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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 seizes drugs worth Rs214.8m in 7 raids

ISLAMABAD: Anti-Narcotics Force has recovered drugs including 75.5kg opium, 10.6kg charas and 8kg heroin in seven successful operations conducted against drug traffickers in Faisalabad, Lahore, Sialkot, Kasur, Peshawar and Gilgit. During these operations, ANF has also arrested 11 persons including 2 lady smugglers and confiscated vehicles. The value of seized drugs, being transported to local markets, amounts to approximately Rs214.8m ... Read More »

FBR collects Rs230 billion revenue in September, shows 14pc growth

ISLAMABAD:Federal Board of Revenue (FBR) has collected Rs.549 billion till September 30, 2014 in the first quarter of current fiscal year 2014-15 against the collections of Rs.481 billion taxes in the same period of last fiscal showing an increase of 14 percent, a senior official of the board said. Member Inland Revenues and Spokesman of the FBR, Shahid Hussian Asad ... Read More »

Four PCS/IR officers of BS 18-20 relinquish charges, one transferred

ISLAMABAD: Federal Board of Revenue (FBR) has issued notifications regarding charge relinquishment/assumption and transfer/posting of Pakistan Customs Service and Inland Revenue Service officers of BS 18-20. In pursuance of Board’s Notification No 1867-CI/2014 dated 23.09.2014 & 184-CI/2014 dated 25.09.2014, Syed Hamid Ali, (PCS/BS-19) has relinquished the charge of the post of Additional Director, Directorate General of Internal Audit (Customs), Islamabad ... Read More »

FBR launches tax filing software ‘IRIS’

IRIS will enable taxpayers to file their tax returns from home or office ISLAMABAD: Federal Board of Revenue has launched new software ‘IRIS’ to keep records of taxpayers and to facilitate them in filing their tax returns. In the first step FBR has launched first module of the software ‘Return’ to facilitate the taxpayers, other 8 modules will be launched ... Read More »

FBR delegation to attend ECO seminar in Tehran

ISLAMABAD: A two-member delegation of Federal Board of Revenue (FBR) will represent Pakistan at Economic Cooperation Organization (ECO) intra-joint training seminar titled “Transfer Pricing, Fundamental principles and International Developments” in Tehran from October 6-8. Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan are member states of the ECO while Northern Cyprus enjoys observer status. A well-placed source ... Read More »

Dastgir to convince overseas investors today

ISLAMABAD: Federal Minister for Commerce Khurram Dastigr will try to motivate overseas investors to invest in Pakistan today (Thursday). The Minister will also listen problems and hardships of the investors during an interactive session with overseas investors during his address to members and office bearers of Overseas Investors Chamber of Commerce and Industry (OICCI). Well-placed at Ministry of Commerce (MoC) ... Read More »

FBR to revise transfers, postings mechanism

ISLAMABAD: Federal Board of Revenue (FBR) is working to revise a proper system of transfers/postings, through which the officials’ transfers and postings could be made with the consultation of Human Resource Management Wing of FBR. Sources said that the proposal of establishing the mechanism was given in the Board-in-Council meeting. “After implementing the proposal, transfer/posting of any FBR official will be ... Read More »

11 IR/PCS officers of BS 18-20 relinquish charges

ISLAMABAD: Federal Board of Revenue has issued notifications regarding charge relinquishment of Inland Revenue Service and Pakistan Customs Service officers of BS 18 to 20. As per details, in pursuance of Establishment Division Notification No 1/84/2014-E4, dated 19.02014, Imtiaz Ahmad Dev BS-20 officer of Inland Revenue Service has relinquished the charge of the post of Commissioner-IR (WHT), Regional Tax Office, ... Read More »

FBR fails to achieve first quarter tax collection target by Rs22b

ISLAMABAD: Federal Board of Revenue (FBR) has failed to achieve the monthly and first-quarter revenue collection targets mainly owing to devastating floods in the country. The Board missed the first-quarter tax collection target by Rs20 billion, which has also raised the question about achieving of annual target of Rs2.81 trillion. As per details, FBR collected Rs549billion from July to September, ... Read More »

