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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

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 »

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 »

7 PCS officers promoted to BS-19

ISLAMABAD: The seven BS-18 officers of Pakistan Customs Service are temporarily promoted to BS-19 against DTL vacancies subject to reversion to lower post upon joining of original incumbents of the posts with immediate effect. The officers including Sanaullah Abro, Nyma Batool, Farrukh Sajjad, Moin-ud-Din Ahmad Wani, Nadeem Ahsan, Ziaullah Shams and Agha Saeed Ahmed will actualise their promotion from the ... Read More »

FBR notifies e-filing of tax returns

ISLAMABAD: The FBR has notified the return forms for filing of income tax returns by company, AOPs and individuals. All the forms can be downloaded from FBR’s website by visiting https://fbr.gov.pk. Electronic filing of income tax returns is mandatory for companies and AOPs. Moreover, all individuals registered for sales tax, drawing salary income of Rs500,000 and more and all refund ... