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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

Finance Ministry to study monetary practices in regional countries

ISLAMABAD: To understand the prevalent monetary policy practices in regional countries, the Finance Ministry has decided to conduct a study on the basis of information collected through a survey. “Representatives from the Finance Ministry, Federal Board of Revenue (FBR) and other departments concerned are sent to attend seminars, workshops, symposiums and other such activities in regional countries to gather more ... Read More »

Traders plan to go on strike against SRO-608

ISLAMABAD: All Pakistan Traders Union has postponed the call of strike until December 31 due to Peshawar incident. The union president Ajmal Baloch told Customs Today that the government had decided to remove SRO-608 but did not implement the decision. “We have not taken back the decision of strike but postponed due the tragic incident of Peshawar. The second problem ... Read More »

Proposals for Afghanistan-Pakistan-Tajikistan Transit Trade Agreement being finalised

ISLAMABAD: The Commerce Ministry has started finalisation of proposals and recommendations for trilateral Afghanistan-Pakistan-Tajikistan Transit Trade Agreement (APTTA). The recommendations will be presented in the fifth meeting of Afghanistan-Pakistan Transit Trade Coordination authority (APTTCA) to be held on 2-3 January 2015 in Islamabad. At the fourth meeting in Kabul last year, all sides expressed the resolve to intensify efforts to ... Read More »

Mills will have to get clearance certificate for sugar export

ISLAMABAD: Sugar mills will have to seek clearance certificates regarding outstanding arrears of growers from the cane commissioner prior to applying for export of sugar. According to the Sugar Factories Control Act 1950, the cane commissioner has powers of a collector under the Punjab Land Revenue Act 1887 and the Punjab Tenancy Act 1887 or any other enactment relating to ... Read More »

Chairman FBR Tariq Bajwa likely to become next Punjab Chief Secretary

ISLAMABAD: It is expected that after the retirement of current Punjab chief secretary Naveed Akram Cheema, Chairman FBR Tariq Bajwa is expected to be the next Punjab chief secretary. He has been very active throughout his career and especially he collected maximum revenue in his tenure during his services for FBR. His name is becoming popular for the Punjab chief ... Read More »

FBR completes audit of 1200 cases against tax evaders

ISLAMABAD: The Federal Board of Revenue (FBR) has given directions to the field formations that audit of 40 percent cases should be completed until December 31. As many as 3200 cases had been sent to the RTO Islamabad out of which 400 cases have been given to zone two and 1400 each have been given to zone one and zone ... Read More »

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 »