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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

Gilgit-Baltistan Assembly discusses non-customs paid vehicles

GILGIT: Gilgit-Baltistan legislative assembly Speaker Wazir Baig has urged treasury benches to inform the house whether non-customs paid (NCP) vehicles have been regularised after the payment of customs duty. The speaker’s remarks came after lawmakers complained that the fate of NCP vehicles hangs in the balance despite paying customs duties. “A court in Islamabad has declared the federal government’s amnesty ... Read More »

Gold import increases by 380.47pc in Q1

ISLAMABAD: Gold import into the country has soared up to 380.47 per cent during the first quarter of the current fiscal year as compared to the same period of last year, according to Pakistan Bureau of Statistics (PBS). The data reveal that 3,286kg gold was imported during July-September 2013-14 against 542kg during the same period of last year. The country ... Read More »

FBR extends date of filing of IT returns/statements up to Nov 30

ISLAMABAD: Federal Board of Revenue (FBR) has extended the date of filing of Income Tax Returns/Statements for the Tax Year 2013 to November 30, using powers conferred under section 214A of the Income lax Ordinance, 2001. According to the notification, the date of filing of Returns of Total Income/Statements of Final Taxation of companies whose tax year ends any time ... Read More »

No new customs duty on motorcycle industry

ISLAMABAD: Federal Board of Revenue (FBR) has given duty concessions to the manufacturers of motorcycles by issuing SRO.939(I)/2013 and SRO.940(I)2013. The FBR will not charge the additional customs-duty on sub-components and components, imported in any kit form by a new entrant assembler or manufacturer of motorcycles in Pakistan. Through these notifications, FBR has amended SRO 656(1)/2006, dated June 22, 2006 ... Read More »

Aftab Baloch assigned look after charge of Member Accounting at FBR

ISLAMABAD: Aftab Anwar Baloch a (BS-21) officer of Pakistan Customs Service Group presently posted as Member Enforcement, Federal Board of Revenue (Hq), Islamabad is assigned look after charge of the post of Member (Accounting) FBR (Hq), Islamabad during the leave period of Khawaja Tanveer Ahmad (IRS/BS-21) w.e.f. 22-10-2013 to 11.11.2013. Read More »

FBR constitutes team to enhance monitoring of BTB activities

ISLAMABAD: FBR has constituted a five-member team to enhance coordination and monitoring of broadening of tax base (BTB) activities. Dr. Muhammad Iqbal, PA to FBR Chairman, will be team leader while four other members include Malik Amjad Zubair Tiwana Chief (Income Tax Policy), Imran Latif Minhas Secretary (Withholding Tax) FBR, Muhammad Khalid Jamil Secretary (Exemptions/Rules) FBR and Ijlal Khan Deputy ... Read More »

FBR asked to issue SRO on duty incentives to new entrants in motorcycle industry

ISLAMABAD: The Ministry of Industries and Production issued a reminder notice to the Federal Board of Revenue (FBR) to issue an SRO providing duty incentives to new entrants in motorcycle industry. Sources said as soon as the SRO is issued by FBR an agreement with Yamaha Motorcycle would be signed paving way for $150 million investment. The Economic Co-ordination Committee ... Read More »

FPCCI demands duty-free access to US markets

ISLAMABAD: Federation of Pakistan Chamber of Commerce and Industry demanded duty-free access of Pakistani products to the US markets for helping it offset the colossal economic loss during its war against terrorism. Pakistan economy has so far suffered more than one trillion dollars huge loss for last one decade in its continuing war on terror, said FPCCI Chief Zubair Ahmad ... Read More »

Dar seeks international investment in Pakistan

LONDON: Finance Minister Senator Ishaq Dar has invited the international financial community and investors to benefit from the vast opportunities available in Pakistan by highlighting the opportunities in the financial, energy, information technology sectors of Pakistan. He was speaking at an investment roundtable meeting of a select group of key investors in the international financial community organised by the Pakistan ... Read More »

Flaws in WeBOC: IT professionals to help out Customs

ISLAMABAD: The FBR has decided to appoint a team of Information Technology (IT) experts in Karachi to help the Customs officials in operating the automated system, Web Based One Customs (WeBOC), for eradicating faults in the customs clearance process at ports. Sources said that the Customs authorities have recently informed the Federal Board of Revenue that a body comprising senior ... Read More »

