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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

Golden chance for taxpayers to file tax returns without fine

ISLAMABAD: The last date to file tax returns was December 5 and the government did not allow further extension. If a taxpayer could not pay tax within due date, he/she can file his/her tax returns on the website of FBR without fine. So far, more than 0.8 million taxpayers have submitted tax returns. The FBR had given extension until December ... Read More »

Traders announce strike as govt refuses to take SRO-608 back

ISLAMABAD: The government had promised to remove SRO- 608 by the first week of December 2014, but to no avail. The traders have decided to go on strike on December 31 throughout the country. During a meeting, the government officials ensured the traders on November 28 to remove the SRO, but later Finance Minister Ishaq Dar on his return from ... Read More »

2- day NTRC meeting discusses tax-related policy matters  

    ISLAMABAD: A two-day meeting of the National Tax Reforms Commission (NTRC) kicked off here the other day with discussions on policy matters of income tax, sales tax, customs duty, anti-smuggling strategy, reforms in the tax administration and others. A well-placed source at Federal Board of Revenue (FBR) told this scribe here that Member Administration, Member Inland Revenue (IR) ... Read More »

NFC share: Finance Ministry releases Rs 89.8b to Sindh in Q1

ISLAMABAD: The Finance Ministry has transferred Rs 89.8 billion to Sindh government in accordance with the National Finance Commission (NFC) award in first quarter of the current fiscal year (July to October). “In addition to above, Rs 80 million has been released to Government of Sindh for the Karachi specific Project “Lyari Expressway Resettlement Project”, a project co-funded by the ... Read More »

ANF seizes 3.45-ton drugs worth Rs3,780m

ISLAMABAD: Anti-Narcotics Force (ANF) has seized 3.391 tons charas and 58.5kg heroin worth Rs3,780 million in seven operations conducted in Islamabad, Rawalpindi, Attock, Jhelum, Karachi and Qilla Abdullah and arrested six accused including a Nigerian national. As per details, ANF Karachi, on pursuance of information, intercepted a Truck No TK-241at Super Highway near toll plaza and recovered 30kg heroin. The ... Read More »

ANF foils bids to smuggle Rs4,761m drugs abroad

ISLAMABAD: Anti-Narcotics Force (ANF) has recovered huge quantity of drugs, including included 2.4 tons opium, 920gram amphetamine (Ice), 17.2kg charas and 7g cocaine worth Rs4,761 million in seven different operations carried out in Islamabad, Rawalpindi, Haripur, Multan, Karachi and Pishin. As per details, ANF Quetta carried out a successful intelligence led operation and seized 2,372kg opium an area of Killi ... Read More »

Amir Khan Marwat relinquishes charge of DG Post Clearance Audit

ISLAMABAD: Amir Muhammad Khan Marwat, BS-22 officer of Pakistan Customs Service has relinquished the charge of the post of Director General, Directorate General of Post Clearance Audit, Islamabad. The officer, in pursuance of the notification of Federal Board of Revenue’s Establishment Division, relinquished the charge of the said post. Meanwhile, Mumtaz Ahmad, an officer of Inland Revenue Service, on promotion ... Read More »

FBR to launch awareness campaign as only 850,000 file tax returns

ISLAMABAD: The low number of income tax returns has forced the Federal Board of Revenue (FBR) to launch a campaign to create awareness among the masses about the benefits of paying taxes. “The Board-n-Council has asked the Facilitation and Taxpayer Education (FATE) unit to improve and refine the proposal of the awareness campaign,” a well-placed source at the FBR told ... Read More »

No Commerce Ministry assistance for provinces to develop export-oriented infrastructure

ISLAMABAD: The Ministry of Commerce does not provide any assistance to provinces for creating appropriate infrastructure for the development and growth of exports. “However, MoC takes necessary action on any complaints or difficulties, faced by exporters within its purview” a well-placed source privy to Minister for Commerce told his scribe here the other day. The source said that Ministry of ... Read More »

SAARC seminar on tax policy, reforms begins in Indian city of Nagpur today

ISLAMABAD: A week-long seminar on Tax Policy, Reforms to Improve Progressive Taxation is starting in Indian city, Nagpur from today (Monday). The seminar is being organized under the umbrella of South Asian Association for Regional Cooperation (SAARC) with an objective to share best tax practices among the member states as well as to learn from each others experiences. A progressive ... Read More »

