioner-IR, Regional Tax Office-III, Karachi, has withheld his two annual increments over misconduct and inefficiency. As per details, Khawar Saeed Akhtar (IRS/BS-20) was appointed as inquiry officer with the task to scrutinise the conduct of the accused officer on the charges of ‘misconduct’, ‘inefficiency’ and ‘corruption’. ... Read More »

FBR approves new guideline for performance allowance of staff

ISLAMABAD: Board in Council Federal Board of Revenue (FBR) has approved new guide line suggested by Member Administration Said Jatoi for performance allowances of officials. This radical step will help control corruption and improve the overall performance of institute. According to the sources FBR officials have increased codel formality from one to two for performance allowance. Under codel formality FBR ... Read More »

75pc companies fail to file income tax returns with FBR: SECP chief Hijazi

ISLAMABAD: The Federal Board of Revenue (FBR) has shared a list of 10,000 corporate companies with Securities and Exchange Commission of Pakistan (SECP) to check out their current status. According to SECP Chairman Zafar Hijazi, these companies had not filed their income tax returns. Out of 10,000, around 7000 to 7500 companies are still operational with the SECP but are ... Read More »

Speed of development at Gawadar to increase: Ahsan

ISLAMABAD:  The speed of development at Gawadar will increase with every single project coming on ground under China-Pakistan Economic Corridor, said Minister for Planning and Development Professor Ahsan Iqbal He said that the Gawadar would be made a smart port city having commercial and tourist facilities like Singapore or Dubai. Addressing at a seminar on potentials and prospects of Gawadar ... Read More »

ICCI welcomes cut in key policy rate and calls for further reduction‏

ISLAMABAD: Businessmen in a meeting at Islamabad Chamber of Commerce and Industry lauded the government decision to reduce the key policy rate by one percent. However, they demanded that government should make further cut in discount rate to bring it to 8 percent that would lower the cost of doing business and prop up the growth of business & economic ... Read More »

Dar lauds Japan for $19m grant aid to Pakistan

    ISLAMABAD: Pakistan and Japan had a long history of economic cooperation, Finance Minister Senator Ishaq Dar said, adding that he was now looking forward to furtherance of this cooperation with enhanced Japanese investment in Pakistan as pledged during his visit to Japan. “The inauguration of state of the art Yamaha motorcycle plant in April, would also add another ... Read More »

Two-day regional counter narcotics seminar concludes

ISLAMABAD:  Anti Narcotics Force and United Nations Office on Drugs and Crime (UNODC) has arranged a two-day regional counter narcotics seminar and workshop on drug free city, concluded here on Wednesday. The seminar and workshop was attended by Ghalib Ali Bandesha Secretary Narcotics Control Division, Cesar Guedes Country Representative UNODC, Major General Khawar Hanif Director General ANF, Brigadier (R) Mowadat ... Read More »

CNG sector to directly import LNG from March 31

ISLAMABAD: The Compressed Natural Gas (CNG) sector will directly import the Liquefied Natural Gas (LNG) after which no CNG station would face closure. An official of Ministry of Petroleum and Natural Resources told Customs Today that the the import of LNG will start from March 31 in the country. “After arrival of LNG the annual demand of petrol in Punjab ... Read More »

Delegation of second hand clothing association meets Chairman FBR

ISLAMABAD: General Secretary All Pakistan Second Hand Clothing Association Sheikh Muhammad Naeem Badshah along with 4 members of association met Chairman Federal Board of Revenue Tariq Bajwa. The association members told Chairman FBR about the problems they atre facing and proposed suggestions for next budget. Other members of delegation were Ajab Khan, Noman Yousuf, Muhammad Atif and Ali Zain. Read More »

FBR to re-devise sales tax registration system

ISLAMABAD: The Federal Board of Revenue is in process of re-devising system of sales tax registration to clear backlog of pending applications, seeking new Sales Tax Registration Numbers (STRNs). Sources told Customs Today that a meeting was held by FBR officials to discuss sales tax registration. FBR Member IR Operations, Member IT CEO Pakistan Revenue Automation Limited (PRAL), Chief IR ... Read More »

Interior Ministry sources: Govt destroys poppy crop in FATA

ISLAMABAD: Talks are underway with several countries to curb smuggling of narcotics, a source in the Narcotics Control Division of the Interior Ministry told Customs Today. He said the international community has acknowledged achievements of the ANF in seizure of narcotics. “Unprecedented and record seizures by ANF are indication of ANF’s resolve to combat the menace of drugs,” the source ... Read More »

Khuram Dastgir-Janan Musa review progress on Pak-Afghan Preferential Trade Agreement

ISLAMABAD: Federal Minister for Commerce Engineer Khuram Dastgir and Afghan Ambassador Janan Musa Wednesday reviewed development on the agreed points on Preferential Trade Agreement (PTA) between both the countries. They also analysed the progress made by relevant ministries of the both the countries on agreed issues related to trilateral transit trade agreement including Pakistan-Afghanistan-Tajikistan. A well-placed source privy to Commerce ... Read More »

World community recognises ANF’s achievements for huge seizures of narcotics, drugs

ISLAMABAD: The international community has acknowledged achievement in seizures of narcotics made by the Anti Narcotics Force (ANF) because ANF is striving hard to control drugs trafficking through Pakistan. “Unprecedented and record seizures effected by ANF are indication of ANF’s resolve to combat the menace of drugs,” a well placed source in Narcotics Control Division of Ministry of Interior told ... Read More »

Collector Zeba: Non duty paid cars will be auctioned next month

ISLAMABAD: Model Customs Collectorate collector Zeba Hai has ordered to speed up the process of revenue recovery. The non duty paid cars will be auctioned in the next month. The revenue collected in the previous months was one hundred and forty percent more than the given target. The collector has given instructions to prevent illegal trade and corruption. Talking about ... Read More »

China to hold 2nd phase CPFTA talks on less than equal reciprocity principle

ISLAMABAD: While accepting the demand placed by the Ministry of Commerce, China has in principle agreed to hold second phase of negotiations with Pakistan on less than equal reciprocity principle in fovour of Pakistan. “The very term ‘less than equal reciprocity principle’ is normally used in General Exchange of equal or identical advantages or privileges, such as removal of traveling ... Read More »

FPCCI to work for revival of economy: President Adrees

    ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry in consultation with chambers and trade bodies was working to develop short, medium and long term plans for economic revival and would fully support the government in the economic uplift of the country, observed Mian Muhammad Adrees, President, FPCCI. He was addressing a grand dinner hosted by Islamabad ... Read More »

FBR’s report raises apprehension about single stage sales tax system

ISLAMABAD: An analysis report of the Federal Board of Revenue has raised apprehensions over the concept of single stage sales tax proposing to replace 17 percent sales tax by 5-6 percent non-adjustable levy. It is learnt that Shafqat Mehmood, Director General Automation FBR, has submitted an analysis report on the study “Single Stage Sales Tax System”. According to the DG ... Read More »

Sales tax refund claims to be cleared by February 28

ISLAMABAD: Minister for Textile Industry Abbas Khan Afridi was informed that all deferred claims of textile sector would be disposed off before February 28, 2015 and necessary instructions have already been issued. The minister presided over a meeting on issues of textiles sector with Federal Board of Revenue and stressed that it was a national obligation to bail out textile ... Read More »

12 Inland Revenue officers of BS 17-19 transferred

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted 12 Inland Revenue Officers of BS 17-19 with immediate effect. According to the notification, the officers who are drawing performance allowance prior to issuance of this notification will continue to draw this allowance on the new place of posting. The Board has asked the officers to relinquish/assume charge, using online HRMS facility ... Read More »