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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

Steel smelters seek extension in deadline to deposit WHT

ISLAMABAD: Steel smelters have asked Federal Board of Revenue to extend the last date for submitting withholding tax by about a month and a half. FBR had fixed June 30, 2014 as the last date for depositing WHT by various industries. Sources told Customs Today that the other industries have not asked for extension of the last date so far. ... Read More »

Peshawar dry port lacks basic facilities

PESHAWAR: Despite massive burden of importing and exporting goods, Peshawar dry port still lacks basic facilities of shelter for customers, customs agents and labourers who keep waiting for loading and unloading process of containers in raging heat under open sky. It has been witnessed at Peshawar dry port that labourers and customs agents wait in scorching Sun having no shelter to ... Read More »

FBR promotes four inspectors in RTO Peshawar

PESHAWAR: Four inspectors of Federal Board of Revenue in Khyber Pukhtunkhwa have been promoted as Inland Revenue officers. Sources in Regional Tax Office, Peshawar said that those who were promoted included Inspector Mohammad Rafiq, Inspector Rastbaz Khan, Inspector Mohammad Maroof and Inspector Persan Khan. All of the four inspectors belonged to Region Tax Office, Peshawar. Read More »

ANF foils heroin smuggling bid at Islamabad airport

ISLAMABAD: The Anti-Narcotics Force (ANF) foiled a bid of heroin smuggling at Benazir Bhutto International Airport and arrested an accused. According to the ANF, a passenger identified as Abid Sharif, a resident of Lahore, was arrested after he was caught with 60 capsules filled with heroin. He was trying to smuggle heroin to Abu Dhabi. Meanwhile, the ANF also recovered ... Read More »

Unprecedented: FTO directs action against ATIR members

ISLAMABAD: What is being described as unprecedented, the Federal Tax Ombudsman (FTO) directed the Appellate Tribunal Inland Revenue (ATIR) Registrar to initiate appropriate action under the law to reverse / modify the orders passed by some ATIR members. Instead of accepting the complaint, the FTO rejected the review application for being incompetent with the order that separate Contempt proceedings shall ... Read More »

Pak-Sino review meeting: Rehab of ML-1 railways track to figure high in talks

ISLAMABAD: The government is reviewing the possibility of rehabilitating the Karachi-Lahore-Peshawar (ML-I) railway track with Chinese assistance in an effort to ship imported and domestic coal from Sindh for generating about 8,000 megawatts of electricity in Punjab. The rail link is part of mega development schemes that will be discussed with Chinese authorities during the upcoming meetings in connection with ... Read More »

Customs clearance gets tougher at Islamabad dry port

ISLAMABAD: Assistant Collector of Islamabad Dry Port Yawar Nawaz has made it mandatory for consignments of imported fabrics to go through laboratory testing while strictly directing the staff at the dry port to ensure that the procedures of customs clearance are being properly followed. As per directives, the duties/taxes levied on the import of textile fabrics will be subject to ... Read More »

IMF okays 4th tranche of EFF for Pakistan

ISLAMABAD: The International Monetary Fund (IMF) approved the fourth tranche worth of $555.9 million under three-year Extended Fund Facility (EFF) for Pakistan. As per details, the International Monetary Fund (IMF) Executive Board completed the third review of Pakistan’s economic performance under the EFF arrangement. The completion of the review enables an immediate disbursement of an amount equivalent to SDR 360 ... Read More »

Customs seizes smuggled ball bearings worth Rs12.5m during routine check

ISLAMABAD: In an Anti-smuggling activity, Directorate of Intelligence and Investigation-Customs, Rawalpindi has taken into custody smuggled ball bearings worth 12.5 million rupees. The estimated levy of duties/taxes on the same ball bearing was supposed to be at 2.2-2.7 million rupees. As per details officials of the directorate were checking vehicles on the road in their usual manner when a Mazda ... Read More »

FBR promotes 9 senior PCS officers to Grade 20

ISLAMABAD: Federal Board of Revenue has announced promotion of nine Grade 19 officers of Pakistan Customs Service to Grade 20. A notification issued in this regard states that the officers of Pakistan Customs Service are promoted to BS-20 with immediate effect. The officers promoted include Suraiya Ahmad Butt, Dr. Naeem Khan, Mukarram Jah Ansari, Qurban Ali Khan, Asif Mahmood Jah, ... Read More »

