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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

Bajwa reviews tax operations, meets British delegation

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has instructed all field formation officers to gear up their efforts to achieve the revenue target for the current fiscal year. As per details, the FBR chairman has given the instructions to officers during a presentation given by member IT Miss Ra’ana Ahmad at the FBR headquarters. In this presentation, member IR ... Read More »

FBR extends date for filing income tax returns

ISLAMABAD: The federal government extended the date for filing income tax returns following the failure to address technical glitches in the online portal, depriving the taxpayers of incentives linked with timely filing of returns including reduction in tax rates. According to the Federal Board of Revenue (FBR) notification, the last date for filing income tax returns for fiscal year 2013-14 ... Read More »

Sit-ins put billions of dollars foreign investment at stake

ISLAMABAD: The government fears that billions of dollars foreign investment will go down the drain due if sits-ins by the Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek continue in the federal capital. “The ongoing PTI and PAT sit-ins have been hitting the national economy hard as foreign investors are reluctant to invest in the country owing to the prevailing political impasse ... Read More »

Dastgir hails Azad Kashmir traders for rejecting Imran’s call

ISLAMABAD: Federal Minister for Commerce Khurram Dastgir has supported the business community in Azad Kashmir for rejecting the call of civil disobedience by Pakistan Tehreek-e-Insaf chief Imran Khan. The representatives of the business community in Azad Kashmir were of the view that the call of civil disobedience will further weaken the economy. They demanded Imran Khan take the call back. ... Read More »

FBR asks law ministry to fill vacant posts in customs appellate

ISLAMABAD: The Federal Board of Revenue (FBR) has asked the federal law ministry to fill all the vacant posts in Lahore, Karachi and Peshawar in customs and Inland Revenue appellate tribunals. According to sources, 10 posts of the judicial and technical members are vacant in the Customs Appellate Tribunal and 18 posts of the judicial and accountant members are vacant ... Read More »

SRO issued for new duty drawback rates on textile exports

ISLAMABAD: The Federal Board of Revenue (FBR) has issued SRO 754 of 2014, notifying new rates of duty drawback on export of textile and allied products. The new rates are effective from August 21. The FBR has issued another notification to allow new rates of duty drawback to exporters retrospectively from January 1 as well. It is to be noted ... Read More »

Pakistani mangoes now in Japan

ISLAMABAD: Pakistani mangoes have finally made it to Japanese market as the king of fruits is now being sold for the first time by the largest high-street retailer in Japan, AEON Corporation. The soft launch of Pakistani mangoes was held at new AEON Makuhari Mall – one of the largest in Tokyo which was inaugurated by Pakistani Ambassador in Japan ... Read More »

FBR to publish biweekly list of active taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) will publish a list of active taxpayers on a fortnightly basis to promote the culture of documentation. In the budget 2014-15, the government had introduced higher tax rates for non-filers and the FBR published a directory in April this year to reveal the names of tax defaulters. The board will publish the list ... Read More »

Commerce Ministry striving to enhance trade with Britain

ISLAMABAD: The Ministry of Commerce is striving for increasing the volume of bilateral trade between Pakistan and Britain with active engagement of the Pakistani community in UK. The ministry is planning to take advantage of the existing scope of import from England and to promote the export of high value-added textile products to England, bringing the trade volume to 2-3 ... Read More »

MFN status: Ministry, NTC yet to make recommendations

ISLAMABAD: The issue pertaining to recommendations on tariff barriers with India seems to have been in the doldrums because the National Tariff Commission (NTC) and Ministry of Commerce (MoC) declined having any information in this regard. The Customs Today had explored last week that the Ministry of Commerce had sought suggestions from the National Tariff Commission (NTC) to safeguard measures, ... Read More »

FBR collects Rs 134b amid Imran, Qadri’s sit-ins

ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs 134 billion revenue until August 26 against Rs 110 billion collected during the corresponding period of the last year, depicting a 20 percent increase in the tax collection, said Shahid Hussain Asad, the member of the Inland-Revenue and spokesman for the Federal Board of Revenue (FBR). “The sit-ins by the Pakistan ... Read More »

