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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

DG Lutfullah Virk takes strict notice of staff absence

ISLAMABAD: Lutfullah Virk, the director general of customs intelligence and investigation, Islamabad, has taken serious notice of the absence and late coming of employees due to current political situation in the capital and warned them of stern action if they didn’t attend the office in time. The director general has also decided to install a bio-metric system in the office ... Read More »

Bajwa to visit Multan RTO on Friday

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa will visit Multan Regional Tax Office (RTO) on September 5 (Friday) to review the field formation operations and tax collection efforts. As per details, the FBR chairman and member Inland Revenue Muhammad Ashraf Khan will visit Multan RTO on Friday to discuss the strategy to achieve the revenue target for current fiscal ... Read More »

FBR exceeds revenue target for August by Rs 3 billion

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 183 billion during the month. Official data obtained by Customs Today showed that the FBR has provisionally collected over Rs 183 billion during August 2014 against assigned monthly revenue collection target of Rs 180 billion with ... Read More »

FBR meeting to review revenue operations

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa to preside a meeting to review field operations and revenue collections, on Wednesday. As per details, the FBR members and director general of withholding will also attend the meeting and give their suggestions to improve the strategy for revenue collection. Read More »

237 Pak expats identified as potential investors

ISLAMABAD: Pakistani embassies from 11 countries have sent a list of 237 potential investors and companies (including ones of Pakistani origin) to the Ministry of Commerce (MoC). The countries include Kenya, Hong Kong, Malaysia, Qatar, South Africa, Australia, US, Tanzania, United Arab Emirates (UAE), Thailand and United Kingdom (UK). In pursuance of the proposal of seeking assistance from Pakistani missions ... Read More »

Swiss talks: FBR Chief, Members to get briefing today

ISLAMABAD: Two-member delegation of FBR has returned back to Pakistan after holding initial talks with respect to double taxation agreement with Switzerland. According to FBR sources, talks remained successful with Swiss officials and there is a strong chance that a consensus would be reached over proposed amendments in the agreement earlier than expected. FBR Chief International Tax will brief the ... Read More »

Islamabad Customs initiates investigation into Telenor case

ISLAMABAD: The Federal Board of Revenue Directorate General of Customs Intelligence and Investigation has started investigations into telecommunication service provider, Telenor, on mis-declaration in import of telecommunication equipment. Sources told Customs Today that Customs I&I has started reviewing goods declaration forms by the company in this regard. “Customs Intelligence initiated investigation on request of the Karachi Customs into the mis-declaration ... Read More »

Pak, China striving to lift trade ties under FTA

ISLAMABAD: With the aim to enhance volume of bilateral trade, Pakistan and China are committed to resolve the issues of electronic data interchange, sanitary and phyto-sanitary measures (SPS) and technical barriers to trade (TBT). According to the Ministry of Commerce (MoC), trade volume between Pakistan and China which was around $4.1 billion in t 2006-07 has reached all-time high in ... Read More »

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 »