Dar’s meeting: IDB reaffirms support to Pakistan

ISLAMABAD: The Islamic Development Bank (IDB) has assured its support to Pakistan in the country’s quest to implement its developments plans, said IDB President Dr Ahmed Mohammed Ali in a meeting with Finance Minister Ishaq Dar. Ali also offered the bank’s support in the enhancement of the current role extended by the IDB in the economic progress of Pakistan. The ... Read More »

DGI&I issues warning letters to 2 customs intelligence officers

ISLAMABAD: Directorate General of Intelligence and Investigation-Customs has issued departmental warnings to two customs intelligence officers while expressing serious concerns regarding the performance of their official duties and declaring them guilty of negligence. According to sources, Deputy Director Headquarters Muhammad Asif has issued written warnings to customs intelligence officers Abdul Majeed and Zulfiqar Ali. The warning letters state that they ... Read More »

Customs Intelligence confiscates power generators worth over Rs80m

ISLAMABAD: Directorate of Intelligence and Investigation-Customs, Rawalpindi has confiscated smuggled heavy duty power generators for industrial use in two raids. The raids were carried out under the leadership of Deputy Director Dr Muhammad Nasir Khan at two warehouses near Tarnol and Sector I-10 in Islamabad. The power generators were estimated to be worth Rs 80 million. Enquiry has been launched ... Read More »

SRO 568(I)/2014: Govt levies 5pc regulatory duty on 282 edibles, other goods

ISLAMABAD: The Government has imposed 5 percent regulatory duty on import of 282 different eatables and other items. As per SRO 568(I)/2014, in exercise of the powers conferred by sub-section (3) of section 18 of the Customs Act,1969 (IV of 1969), the Federal Government is pleased to levy regulatory duty on import of goods specified in column (3) of the ... Read More »

SRO 567(I)/2014: Govt exempts 50pc duty, taxes on import of Hybrid Electric Vehicles

ISLAMABAD: Federal Government is pleased to exempt customs duty, sales tax and withholding tax on import of Hybrid Electric Vehicles (HEVs) falling under PCT Code 87.03, up to 50 percent. FBR has issued an SRO S.R.O. 567(I)/2014 in this regard to make changes in its Notification No. S.R.O. 499(I)/2013, dated 12th June, 2013. In exercise of the powers conferred by ... Read More »

S.R.O. 576(I)/2014: FBR amends Sales Tax Special Procedure Rules, 2007

ISLAMABAD: FBR has issued S.R.O. 576(I)/2014 to direct that the following further amendments shall be made in the Sales Tax Special Procedure Rules, 2007. In exercise of the powers conferred by sub-section (1) of section 71 of the Sales Tax Act, 1990, read with clauses (9) and (46) of section 2, sections 3 and 4, sub-section (2) of section 6, ... Read More »

FBR issues SRO 575 (I)/2014 to make amendments in Sales Tax Act, 1990

ISLAMABAD: FBR has issued S.R.O. 575(I)/2014 to make following further amendments in its Notification No. S.R.O. 1125(I)/2011, dated the 31st December, 2011. In exercise of the powers conferred by clause (c) of section 4 read with clause (b) of sub-section (2) and sub-section (6) of section 3, clause (b) of sub-section (1) of section 8 and section 71 of the ... Read More »

Collection of duties, taxes: Banks to remain open for extended hours till 30th

ISLAMABAD: In order to facilitate the taxpayers in depositing their duties and taxes during the last few days of the current financial year, the State Bank of Pakistan, on request of FBR has decided to keep authorized branches of State Bank of Pakistan, National Bank of Pakistan, Commercial Banks and National Institute of Facilitation Technologies (NIFT) open for extended hours. ... Read More »

Runaway clearing agent among two arrested by DI&I over mis-declaration

ISLAMABAD: Directorate of Intelligence and Investigation-Customs, Rawalpindi has arrested two persons including the importer and the clearing agent for mis-declaration and tax evasion in share of customs duty on import of cloth at a large scale. The customs clearing agent was at first able to escape from the office of the directorate. He was later arrested and handed over to ... Read More »

US says put no bar on LNG export to Pakistan

ISLAMABAD: While praising Pakistan for its efforts to set up a liquefied natural gas (LNG) import terminal, the US has insisted that it slapped no bar on any country that is not part of the Free Trade Agreement (FTA) with Washington including Pakistan, on inking an LNG supply deal with US private enterprises. “Establishing an LNG import terminal and a ... Read More »