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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

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 »

Senate body defers deliberations on proposed amendments to Privatization Act 2013

ISLAMABAD: The Senate Standing Committee on Finance and Revenue on Tuesday heard the views of the mover Senator Sughra Imam on the proposed amendments to the Privatization Act 2013 and deferred further deliberations till next meeting. The sub-committee met here with convener Senator Talha Mehmood in the chair to resume deliberations on the proposed amendments. However, in the absence of ... Read More »

Regional counter narcotics seminar, workshop begin

ISLAMABAD: A two-day Regional Counter Narcotics Seminar and Workshop in close collaboration with Anti-Narcotics Force started here on Tuesday. The seminar and workshop has been organized by United Nations Office on Drugs and Crime (UNODC) Country Office, Pakistan. This seminar and workshop has been organised to promote regional and international cooperation between the counter-narcotics authorities from Pakistan, Afghanistan, Iran, Arab ... Read More »

FBR team leaves for Dushanbe to attend moot regarding use of chemicals in locally made bombs

ISLAMABAD: The delegation of the Federal Board of Revenue (FBR) has left for programme of World Customs Organization regarding the prevention of chemicals used in locally made bombs. The conference is organised by Global Shield in Dushanbe, capital of Tajikistan. The conference will start from January 28. South Asian countries including Pakistan, India and China will participate in the conference. ... Read More »

FBR asks RTOs for tax details of high profile personalities

ISLAMABAD: FBR has asked RTOs for details of assets and tax related documents of National Cricket players, Actors and people related to Showbiz. FBR source told Customs Today that the provided details would be cross matched with the tax returns of these celebrities and strict actions would be taken in case of tax evasion. The source told that the main ... Read More »

World Customs Day: Dar praises Pakistan Customs for achieving desired goals

ISLAMABAD: Finance Minister, Senator Ishaq Dar, while addressing the International Customs Day ceremony on the theme, “Coordinated Border Management”, organized by the Federal Board of Revenue (FBR), has said that Pakistan customs has made great efforts in achieving better visibility with its partners, including the international organizations, the business community, the development partners and other international trade stakeholders. Yet there ... Read More »

Finance Ministry expects average CPI up to 5.5% during current fiscal year

ISLAMABAD: The Finance Ministry has expected that the Consumer Price Index will remain between 4.5 to 5.5 percent during the current fiscal year. “The CPI remained volatile the previous fiscal year, but it has continued declining trend throughout the first half of the current fiscal year,” a well placed source at the Finance Ministry told Customs Today , saying that ... Read More »

FBR achieves 11.91pc increase in tax returns during last two financial years

ISLAMABAD: The Federal Board of Revenue (FBR) has been achieving a steady and significant increase in the number of income tax returns filers during the last two fiscal years. The figures available with Customs Today show consistent increase in figures and percentage during the fiscal years 2013 and 2014, respectively. The income tax returns are filed on yearly basis, not ... Read More »

ICCI hosts dinner to celebrate victory of United Business Group in FPCCI elections

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has hosted a grand dinner to celebrate the victory of the United Business Group in the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) elections. S.M.Munir Chief Executive TDAP and Patron-in-Chief of United Business Group (UBG), Iftikhar Ali Malik Chairman UBG, Mian Muhammad Adrees President FPCCI, Abdul Rauf Alam Chairman ... Read More »

Court orders SSP to take action against officials for arresting union president, others

ISLAMABAD: Additional Session Judge Lahore Shahida Saeed has ordered SSP Investigation Lahore to investigate why the President Federal Revenue Alliance Union Abdul Qayyum and others were arrested before registration of an FIR against them. The additional judge has declared this act as objectionable and ordered the SSP to take departmental action against the officials if found guilty. The union officials ... Read More »

17 FBR officers selected for PhD programme at GRIPS Tokyo

ISLAMABAD: The Federal Board of Revenue (FBR) has nominated 17 officers for PhD Programme GRIPS (Global Governance Programme) at GRIPS, Tokyo, Japan. The nominated officers include Muhammad Sadiq, Director, Directorate of Input Output Coefficient Organisation North Lahore Customs House (Nabha Road); Muhammad Abid, Secretary (IR-Operations), FBR; Syeda Adeela Bokhari, Additional Commissioner, FBR, Islamabad; Rafique-ur-Rehman, Additional Commissioner, 0/o ADC Audit Range-A, ... Read More »

