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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 recovers 138-kg drugs, nails 4 peddlers

ISLAMABAD: The Anti-Narcotics Force (ANF) claimed to have recovered 114 kgs of heroin and 24 kgs of charas besides arresting four drug peddlers including a lady. The ANF conducted raids in various cities including Rawalpindi, Lahore and Peshawar and thwarted attempts to smuggle narcotics. According to the force, the captured drugs worth more than Rs 782 million in international market. ... Read More »

FBR spokesman Shahid Asad refuses to withdraw SRO-608

ISLAMABAD: The Federal Board of Revenue (FBR) spokesman and Inland Revenue Member Shahid Asad said that SRO-608 would not be withdrawn. He said it has been shaped after deliberations with stakeholders. “Retailers should take taxes as their national responsibility. Their behaviour is non-cooperative. This is not in the country’s favour.” He suggested that a certificate should be issued for every ... Read More »

Commerce Ministry plans infrastructure uplift at dry ports

ISLAMABAD: The Ministry of Commerce (MoC) is likely to spend a huge sum of money on the establishment of infrastructure to facilitate exporters to meet the international standards. As per policy guidelines prepared by the MoC in this regard, the Ministry would establish infrastructure like construction of cold storage, hot water treatment plants and other facilities at dry ports mainly ... Read More »

FBR decides to extend tax returns date for two more weeks

ISLAMABAD: The Federal Board of Revenue has decided to extend date for filing of tax returns, Customs Today reliably learnt on Monday. The current date for filing of returns is October 31 which would be extended for more two weeks to facilitate businessmen. The extension in date would be announced on October 31. Read More »

Foreign investment declined by 26.6% due to PTI, PAT sit-ins

ISLAMABAD: Foreign investment declined by 26.6 percent during three months time from July-September due to the protest and sit-ins by the Pakistan Tehrik-e-Insaf  and Pakistan Awami Tehrik. Similarly, Pakistani exports during same period declined by 6.273 percent while imports increase by 10.598 percent. Statistics collected by the Ministry of Finance and available with this scribe, revealed here on Monday that ... Read More »

Inactivation of NTNs by FBR perturbs taxpayers

ISLAMABAD: Act of making thousands of valid National Tax Numbers (NTNs) inactive by the Federal Board of Revenue (FBR) has put the taxpayers in hot waters. Since July onward, the FBR made thousands of valid NTNs inactive for not making any tax transaction during last few years. The NTN holders could not make any tax transaction either for one or ... Read More »

‘Toothless’ FBR on course to get freedom from ‘slavery’

ISLAMABAD: Efforts are underway to make the Federal Board of Revenue (FBR) an autonomous body — financially and administratively. This issue is very likely to be placed on agenda of the upcoming Board-in-Council meeting of the FBR. The FBR Act 2007 had guaranteed almost complete and full financial and administrative autonomy, however, due to the lack of the interest of ... Read More »

Two ‘fake suspects’ sent on judicial remand in smuggling case

ISLAMABAD: The Customs Special Court has granted judicial remand to two drug peddlers in crushed poppy plant head (Morphine) smuggling case. As per detail, court sent Malik Mazhar and Aslam to jail on judicial remand. The customs did not demand further remand on which the court sent the suspects to jail. Sources told Customs Today that the customs authorities have ... Read More »

Bajwa to brief IMF on tax reforms in Dubai meeting

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa will visit Dubai to participate in a meeting with International Monetary Fund (IMF) on October 29. In the meeting, the FBR chairman will brief the IMF authorities on broadening of tax net, tax reforms and tax revenues in Pakistan. The officials of the FBR hoped that the IMF will appreciate the performance ... Read More »

Islamabad collectorate collects 123pc more revenue

ISLAMABAD: Model Custom Collectorate (MCC) Islamabad has succeeded in achieving the revenue target during the first quarter of the current fiscal year by collecting 123 percent more revenue. As per detail, the Federal Board of Revenue (FBR) assigned a target of Rs 1.861 billion to the collectorate, while the MCC collected Rs 4.145 million. On the other hand, the MCC ... Read More »

