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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

Heroin smuggler sentenced to six month imprisonment, fine

ISLAMABAD: Anti-Narcotics Special Judge Iram Niazi has fined Rs 40,000 and gave a six-month imprisonment to Ziad Bin Shaukat. He belonged to Gojar Khan. He was arrested from Benazir Bhutto Airport on 23 July when he was trying to smuggle 0.5 kg heroin to Italy. Customs Investigation and Prosecution Inspector Shakeel Ahmad was interrogation officer while Deputy Superintendent Saeed Ahmad ... Read More »

Collector Seema orders seizure of sports car

ISLAMABAD: Model Customs Collectorate Adjudication Collector Seema Raza Bukhari has ordered seizure of a Nissan sports car of model 2006 with bogus registration number DGA-756. The car was seized from Commercial Market Rawalpindi and Muhammad Shaukat s/o Muhammad Hussain, a resident of Railway Scheme 9 Chaklala, was driving the car. He could not produce the documents regarding the legal import ... Read More »

FBR team making surprise visits to development projects in various cities

ISLAMABAD: A four-member monitoring and evaluation technical team of the Federal Board of Revenue (FBR) is paying surprise visits to the sites of ongoing development projects to monitor the pace and quality of work. “The team, comprising Engineers, Surveyors and architects is likely to visit sites of the under construction offices in Daska, Okara and DI Khan this month,” a ... Read More »

Commerce Ministry striving for bridging trade deficit

ISLAMABAD: The trade deficit between the imports and exports reduced to $ 0.50 billion in the current fiscal year as compared the previous fiscal year as in the current year the trade deficit is $ 19.90 billion whereas it was $ 20.40 billion last year. “In order to promote exports and reduce the gap between exports and imports, the Ministry ... Read More »

Finance Ministry constitutes 11-member Governing Council to reorganise PBS

ISLAMABAD: The Finance Ministry has constituted an 11-member Governing Council as a step to reorganise the Pakistan Bureau of Statistics (PBS) which may also lead to process of census in the country. The Governing Council will be responsible for setting of objectives and policy guidelines of the Bureau in accordance with the powers and functions provided in the Act, to ... Read More »

DG (Automation) Shafqat Mahmood retires

ISLAMABAD: Federal Board of Revenue (FBR), on attaining the age of superannuation, has issued notification of retirement of Shafqat Mahmood, BS-21 officer of Inland Revenue Service presently posted as Director General (Automation), FBR (HQ), Islamabad. According to the notification, the officer will stand retired from Government Services with effect from January 31, 2015. Read More »

Finance Ministry’s officials spend Rs 15.77m to attend WB, IMF meetings

ISLAMABAD: The Finance Ministry spent Rs 15.77 million on 12 visits abroad in last four years. These delegations visited US, Japan and Dubai to attend meetings with World Bank (WB) and International Monetary Fund (IMF). Finance Ministry is of the view that the World Bank reimbursed airfare for its Governors and Alternate Governors who are Finance Minister and Secretary EAD ... Read More »

FBR needs to improve IRIS to facilitate taxpayers

    ISLAMABAD: The Federal Board of Revenue (FBR) is required to overcome the inbuilt flaws in the software ‘IRIS’ which is being used to keep records of taxpayers and to facilitate them in filing their tax returns. “IRIS software has serious inbuilt faults and it does not stop a filler of tax returns from filling fake or incorrect information ... Read More »

Commerce Ministry gears up efforts to enhance export of surgical instruments

      ISLAMABAD: The Ministry of Commerce has followed numerous measures to increase exports of surgical instruments and goods. A well-placed source at MoC told this scribe here on Tuesday that exports of surgical instruments exceed $300 million in fiscal year 2013-14 as export of surgical instruments increased to $261million from $221 million than the fiscal year 2012-13. Surgical ... Read More »

Inland Revenue to collect capital value tax

ISLAMABAD: The Inland Revenue has decided to check the record of private housing societies to collect capital value added tax. The department has issued notice to one of the five societies situated in sector E-11 as it did not pay Rs 15 million capital value tax. It has also been decided to check the records of other societies of the ... Read More »