Finance Ministry fails in hiring financial adviser for PSM

ISLAMABAD: The Finance Ministry has failed in hiring financial adviser to seek a strategic partnership for Pakistan Steel Mills (PSM) despite passage of six months of the decision. “The Privatisation Commission (PC) took the decision in this regard on July 22 last year. However the process of hiring of financial advisor seeking a strategic partnership for PSM is still in ... Read More »

Senate Finance Committee to review current status of demutualisation process

ISLAMABAD: The Senate Standing Committee on Finance and Revenue will review the current status of process of de-mutualisation of stock exchanges along with details of audits under progress today. “Demutualization is the process by which a customer-owned mutual organization or co-operative changes legal form to a joint stock company” a well- placed official source at Finance Ministry told Customs Today ... Read More »

Finance Ministry expects average inflation rate up to 5.5pc during current fiscal year

ISLAMABAD: In view of the falling oil prices, The Finance Ministry expects that the Consumer Price Index (CPI), indicating consumer price inflation, will range between 4.5 to 5.5 percent during the current fiscal year. The inflation remained volatile during the previous fiscal year, but it exhibited declining trends throughout the first half of the current financial year. A well-placed source ... Read More »

Pakistan Steels Mills awaits appointment of financial adviser despite incurring heavy losses

ISLAMABAD: The Finance Ministry has failed in hiring of financial adviser to seek a strategic partnership for Pakistan Steel Mills (PSM) despite passage of six months of the decision. The Privatization Commission (PC) took the decision in this regard on July 22 last year; however the process of hiring the financial advisor seeking a strategic partnership for PSM is still ... Read More »

Member Accountant, Commissioner-IR to retire in April

ISLAMABAD: Federal Board of Revenue (FBR) has issued notifications of retirement of two Inland Revenue Service (IRS) officers of BS-20. Muhammad Akram Tahir, Accountant Member, Appellate Tribunal IR, Bench-II, Lahore, will stand retired from Government Service on April 02, 2015 on attaining the age of superannuation. Sultan Wazir Khan, Commissioner-IR (Zone-IV) Regional Tax Office III, Karachi, will also stand retired ... Read More »

FBR recovers Rs 1300 million in 12 tax evasion cases against housing societies

ISLAMABAD: The Federal Board of Revenue (FBR) has recovered Rs 1300 million in twelve cases of tax evasion committed by housing societies in the jurisdiction of the federal capital.  “In the remaining cases assessment and recovery proceedings is under process” a well placed source at FBR told this scribe here on Friday adding that tax evasion to the tune of ... Read More »

Agencies to investigate TCS, Smartzone case: PM

ISLAMABAD: Prime Minister Pakistan Nawaz Sharif has handed over the investigation case of Korean Company TCS and Smartzone to agencies upon the request of Korean Ambassador. After the handing over of case agencies have started their investigation. Korean company Smartzone has said to agencies during investigation that the Customs Intelligence and Investigation officials have deliberately entangled us for the benefit ... Read More »

Three Senate bodies discuss current petrol crisis

ISLAMABAD: Three relevant standing committees of the Senate deliberate on the prevailing petrol crisis on Friday in a joint meeting here. The Ministry of Petroleum and Natural Resources and Water and Power and Finance and Revenue briefed the meeting regarding future of supply of petrol as well as possible power outrage due to much talked shortage of furnace oil in ... Read More »

Islamabad Customs Collectorate to celebrate Int’l Customs Day on Jan 26

ISLAMABAD: Model Customs Collectorate Chief Collector Nadir Khan Hoti has given directions to celebrate international customs day on Jan 26. The theme of this year’s International Customs Day will be “coordinated border management”. The arrangements are completed to burn the drugs of billions of rupees. The celebration will be held at Dry Port Margalla Railway Station. Finance Minister Ishaq Dar ... Read More »

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