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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

ANF seizes 3.3-ton drugs worth Rs333m, arrests 12 drug traffickers

ISLAMABAD: Anti-Narcotics Force (ANF) recovered huge quantity of drugs including 3331.850kg charas and heroin-filled capsules worth Rs333 million and arrested arrests 12 drug traffickers & seized four vehicles during seven different operations launched across the country. As per details, the ANF Quetta conducted a successful intelligence-led operation and seized 3281kg charas (garda) from uninhabited area of Killi Habib Zai, Dashti ... Read More »

Govt starts registering traders under SRO-608

ISLAMABAD: The government has started registration of the traders as prescribed in SRO-608 and notices have been issued to them. The traders have to pay tax on the sales. The government did not remove the SRO even after the calls of strike. The traders are doing their dire struggles to remove SRO but the Finance Minister Ishaq Dar has made ... Read More »

FBR starts deliberations to convert CNICs into NTNs

    ISLAMABAD: The Federal Board of Revenue (FBR) has started deliberations to convert computerized national identity cards (CNICs) into national tax numbers (NTN). “The main objective to adopt this system is to facilitate the taxpayers,” a source at the FBR told this scribe, adding that this system would enable the FBR to trace out anybody with lavish lifestyle but ... Read More »

Net Domestic Assets of banking system expand up to Rs 743 billion

ISLAMABAD: The Net Domestic Assets (NDA) of the banking system of Pakistan have expanded up to Rs 743 billion in the first half of the current fiscal year which marked a growing economic activity in the country. “Volume of NDA of country’s banking system in the first half of the previous fiscal year was Rs 595.3 billion,” a well placed ... Read More »

FBR sets up Transfer Pricing Unit to provide technical backstopping to field officers

ISLAMABAD: Federal Board of Revenue (FBR) has set up a Transfer Pricing Unit to work towards establishing a strong transfer pricing regime by providing technical backstopping to field officers. The Transfer Pricing Unit has also been established for building the field officers’ capacity, developing a resource base including database of comparables, proposing improvements in law and policy and establishing a ... Read More »

Ministry proposes steps for textile industry to compete with India, Bangladesh

ISLAMABAD: The Commerce Ministry has proposed various steps to enable textile industry to compete with textile industries of India and Bangladesh. The World Bank has placed both Bangladesh and India in the list of top 10 countries with highest textile exports in the fiscal year 2013 and these countries are posing serious challenge to Pakistani exports, especially the textile sector. ... Read More »

Collector Seema seeks report about Afghan Embassy’s ‘tampered’ land cruiser

ISLAMABAD: Customs Adjudication Collector Seema Raza Bukhari has ordered officials concerned to get a report regarding tampered land cruiser being used by Afghan Embassy in Islamabad. She has also ordered to send the vehicle to Afghanistan and get it verified in 30 days. Afghan Consulate General Third Secretary Abdul Nafay Raghbat had written application to the customs to issue duty-free ... Read More »

Customs Collectorate seizes smuggled goods worth Rs 222 million

ISLAMABAD: The Model Customs Collectorate has seized smuggling products worth Rs 222 million that include imported cloth, tyres, food grains and non-duty paid vehicles. Model Customs Collectorate Chief Collector Nadir Khan Hoti has ordered to take fast and effective steps to curb smuggling. He also directed the officials to present reports against smugglers on daily basis. Read More »

Customs Intelligence seizes smuggled goods worth Rs 7.3 million

ISLAMABAD: The Directorate General Customs and Intelligence Rawalpindi has seized the products worth Rs 7.3 million that include imported cloth, Non-duty paid hiace, tea, cigarettes, tyres, CD’s and compressors. The tax theft on these products is Rs 4.5 million. FIR has been registered and investigation has started against the smugglers. Read More »

Customs seize Rs 5.6m smuggled goods, arrest 2 smugglers

  ISLAMABAD: The Model Customs Collectorate Preventive Division has seized Rs 5.6 million smuggled clothes, tea and used parts of vehicles and arrested two smugglers. The Customs conducted raid with the help of Rangers and federal Police. The operation was conducted under the supervision of Assistant Collector HQ Yawar Nawaz on a secret information that smugglers are active in the ... Read More »

DC Amir transfers data entry operators

ISLAMABAD: Regional Tax Office Deputy Commissioner Headquarters Amir Javed has transferred data entry operators of Zone I, II, III and 9 to the computer lab. They have been transferred to ‘punch’ income tax returns in tax year 2014. The chief commissioner has given approval in this regard. These officials will work under the supervision of the PRAL Manager. Those transferred ... Read More »

Security be tightened at FBR offices: Tariq Bajwa

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has ordered the officials concerned to beef up security at the FBR offices across the country. The security has also been tightened at the FBR Islamabad headquarters and visitors have been advised to take appointments before meeting with any official. Sources told Customs Today that the FBR, in a notification, available with ... Read More »

Funeral prayer of Chief Collector Saleem’s mother-in-law offered

KARACHI: The funeral prayer of the mother-in-law of the Chief Collector-Enforcement (South) Muhammad Nazim Saleem was offered after the Zuhr prayers at Tooba Mosque (Gol Masjid) situated in Defence Phase-II here on Tuesday. A large number of customs officers, retired officers and officials attended the funeral prayers of the deceased while officers of different FBR’s wings were also present on ... Read More »

Finance Ministry: Delayed payment of public dues adversely affects cash flow

ISLAMABAD: The Finance Ministry has admitted that persistent delays in the payment of public dues by public entities directly affects their cash flows. “Untimely payment of public dues such as electricity, gas, taxes etc put financial strain on the government because the government has to pick up their liabilities to keep these entities functional,” a well-placed source at Finance Ministry ... Read More »

Construction of New International Airport to start soon at Gwadar, Senate body told

ISLAMABAD:  “The construction of New Gwadar Airport will start as soon as the Executive Committee of the National Economic Council (ECNEC) has granted approval of the project. The Central Development Working Party (CDWP) has already approved the project,” Gwadar Port Authority (GPA) Chairman Dostain Khan Jamaldini told the Senate Committee on Ports and Shipping here on Tuesday. Gwadar is located ... Read More »

Construction of New Gwadar International Airport to start soon, Senate body told

ISLAMABAD:  “The construction of New Gwadar Airport will start as soon as the Executive Committee of the National Economic Council (ECNEC) has granted approval of the project. The Central Development Working Party (CDWP) has already approved the project,” Gwadar Port Authority (GPA) Chairman Dostain Khan Jamaldini told the Senate Committee on Ports and Shipping here the other day. Gwadar is ... Read More »

Electronic sector: FBR widens scope of investigation into tax evasion  

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to widen the scope of investigation from electronic sector to other sectors which deal with massive imports of electronic or electrical products to find out possible tax evasion. A Lahore based electronic company has been found involved in committing tax evasion of Rs 10 billion through different means and tactics. A ... Read More »

Pakistani exports of leather products to cross $2.80b in five years

ISLAMABAD: The Ministry of Commerce (MoC) has high expectations of exports of leather products crossing the figure of $ 2.80 billion after five year. Leather products worth $957.5 million were exported in first 10 months of the fiscal year 2013-14 as compared to exports of $853.3 million in the same period of last year-–led by 12 percent growth each in ... Read More »

Black-marketing of Utility Stores sugar resulted in withdrawal of subsidy: Finance Ministry

ISLAMABAD: Black-marketing of sugar supplied to Utility Stores Corporation (USC) was also one of major reasons for withdrawal of subsidy being provided by the government on the items of daily use. Sugar was being sold at USC outlets on subsidized rates from July 2008 to April 2014 and then suddenly, the Economic Coordination Committee (ECC) of the cabinet in a ... Read More »

Rs 1900b socio-economic plan under PSDP improves less developed areas in 5 years: Finance Ministry

ISLAMABAD: The Finance Ministry has said that an allocation of Rs 1,900 billion under the federal public sector development programme (PSDP) in last five years has significantly improved socio-economic conditions of the less developed areas. The comparison of the socio-economic indicators shows that majority of the indicators have improved whereas the performance in some of the sectors remained stagnant. “Improvement ... Read More »