TDAP revamp plan: CEO, Secretary to get more powers

ISLAMABAD: Plan for the revamp of Trade Development Authority of Pakistan (TDAP) has almost been finalised and to be presented before the competent authority for approval soon. A source privy to the Minister for Commerce told this scribe here on Saturday that a committee headed by the Secretary Commerce comprising Additional and Joint Secretary of Ministry of Commerce (MoC) had ... Read More »

Banks’ interest in Investment Bonds to improve maturity of debt  

ISLAMABAD: Active interest of banks in long-term Pakistan Investment Bonds (PIBs) will improve the maturity profile of the domestic debt significantly in remaining quarter of the fiscal year. An official source at Ministry of Finance and Revenue told this scribe here on Saturday that public debt had increased by Rs 277.9 billion in the third quarter with the significant additions ... Read More »

Customs to seize property owned by tax defaulter ‘Computer Point’

ISLAMABAD: The Model Customs Collectorate (MCC) Islamabad has ordered to seize moveable and immoveable property of a tax defaulter company, Computer Point, of Ghulam Rasool Plaza in Blue Area of Islamabad. Customs Recovery Cell Assistant Collector Haleema Raza issued warrant of attachment against the company and appointed Benazir International Airport Superintendent of Customs Muhammad Afzal as attachment officer under Customs ... Read More »

FBR to deal fake ‘refund claiming’ companies with iron hands

ISLAMABAD: Federal Board of Revenue (FBR) has decided to launch action against the sales tax registered companies and traders who have obtained refund running in millions of rupees on the basis of fake receipts of blacklisted companies. FBR has issued directives to inland revenue authorities to issue sales tax notices to registered companies and traders who have filed sales tax, ... Read More »

Pak, Iran, Afghanistan for enhancing cooperation against narcotics trafficking

ISLAMABAD: Pakistan, Iran and Afghanistan have agreed to further enhance intelligence sharing and joint border patrolling to check narcotics trafficking. This consensus was evolved among anti narcotics force agencies of three countries at a two day trilateral conference held in Tehran on October 21 and 22. The conference is a triangular initiative held in three countries in rotation and this ... Read More »

FBR team to attend ECO seminar on tax issues in Baku

ISLAMABAD: A two-member delegation of the Federal Board of Revenue (FBR) will attend the regional seminar on Taxpayers’ Services in Baku, Azerbaijan next month. The seminar is being held on November 6-7 under the auspicious of the Economic Cooperation Organization (ECO) to discuss means and option for provision of further facilitations to tax payers. This seminar was scheduled to be ... Read More »

Retrieving $200b from Swiss: Finance Ministry, FBR stunned over ‘misuse’ of authority

ISLAMABAD: The Finance Ministry and Federal Board of Revenue (FBR) are stunned over the outcome of mission sent to Switzerland to negotiate on the issue of bringing $ 200 billion from Swiss banks. Federal Minister for Finance Ishaq Dar had announced that talks would be held with Swiss authorities in August to bring back US$200 billion to Pakistan from banks ... Read More »

FBR chairman to brief foreign investors on Monday

ISLAMABAD: The International Investment Conference will be held in the federal capital on 27 October. Federal Board of Revenue Chairman Tariq Bajwa is likely to take part in the event. Bajwa will brief the international participants about tax system in Pakistan. He will also inform them about tax concessions for foreign investors. On the same day, Engro Corporation President Ali ... Read More »

FBR nominates officers for PhD, masters programs in Japan

KARACHI: The Federal Board of Revenue (FBR) has nominated its officials for five years PhD program, three years PhD program, two years masters program and one year’s masters program in Public Policy Analysis GRIPS Japan. According to circular issued on Friday, the officers nominated for 5-year PhD program are: Muhammad Hassan Farid, Assistant Collector, MCC, Lahore AFU, AIIP, Lahore; Muhammad ... Read More »

FBR to open 600 jobs stalled due to PM-President rift

Former PM and president violated merit and put “jobs for sale” tag   ISLAMABAD: The Federal Board of Revenue (FBR) has decided to recruit as many as 600 Grade 1-16 officials to overcome a shortage of manpower. The recruitment aims at improving enforcement system. Ads will be published in the newspapers in this regard. The FBR is facing a shortage ... Read More »