FBR to defend non-implementation on FTO recommendations

ISLAMABAD: The Federal Board of Revenue (FBR) will defend its stance on non-implementation of recommendations of Federal Tax Ombudsman (FTO) tomorrow (Thursday) October 2 regarding solution of different cases. FBR Member Legal Ahmad Dildar and Member Planning Nisar Muhammad Khan would appear before the FTO on the issue. The FTO is a critical component of welfare states with adequate focus ... Read More »

Bajwa warns against undue protocol to relatives of FBR officials at airports

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has directed the security personnel and field formations to take orders only from FBR protocol officers and barred them from following any order or instruction from other protocol officers. The FBR chairman has taken the step after complaints of wrong use of powers against rules and regulations by some FBR officers. Sources ... Read More »

Court grants bail to 3 TCS officials in multi-million smuggling case

ISLAMABAD: Special Customs Court Judge Chaudhary Mumtaz has granted bail to three TCS officials and ordered their release, as they were on judicial remand in a smuggling case. As per details, three employees of TCS Kamran, Zohaib and Zeshan were produced in front of special Customs Court Judge Chaudhry Mumtaz, who ordered their release after an application of bail from ... Read More »

TCS smuggling case: Customs to get directors info from SECP

ISLAMABAD: The Directorate General of Customs Intelligence and Investigation Rawlalpindi has decided to get details via letter from the Securities and Exchange Commission of Pakistan(SECP) about TCS company’s registration and its directors involved in the smuggling case. A letter will be written to the SECP Director Enforcement while Customs Intelligence and Investigation has obtained details from SECP about the other ... Read More »

FBR to take action against 200 corrupt officials

KARACHI: On the orders of Prime Minister and Finance Minister, Federal Board of Revenue (FBR) has started a drive against corrupt officials to wipe out criminal elements from the revenue authority for increasing tax collection Sources said that FBR has ordered all the field offices to complete disciplinary proceedings in seven days against officials involved in corruption and misconduct. Finance ... Read More »

World Bank to discuss Tax Administration with FBR chief

ISLAMABAD: The World Bank mission will visit Pakistan next month for one week and will examine Tax Administration along with other sectors and will meet FBR Chairman Tariq Bajwa. The sources said that the WB mission would land in Pakistan on October 13 and the same day would meet Tariq Bajwa at FBR Headquarters. This meeting will last one hour ... Read More »

Language biggest hurdle in trade with Central Asia

ISLAMABAD: Language is a main hurdle for Pakistani exporters to compete in the Central Asian markets. Languages including, Turkmen, Uzbek, Qazaq (Kazakh), Kyrgyz and Russian are widely spoken and understood in the Central Asian countries and are drastically different from English, Urdu or local languages of Pakistan. Similarly, these languages are also written in Russian style or dialect. “Our exporters, ... Read More »

SBP, NBP, NIFT to collect duties, taxes on 29-30th: FBR

ISLAMABAD: Authorised branches of State Bank of Pakistan (SBP), National Bank of Pakistan (NBP) and National Institute of Facilitation Technologies (NIFT) will remain open on September 29-30, 2014 for collection of customs duty and taxes till 8pm. As per FBR notification, all field formations will remain open for collection of duties and taxes till 8pm on September 29 and until ... Read More »

FBR tells 62 officials to submit tax returns to get allowance

ISLAMABAD: The Federal Board of Revenue (FBR) has suspended the performance allowance of 62 officials between Grade 17 and 19 for not submitting their income tax returns. The FBR has issued a notification in this regard. However, the FBR Chairman Tariq Bajwa has barred the officials concerned from publishing the notification on the official website. According to the notification, if ... Read More »

FBR, Finance Division gear up for IMF, World Bank talks

ISLAMABAD: The Federal Board of Revenue (FBR) and Finance Division are making preparations for upcoming annual meeting with International Monetary Fund (IMF) and World Bank (WB). A well-placed source in the FBR told this scribe that tax reforms, money laundering and few such other issues would be at the top of agenda of the meeting with IMF and WB on ... Read More »

Bajwa to attend finance secretaries meeting on 30th

Islamabad: A meeting of provincial secretaries finance will be held on Tuesday in Finance Ministry’s Q Block in Islamabad. Federal Finance Secretary Dr Waqar Masud and FBR Chairman Tariq Bajwa will participate in the meeting. According to the sources, federal’ government tax issues with provincial governments will be discussed in the meeting. The provinces will demand their due share of ... Read More »