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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

ANF captures narcotics worth Rs916m, nails six

ISLAMABAD: The Anti-Narcotics Force (ANF) recovered 376.4 kgs of Hashish, 74 kgs of Heroin and 24 kgs of Opium in various raids carried out in Sheikhupura, Peshawar, Gilgit, Karachi and Hub. The force also nabbed six peddlers and seized two vehicles. According to details, the ANF Lahore intercepted a Toyota Corolla XLI (without number) near Sheikhupura Motorway Interchange and recovered ... Read More »

Customs court summons ex-TCS chief, others on 10th in smuggling case

ISLAMABAD: Investigations into the TCS smuggling case reveal that the address mentioned in the agreement between TCS and Smart Zone company was not physically existed. Shahidullah Jan, deputy director customs intelligence Rawalpindi Directorate who is investigating the case, has also confirmed to Customs Today that there was no such office in Peshawar. On the other hand, Customs Special Court has ... Read More »

Traders vehemently condemn vandalism by PAT, PTI activists

ISLAMABAD: All the chambers of commerce and industries across the country including the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) vehemently condemned vandalism by the activists of Pakistan Awami Tehrik and Pakistan Tehrik-i-Insaf and termed it a conspiracy against the country. Acting FPCCI President Shaukat Ahmad said that “Acts of vandalism, destroying or damaging public property deliberately, especially ... Read More »

Bajwa to visit PEMRA office to discuss tax matters of media houses

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa will visit PEMRA headquarters on September 2 to participate in an important meeting. Sources told Customs Today that the meeting will be organised to discuss tax matters of media houses. The FBR chairman was invited to seek advice on the matter. Read More »

FBR blacklists 3,058 industrial, trade units

ISLAMABAD: The Federal Board of Revenue (FBR) has blacklisted 3,058 industrial and trade units for alleged tax evasion and fake invoices, causing billions of rupees losses to the national exchequer during last six years. These blacklisted industrial and business units, including textile mills and dozens of other units situated in Faisalabad, Sialkot, Multan, Quetta, Gujranwala, Sargodha, Rawalpindi, Islamabad and Hyderabad. ... Read More »

Weekly roundup: Rupee manages to reverse dollar blows

ISLAMABAD: The sentiments-driven rupee received blows on Monday on the back of what the market gurus called the political turmoil haunting the country’s feeble economy for more than two weeks in the name of Azadi and Inqilab marches led by Imran Khan and Tahirul Qadri. Followers of Khan and Tahirul Qadri have been massed outside Parliament since Aug 15 in ... Read More »

FBR collects Rs 1b more revenue in August

ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the monthly revenue collection target of Rs 180 billion for August 2014 as it collected over Rs 181 billion during the month. Official data obtained by Customs Today showed that the FBR has provisionally collected over Rs 181 billion during the first 29 days of August 2014 against assigned monthly revenue ... Read More »

Customs agents seek transfer of NATO container cases to Peshawar

PESHAWAR: The customs clearing and forwarding agents have requested the National Accountability Bureau (NAB) chairman to transfer the NATO container disappearance cases from Karachi to Peshawar due to travelling issues. The agents also claimed that there is still no progress in the cases due to political involvement and NAB has so far been unsuccessful in proving the accusation of container ... Read More »

Bajwa, Ashraf tell field officers to achieve revenue target

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has visited large taxpayers to encourage them on their revenue collection efforts amid the current political situation in the country. On the directive of the FBR chairman, member Inland Revenue Operation Muhammad Ashraf Khan visited RTOs in Islamabad and Rawalpindi and met chief commissioners and urged the field formation officers to gear ... Read More »

ANF seizes narcotics worth Rs 244m, arrests 15 smugglers

ISLAMABAD: The Anti-Narcotic Force (ANF) claims to have recovered 578 kilogramme charas, 13.45 kilogramme heroin, six kilogramme opium and 500 gramme amphetamine during 12 raids carried out in Islamabad, Attock, Faisalabad, Peshawar, Gilgit, Quetta and Karachi. The force also arrested 15 peddlers, including a woman and seized three vehicles. According to details, the Peshawar ANF intercepted a tractor-trolley near Kachagarhi ... Read More »

