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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

Withdrawal of exemptions: Plan to be on PM’s table by end of December

ISLAMABAD: A plan containing a list of tax exemptions to be withdrawn from April 1, 2014 onward to raise more revenue is to be presented to the Prime Minister on December 30 for approval. The plan for fiscal adjustments and a road map for withdrawal of tax exemptions starting in April 2014 is expected to be announced by the Government next week. ... Read More »

Customs official kidnapped during shootout freed

RAWALPINDI: Customs officer kidnapped during the shootout in Rawalpindi has been released. Collector Customs Imtiaz Ahmed has said, “The kidnappers had no other option but to release the officer as raids had been started to arrest them.” Deputy Superintendent Customs Chaudhry Iftikharul Haq along with his two subordinates was shifting a container of smuggled goods after its seizure on the ... Read More »

Customs seizes smuggled goods worth Rs15.7b in three years

ISLAMABAD: Customs authorities, as part of their anti-smuggling drive, have seized goods worth Rs15.736 billion in the last three fiscal years. During fiscal year 2010-11, the authorities seized goods worth Rs5.502 billion, in 2011-12 they confiscated goods worth Rs4.905 billion and in 2012-13 goods valuing Rs5.329 billion were taken into custody. According to officials, the main source of smuggling goods ... Read More »

ANF thwarts heroin smuggling bid

RAWALPINDI: The Anti-Narcotics Force (ANF) foiled an attempt to smuggle heroin worth millions of rupees to Saudi Arabia and arrested an accused belonging to Khushab. A special team of ANF caught accused, Younas Masih red-handed at Benazir Bhutto International Airport and recovered one kilogram heroin of high quality, which he allegedly wanted to take to Saudi Arabia by flight KU-206. ... Read More »

Govt focused on building forex reserves: Dar

ISLAMABAD: Finance Minister Ishaq Dar has said that the government is focused on building foreign exchange reserves and various plans including floating of sovereign bonds, increasing remittances and disinvestment of public sector entities are in process. He said this during a meeting with a delegation of Crédit Suisse led by its managing director Ali Abbas Alam. Dar said that a ... Read More »

PCS Officers nominated for Mid Career Management Course

KARACHI: Establishment division has nominated the officers of Pakistan Customs Services for 17th mid career management course at National Institute of Management (NIM) according to a notification. The nominated PCS Officers are required to report to the respective NIMs at Karachi, Lahore and Peshawar on January 3, 2014 and NIM Islamabad on February 28, 2014. The following nominated officers are ... Read More »

Provincial tax departments to be e-linked with FBR

ISLAMABAD: Federal Board of Revenue has decided to link all provincial excise and taxation departments with FBR data bank. This will enable FBR to collect motor vehicles data electronically for registration of vehicle owners and maintaining withholding tax deduction data. Sources said that Chief Executive Officer of Pakistan Revenue Automation Limited has taken initiatives to ensure electronic transmission of data ... Read More »

Dar, Bajwa review impact of concessionary regime granted through SROs

ISLAMABAD: The actual cost of exemptions is much higher as compared to the tax expenditures. The huge cost of exemptions can only be reduced by withdrawing sales tax and customs duty exemptions. Sources said that this was the focal point of a meeting chaired by Finance Minister Ishaq Dar at the FBR House to review concessionary regime granted through SROs, ... Read More »

Lawyer for disqualification of non-taxpaying parliamentarians

ISLAMABAD: The inconsistency in the data provided in the nomination papers of the legislators submitted with the Election Commission of Pakistan and the data provided by the Federal Bureau of Revenue to ECP is expected to be taken up in Islamabad High Court. Muhammad Azhar Siddique, a senior lawyer has said that he would soon seek disqualification of those MPs ... Read More »

FBR for bringing restaurants into tax net

ISLAMABAD: Federal Board of Revenue has decided to enforce an electronic restaurant invoice monitoring system to bring the restaurants into the tax net thereby broadening the tax base. Source said that this decision has been taken due to the fact that hundreds of big hotels in the federal capital in particular and in all the big cities in general are evading ... Read More »