Finance Ministry striving to lower inflation rate

ISLAMABAD: The Finance Ministry is making due efforts to lower the existing inflation rate in the country to boost the economic activities as well as to ensure smooth economic development. A well-placed source at Finance Ministry Tuesday told this scribe here that the Ministry was taking numerous measures to control the rate of inflation including keeping the policy rate at ... Read More »

Nigerian drug trafficker sentenced to two and half years jail

ISLAMABAD: Special Judge anti narcotics Iram Niazi has fined Rs 50,000 with an imprisonment of 2.5 years to a Nigerian smuggler Uwa Anayale. He was arrested from Benazir Bhutto Airport on 10 July, 2014 when he was trying to smuggle 2.5 KG heroin. The Customs officials registered FIR 25/2014. Customs Investigation and Prosecution Inspector Shakeel Ahmad was interrogation officer while ... Read More »

Hearing in TCS smuggling case adjourned till Dec 10

  ISLAMABAD: Hearing in Rawalpindi High Court Bench of Lahore High Court on bail plea of TCS Courier Company and Smart Zone Smuggling accused Shakir Ullah and Ghazanfar Gill could not be held due to absence of their defense counsel Aitzaz Ahsan. The court fixed December 10 as next date of hearing. Deputy Director Shahid Jan and his counsel Ameen ... Read More »

Pak-Nigerian talks to boost exports to 18 West African countries

ISLAMABAD: The Ministry of Commerce (MoC) is in the process of concluding a Bilateral Trade Agreement (BTA) with Nigeria as an initiative to enhance trade especially exports to West African countries. On September 12, the Cabinet accorded approval to start negotiations for signing of Bilateral Trade Agreement (BTA) between the Government of the Islamic Republic of Pakistan and the Government ... Read More »

Deputy Director Shahid orders officials to maintain record of daily activities

  ISLAMABAD: Directorate General Customs Intelligence and Investigation Headquarters Deputy Director (DD) Shahid Jaan has ordered all officials to maintain record of their daily activities. He has also urged them to further improve their efficiency. The orders have been issued to maintain discipline in the department. According to sources, more guidelines are being prepared to improve the working of officials. ... Read More »

FBR Chairman Tariq Bajwa holds meeting to discuss ways to improve WeBOC

ISLAMABAD: The meeting of Federal Board of Revenue (FBR) on Web Based One Customs (WeBOC) was held in Islamabad Headquarters here on Monday. The FBR Chairman Tariq Bajwa presided the meeting, in which FBR Member IT Raana Ahmad, director RGA Karachi and collector customs appraisement Karachi were also present. The participants discussed the issues pertaining to WeBOC operating, and possible ... Read More »

Danish envoy: 5 more firms postpone Pakistan’s visit due to political chaos

ISLAMABAD:  Danish ambassador Jesper Moller Sorensen has disclosed that more than five companies from Denmark postponed their scheduled visits to Pakistan due to ongoing protest demonstrations. “These companies were keen to invest in energy, pharmaceutical and other sectors in Pakistan, but the image and impression portrayed by the media while showing mass rallies confused investors. Resultantly they had to postpone ... Read More »

Random balloting: FBR sends notices to 77,500 taxpayers for audit

Board has selected cases in six categories for tax year 2013     ISLAMABAD: The field officers of the Federal Board of Revenue (FBR) have dispatched notices to the selected taxpayer cases for audit identified through computer random ballot for the tax year 2013. The FBR started the process at the headquarters on September 25 and selected 77,500 cases for ... Read More »

Bajwa informs Dar: Minor amendment can be made in SRO-608 on traders’ request

ISLAMABAD: Finance Minister Ishaq Dar led an important meeting regarding SRO-608 in the Finance Ministry. Federal Board of Revenue Chairman Tariq Bajwa, PML-N MNAs Mian Abdul Manan and Pervez Malik took part in the meeting. The FBR chairman informed the finance minister about negotiations held between the FBR officials and traders. A slight change is likely to be made in ... Read More »

FBR girding up loins to reduce tax exemption

FBR Member Customs Nisar and Member Inland Revenue Shahid are leading respective departments in ongoing deliberation     ISLAMABAD: The Federal Board of Revenue (FBR) has geared up deliberations to prepare proposals to reduce tax exemption in the upcoming Finance Act. “Last year, the process started in the last quarter of the fiscal year,” a source told Customs Today. He ... Read More »