FBR designs new software for online tax payments

ISLAMABAD: The Federal Board of Revenue has designed a new software for taxpayers to submit their tax returns online. The new software enables the taxpayers to submit their declarations of income tax, sales tax, withholding tax and federal excise duty through online service. As per details, FBR IT team has introduced the new software to facilitate the taxpayers so that ... Read More »

Pakistan Origin Card proposed to facilitate investors

ISLAMABAD: The Senate Standing Committee on Commerce and Textile Industry has asked the government to revive the abolished scheme of the Pakistan Origin Card (POC) for Pakistani expatriates to attract foreign investment in the country. Under the POC scheme the Pakistani expatriates, who had left Pakistan at the time of independence and their spouses, were allowed to travel to Pakistan ... Read More »

Bajwa reviews tax operations, meets British delegation

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has instructed all field formation officers to gear up their efforts to achieve the revenue target for the current fiscal year. As per details, the FBR chairman has given the instructions to officers during a presentation given by member IT Miss Ra’ana Ahmad at the FBR headquarters. In this presentation, member IR ... Read More »

FBR extends date for filing income tax returns

ISLAMABAD: The federal government extended the date for filing income tax returns following the failure to address technical glitches in the online portal, depriving the taxpayers of incentives linked with timely filing of returns including reduction in tax rates. According to the Federal Board of Revenue (FBR) notification, the last date for filing income tax returns for fiscal year 2013-14 ... Read More »

Sit-ins put billions of dollars foreign investment at stake

ISLAMABAD: The government fears that billions of dollars foreign investment will go down the drain due if sits-ins by the Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek continue in the federal capital. “The ongoing PTI and PAT sit-ins have been hitting the national economy hard as foreign investors are reluctant to invest in the country owing to the prevailing political impasse ... Read More »

Dastgir hails Azad Kashmir traders for rejecting Imran’s call

ISLAMABAD: Federal Minister for Commerce Khurram Dastgir has supported the business community in Azad Kashmir for rejecting the call of civil disobedience by Pakistan Tehreek-e-Insaf chief Imran Khan. The representatives of the business community in Azad Kashmir were of the view that the call of civil disobedience will further weaken the economy. They demanded Imran Khan take the call back. ... Read More »

FBR asks law ministry to fill vacant posts in customs appellate

ISLAMABAD: The Federal Board of Revenue (FBR) has asked the federal law ministry to fill all the vacant posts in Lahore, Karachi and Peshawar in customs and Inland Revenue appellate tribunals. According to sources, 10 posts of the judicial and technical members are vacant in the Customs Appellate Tribunal and 18 posts of the judicial and accountant members are vacant ... Read More »

SRO issued for new duty drawback rates on textile exports

ISLAMABAD: The Federal Board of Revenue (FBR) has issued SRO 754 of 2014, notifying new rates of duty drawback on export of textile and allied products. The new rates are effective from August 21. The FBR has issued another notification to allow new rates of duty drawback to exporters retrospectively from January 1 as well. It is to be noted ... Read More »

Pakistani mangoes now in Japan

ISLAMABAD: Pakistani mangoes have finally made it to Japanese market as the king of fruits is now being sold for the first time by the largest high-street retailer in Japan, AEON Corporation. The soft launch of Pakistani mangoes was held at new AEON Makuhari Mall – one of the largest in Tokyo which was inaugurated by Pakistani Ambassador in Japan ... Read More »

FBR to publish biweekly list of active taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) will publish a list of active taxpayers on a fortnightly basis to promote the culture of documentation. In the budget 2014-15, the government had introduced higher tax rates for non-filers and the FBR published a directory in April this year to reveal the names of tax defaulters. The board will publish the list ... Read More »