Top 100 taxpayers in 4 categories to get privilege cards: Asad

KARACHI: Federal Board of Revenue official spokesperson Shahid Hussain Asad has said that privilege cards will be issued in March 2014 to 100 top taxpayers in four different categories. This scheme is a part of Prime Minister’s incentive to the taxpayers to promote tax culture in the country. Under the scheme, top 100 taxpayers will be issued privilege/recognition cards falling ... Read More »

Massive tax evasion unearthed in posh area

ISLAMABAD: Directorate General of Intelligence and Investigation Inland Revenue has conducted a secret tax survey of Blue Area, the largest business hub of the federal capital, which revealed that half of 2,246 prominent business establishments are undocumented outlets. Special teams of the D I&I conducted surveys of the area without any physical interaction with the owners of the establishments. The ... Read More »

SROs not being abolished at once: Dar

ISLAMABAD: Finance Minister Mohammad Ishaq Dar said that SROs issued in the recent past are being examined thoroughly to make necessary amendments. SROs are not being abolished at once, what we are doing is amending unnecessary and ambiguous SROs after proper examining and 31st December will be the date for its final consideration. In an exclusive interview with Customs Today, ... Read More »

Non-taxpaying elite: Britain may halt development fund to Pakistan

ISLAMABAD: With an average of almost half the parliamentarians from all over Pakistan not paying their due and proper taxes, the British government can diminish development funds to Pakistan. These fears have risen after the publication of a report in Pakistan, which also shows that every tenth member of Pakistan’s national and provincial assemblies doesn’t even have a National Tax ... Read More »

Only double digit tax-to-GDP ratio to lower burden of loans: ICCI President

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Shaban Khalid said that every company and individual should be registered with Federal Board of Revenue as non-registration is burdening the existing taxpayers. The ICCI president, during an exclusive interview with Customs Today, said that culture of tax evasion is increasing in the country and small & medium entrepreneurs are suffering ... Read More »

Exporters await notification of GSP+ facilitation committee

ISLAMABAD: The Ministry of Commerce & Textile Industry has not notified GSP plus Facilitation Committee up till now. Exporters are worried as the new scheme would become operational less than a week from now. Sources said that after consultation with all stakeholders, the Ministry had decided to set up a GSP plus Facilitation Committee to ensure smooth export to EU ... Read More »

Bid to smuggle goods foiled after skirmish

ISLAMABAD: Model Customs Collectorate Islamabad’s anti-smuggling wing has successfully foiled an attempt to smuggle goods worth millions of rupees. Cloth of foreign origin, cigarettes and miscellaneous items were on their way from Peshawar to Lahore via the motorway when Customs staff acted on secret information that an attempt will be made to smuggle goods worth millions of rupees in a ... Read More »

Finance Minister reconstitutes Economic Advisory Council

ISLAMABAD: Federal Minister for Finance Senator Muhammad Ishaq Dar has given the approval for the reconstitution of the Economic Advisory Council. With the Finance Minister in its chair the Advisory Council shall have 19 other members from different walks of life. They are Dr. Ishrat Husain, Dean and Director, Institute of Business Administration, Karachi; Dr. Ijaz Nabi, Dean School of ... Read More »

Afghan diplomat assures of resolving Pak exporters grievances

PESHAWAR: Afghan Consul-General in Peshawar Syed Mohammad Ibrahimkhel has assured Khyber Pakhtunkhwa Chief Minister for the resolution of the grievances of Pakistani exporters on collection of extra-duties at Pak-Afghan border. The Consul-General of Afghanistan called on the Chief Minister, Khyber Pakhtunkhwa and discussed matters of mutual interests with him. He assured that he would talk to his government in this ... Read More »

47pc lawmakers are non-taxpayers: FBR

ISLAMABAD: Forty seven percent of the country’s elected legislators from the national assembly and four provincial assemblies all together did not pay income tax and 12 percent of these members do not even have a National Tax Number, according to FBR data. Furthermore, out of 680 members who declared their incomes in their nomination papers, 25 percent have been identified ... Read More »