FDI inflow into Pakistan enables govt to repay $1009.6 million loans

ISLAMABAD: The inflow of foreign direct investment (FDI) into Pakistan is on the rise and the country received $2640.9 million FDI last year. The increased amount of FDI enabled the government to pay $1009.6 million to the foreign countries during the fiscal year 2013-14. FDI is direct investment abroad where the investors have a complete control over their capital. There ... Read More »

Interceptions in mango export to Europe decrease

Things improve after Commerce Ministry made Hot Water Treatment mandatory for all exports being made through ports   ISLAMABAD: Interceptions in export of mango consignments to Europe has come down to two in 2014 than 180 in 2013 due to measures taken by the Commerce Ministry. Interceptions were made in Belgium, France, Germany, Ireland, Italy, Netherlands, Spain, Sweden, Switzerland and ... Read More »

FBR official gives presentation of computerised software to file tax returns

ISLAMABAD: The Federal Board of Revenue (FBR) IT Department Member Raana Ahmad presented the practical demonstration of computerised software to file the returns. FBR Chairman Tariq Bajwa, director generals and board members attended the meeting. The meeting aimed at providing information about the complaints regarding the software. It was said that the major reason behind the less tax returns than ... Read More »

Finance Ministry: PBS set to hold population, housing census

ISLAMABAD: The Pakistan Bureau of Statistics (PBS) has completed preparations to conduct 6th Population and Housing Census in the country. A census is the procedure of systematically acquiring and recording information about the members of a given population. It is a regularly occurring and official count of a particular population. The term is used mostly in connection with national population and ... Read More »

Dealers in TCS and Smart Zone smuggling case reply notices

ISLAMABAD: The dealers who had received more than 8,500 non-duty paid electronics from TCS and Smart Zone have started to submit replies to the notices sent by the Customs Intelligence and Investigation. Most of the dealers have taken a stance that they sent back the products but did not produce any evidence of it. The dealers have been told to ... Read More »

Tax defaulters of Rs 200 million flee to Northern Areas

ISLAMABAD: Haji Hasan and Mahmood Ali, the tax defaulter owners Universal Gateway Company, have fled to the Northern Areas. They did not pay the duty worth Rs 200 million on more than 100 containers of imported cloth. The owner of New Ehsan Clearing Agency Chaudhry Ehsan has got pre-arrest bail and filed an application for confirmation of his bail in ... Read More »

Export of Pakistani textile products increases manifold

ISLAMABAD: Number of countries importing Pakistani textile products has crossed the figure of 100, Customs Today learnt. It is a fact that textile sector plays a crucial role in the uplift of socio-economical development of the country as textile exports make up 52% of total exports worth $12.36 billion. Pakistan Textile Exporters Association (PTEA), Pakistan Readymade Garments Manufacturers and Exporters’ Association ... Read More »

50 Inland Revenue officers of BS-19 transferred

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted 50 officers of Inland Revenue Service (BS-19) with immediate. According to the Board notification, the officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting. The Board asked the transferred officers to relinquish/assume charge, using online HRMS facility ... Read More »

ANF Peshawar seizes 1,750kg charas, 500g heroin worth Rs1,757m

ISLAMABAD: Anti-Narcotics Force (ANF) has seized 1.75-ton charas and 500-gram heroin worth Rs1,757 million in three different operations carried out in Haripur and Peshawar and arrested two  drug smugglers and confiscated. According to details, ANF Peshawar on a tipoff intercepted a Bedford Truck No 4749 at Kohat Road, near Kohat Bridge and recovered 1,750kg charas. Drugs were packed in 70 ... Read More »

ANF recovers Rs52.24m worth 25.44kg charas, 4.03kg heroin in five operations

ISLAMABAD: Anti-Narcotics Force (ANF) has launched five operations in Rawalpindi, Lahore, Muzaffargarh, Peshawar and Karachi and recovered Rs52.24 million worth of 25.44kg charas and 4.03kg heroin and arrested nine alleged drug smugglers including three women and two Afghan refugees, seizing four vehicles. According to details, ANF Rawalpindi intercepted a Suzuki Mehran Car No. VE-527 near Chungi No 26, GT Road ... Read More »