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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

Customs seizes 4kg heroin

ISLAMABAD: Pakistan Customs seized 4kg heroin from a UK-bound passenger at Islamabad Airport early on Tuesday morning. According to sources, the accused passenger, Ismail who belongs to district Nowshera, was going to Birmingham, UK on PIA flight PK-791. The passenger has been arrested and an FIR has been lodged against him. The Customs authorities have registered a case against the ... Read More »

NBP starts action against 11 bankers for Rs 12 billion fraud

ISLAMABAD: The National Bank of Pakistan (NBP) has taken action against 11 officials for their involvement in around Rs 12 billion irregularities. The accused include four Pakistani and seven Bangladeshi officials. According to documents available with Customs Today, the NBP detected irregularities, including untimely and improper classification of loan accounts in the light of Bank of Bangladesh circular no: 05/2006 ... Read More »

ANF seizes narcotics worth Rs5.75b

ISLAMABAD: The Anti-Narcotics Force claimed to have captured 3.1 tonnes of narcotics and arrested eight drug smugglers. The force claimed that the seized drugs worth was amounting to Rs5.75 billion. The narcotics were recovered during different raids carried out in Faisalabad, Lahore, Khanewal, Hyderabad and Pishin and. According to an ANF press release, most of the seized drug was destined ... Read More »

FBR sets up 200 centres to facilitate taxpayers

ISLAMABAD: The Federal Board of Revenue has established 200 tax facilitation kiosks to facilitate the business community in filing of income tax returns. The centres have been established at important business centres, shopping malls, offices of traders’ associations and chambers of commerce and industry, national and provincial assemblies buildings, federal secretariat, civil secretariats in all the provincial capitals, press clubs ... Read More »

Commerce Ministry striving to turn GSP Plus into FTA

ISLAMABAD: The Ministry of Commerce is making preparations to move a step forward by transforming the GSP Plus status into free trade agreement (FTA) with the European Union. In all, 406 members of the European Parliament supported the move at a session in Brussels on December 12, 2013 and granted GSP-Plus status to Pakistan on December 12 last year. It ... Read More »

FBR CBA union not illegal, claims Rashid Mehmood

ISLAMABAD: The Federal Revenue Alliance Employees Union in the Federal Board of Revenue’s has rejected the claim of the FBR that the union was illegal. Central Secretary Information of the Union Rashid Mehmood said that National Industrial Relation Commission (NIRC)’s single bench of Baqir Ali Rana had suspended the union on March 21, 2014 at the FBR’s plea but the ... Read More »

47 IR officers of BS 17-19 transferred

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted 47 Inland Revenue officers of (BS 17-19) with immediate effect. According to Notification No 1846-IR-I/2014, the Officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting. All the officers are requested to Relinquish/Assume charge, using online HRMS facility ... Read More »

NA Finance Committee to get briefing from IMF

ISLAMABAD: The National Assembly Standing Committee on Finance Friday announced to get briefing on overall economic situation of the country from representatives of the International Monetary Fund (IMF) on October 15. No committee of the either house has ever been given briefing by IMF in the past so far and it will be a new precedent if briefing is arranged. ... Read More »

FBR’s departmental promotion exam challenged in IHC

ISLAMABAD: Thirty seven employees of grade 14 working in Rawalpindi and Islamabad Regional Tax Offices of Federal Board of Revenue have challenged in the Islamabad High Court (IHC) the recently announced departmental promotional examination for posts of Inspectors in grade 16. They have requested the court to issue stay order till decision of the court. If the court gives stay ... Read More »

Telenor deposits Rs 24m tax after customs notice

ISLAMABAD: Telenor, one of the most popular cellular companies in Pakistan, has submitted Rs 24 million tax. As per details, Directorate General of Customs I&I Islamabad/Rawalpindi Deputy Director Eng Shahid Jaan had caught tax theft worth Rs 24 million in Telenor’s two goods declarations on importing equipment for its 3G towers. After investigation, the cellular company was found guilty of ... Read More »

FBR establishes over 200 desks to facilitate taxpayers

ISLAMABAD: In a bid to facilitate taxpayers for filing the income tax returns for 2014, the Federal Board of Revenue (FBR) has established more than 200 tax facilitation kiosk and tax facilitation centres throughout the country. The facilitation centres would be set up at business centres, offices of traders’ associations, chambers of commerce and industry, national and provincial assembly buildings, ... Read More »

Dar hints at fund for IDPs, flood affectees rehab

ISLAMABAD: Minister for Finance Muhammad Ishaq Dar said the government had envisaged setting up a Joint Trust Fund in collaboration with international donors for the rehabilitation of internally displaced persons (IDPs) and flood affectees. He said the government was deeply concerned about the plight of a large number of flood victims and IDPs. He was talking to British High Commissioner ... Read More »

Dastgir to visit Netherlands to improve trade ties

ISLAMABAD: Federal Commerce Minister Khurram Dastgir is scheduled to start a four-day official visit to Netherlands on coming Tuesday. The invitation for this visit was extended by Dutch Minster for Trade Ms Liliame Ploumen during her visit to Pakistan in May this year. During his stay in Amsterdam, minister will hold meetings with Dutch officials on matters of bilateral interest ... Read More »

Cross-border smuggling making big hole in exchequer

PESHAWAR: The rampant smuggling of auto parts and Nato forces equipment from Afghanistan into Pakistan has been going on unnoticed, depriving the national exchequer of huge revenue to the tune of billions of rupees. Informed border areas goers and residents of Khyber Agency divulged to Customs Today that auto parts and others goods were being trafficked from Afghanistan through horses ... Read More »

Britain to help FBR improve tax collection

ISLAMABAD – The Federal Board of Revenue (FBR) on Thursday signed a Memorandum of Understanding (MoU) with Her Majesty’s Revenue and Customs (HMRC). British High Commissioner Philip Barton and Finance Minister Ishaq Dar also witnessed the signing ceremony. As per MoU, the UK will provide technical assistance to the FBR over the next three years to help build its capacity ... Read More »

Bajwa assures tax relief for solar industry

ISLAMABAD: Pakistan Solar Association Vice Chairman Nouman Yousafzai asked Federal Board of Revenue Chairman Tariq Bajwa to give tax compensation in solar system, in a meeting here on Wednesday. As per details, Nauman Yousaf was of the view that by reducing tax value more public could be benefitted from solar power in recent energy crisis faced by country. FBR chairman ... Read More »

FBR chairman Bajwa refuses to accept CBA demands

ISLAMABAD: The Federal Board of Revenue while terming FBR’s CBA Union of Federal Revenue Alliance illegal has refused to accept its all demands. The FBR has taken stance that the union was not according to definition of NICR and FBR is a government organization, not trade organisation. The FBR further stated that the court has given verdict against the union ... Read More »

ANF receives 20,000 applications against 254 posts

ISLAMABAD: The Anti-Narcotics department has received more than 20, 000 applications till now against 254 vacancies in the ANF Headquarters Rawalpindi. As per details, Ministry of Interior has invited applications from suitable male/female candidates for the vacancies of grade1 to 14 to be submitted before September. Sources expected that number of applications would certainly touch the figure of 30, 000 ... Read More »

Revenue rises 24pc in 16 days of September: Shahid Asad

ISLAMABAD: The Federal Board of Revenue (FBR) claimed to have collected Rs 112 billion in 16 days of the ongoing month which is 24 percent more than Rs 90 billion collected in the corresponding period of last year. According to FBR Member Inland Revenue (IR) and official spokesperson Shahid Hussain Asad, FBR revenue collection has witnessed a growth of 24 ... Read More »

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