Imran, Qadri sit-ins: Economy suffers Rs 900b loss

ISLAMABAD: Senator Mushahidullah Khan on Tuesday claimed that sit-ins and protest demonstrations by Imran Khan and Tahirul Qadri had cost the national exchequer Rs 900 billion. Earlier, Commerce Minister Khurram Dastgir had claimed that the direct losses to the national economy due to the protest demonstrations stood at Rs 800 billion. While talking to this scribe here, the chairperson of ... Read More »

Large-scale manufacturing recorded 3.9pc growth in FY14

ISLAMABAD: The output by the large-scale manufacturing (LSM) witnessed a positive growth as it grew by 3.95 percent in the outgoing fiscal year 2013-14 against the last year, suggested the data of Pakistan Bureau of Statistics issued here. The growth in manufacturing sector was mainly driven by an increase in 11 categories of items during the year under review over ... Read More »

Retrieving $200b: FBR team leaves for Switzerland without Bajwa

ISLAMABAD: Two-member delegation of FBR has left for Switzerland to hold initial talks with respect to double taxation agreement. FBR Chairman Tariq Bajwa is not part of the delegation because of critical situation in the capital and his participation in the ECC meeting on August 26. The delegation comprises Chief Inland Revenue Tariq Masood and Secretary International Tax Sajida Kausar. ... Read More »

FBR to expand investigation into Q-Mobile tax evasion case: Shahid Asad

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to expand its investigations into Rs 770 million tax evasion case by the country’s top cellular company, Q-Mobile. After lodging a case against it for alleged theft of customs duty, now it has been decided to also bring income tax and sales tax into the investigation process. Talking to Customs Today, ... Read More »

KP shrugs off PTI chief’s civil disobedience call

PESHAWAR: The people of Khyber Pakhtunkhwa (KP) are giving a deaf ear to PTI chief Imran Khan’s call for civil disobedience by filing tax returns, official sources said. “They are paying all kind of outstanding dues with regard to sales tax and federal excise duty,” they said. Despite PTI government in the province, as many as 700 registered tax payers, ... Read More »

Dar Okays Rs 400m for evacuation of Pakistanis from Libya

ISLAMABAD: Finance Minister Muhammad Ishaq Dar has said that the government is duty-bound to evacuate stranded Pakistanis from Libya. Chairing a meeting for the provision of funds for immediate evacuation of stranded Pakistanis from Libya, Dar said that a local airline had agreed to evacuate each individual for $1,000. “This seems to be the only available option under the present ... Read More »

Dastgir says Imran, Qadri sit-ins cost economy Rs 800b

ISLAMABAD: Federal Minister for Commerce Khurram Dastgir has said that the economy of Pakistan has suffered Rs 800 billion losses until now due to the ongoing protests demonstrations and sit-ins in the federal capital. In a statement, Dastgir said that the current protests have paralyzed the economy as the direct losses have mounted to Rs 800 billion while the indirect ... Read More »

Traders start preferring Karachi port over Islamabad Dry Port due to sit-ins

ISLAMABAD: The importers and exporters from Islamabad have started importing and clearing their consignments from Karachi port instead of Islamabad Dry Port due to sit-ins in the federal capital. The traders of Islamabad have been more vulnerable to the effects of the present political disturbance than of any other city in the country. Many importers have cancelled their orders due ... Read More »

Imran, Qadri sit-ins: Women’s chamber for early end to political crisis

ISLAMABAD: The Islamabad Women Chamber of Commerce and Industry (IWCCI) has called for early resolution of the prevailing political crisis through meaningful dialogue between the government, Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT). The IWCCI also termed the ongoing sit-ins in capital in the name of Azadi and Inqilab marches against the national interests and tantamount to destabilising the ... Read More »