FBR sees no increase in smuggling of foreign currencies

ISLAMABAD: Federal Board of Revenue (FBR) Customs Intelligence Department has reported no significant increase in smuggling of foreign currencies during the last few weeks. Sources said that it is almost impossible to smuggle foreign currencies in big quantity owing to concurrent checking and monitoring by the customs staff and other agencies at airports. The FBR intelligence unit takes action against ... Read More »

Heavy foreign investment in Pakistan soon: Dar

WASHINGTON: Finance Minister Ishaq Dar has said that Pakistan is going to witness vigorous increase in foreign investment following a series of economic reforms and measures that have boosted confidence of international institutions and entrepreneurs. Senator Dar, whose hectic schedule at the annual IMF-World Bank gatherings includes around 50 meetings with experts, business leaders, bankers and chiefs of international financial ... Read More »

FBR extends tax filing date till Oct 23

ISLAMABAD: Federal Board of Revenue (FBR) has extended the date of payment of Sales Tax & FED and filing of Sales Tax/Federal Excise returns up to October 23. According to a notification issued on Monday, the FBR extended the date using powers conferred under section 74 of the Sales Tax Act, 1990 and section 43 of the Federal Excise Act, ... Read More »

Pakistan Customs launching WeBOC to deal with Afghan Transit Trade

ISLAMABAD: Pakistan’s Customs authorities have prepared a plan to launch automated clearance system, Web Based One Custom (WeBOC), for dealing with Afghan Transit Trade (ATT). In the 4th Afghanistan-Pakistan Transit Trade Coordination Authority (APTTCA) meeting concluded in Kabul, both sides decided to intensify efforts to enhance bilateral trade and facilitate the traders and businessmen of the two countries. The Pakistani ... Read More »

Transfers, postings in FBR

ISLAMABAD: The Federal Board of Revenue (FBR) has transferred and posted 13 officials of Pakistan Customs Service (Grade-17 to 18) with immediate effect. According to a notification, Raza (Pakistan Customs Service/BS-18), Additional Collector, (OPS) Model Customs Collectorate, Gwadar has been transferred and posted as Additional Collector, (OPS) Model Customs Collectorate, Quetta; Rizwan Basharat (Pakistan Customs Service/BS-18) from Deputy Director, Directorate ... Read More »

Zulfiqar Ali assumes charge as FBR Islamabad Chief

ISLAMABAD: Syed Zulfiqar Ali Shah Kazmi (PCS/BS-20) has assumed charge of the post of Chief, Federal Board of Revenue, Islamabad. Read More »

Ecnec okays 9 projects worth Rs43 billion

ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) has approved nine projects amounting to Rs42.92 billion in the energy, education, health, transport and communications, irrigation and water sectors. The ECNEC meeting was held under the Chairmanship of Finance Minister Senator Mohammad Ishaq Dar at the Prime Minister’s Office. Minister for Water and Power Khawaja Mohammad Asif, Minister for ... Read More »

Action against tax evading hotels kicked off

ISLAMABAD: Directorate General Intelligence & Investigation Inland Revenue (DGI&I IR) has started taking action against the hotels involved in sales tax evasion and federal excise duty (FED). In spite of being the luxurious and most expensive, some hotels and restaurants situated in the federal capital’s posh areas are paying minimal taxes and causing huge revenue loss to the exchequer. The ... Read More »

Dar for early resumption of Pak-India composite dialogue

ISLAMABAD: Finance Minister Mohammad Ishaq Dar said that Pakistan wanted good relations with India and an early resumption of composite dialogue process to address issues. “The government wants an early beginning of the composite dialogue process so that progress on all issues can be made between the two countries,” Dar said while talking to Indian High Commissioner Dr T C ... Read More »

Privatisation Programme discussed in CCoP meeting

ISLAMABAD: A meeting of the Cabinet Committee on Privatisation (CCoP) was held under the chairmanship of Senator Ishaq Dar, Minister for Finance, Revenue, Economic Affairs, Statistics and Privatisation at the Finance Minister’s office wherein the Privatisation Programme was discussed in detail. The Privatisation Commission furnished a list of entities for consideration of the CCoP. After thorough deliberations the Committee agreed ... Read More »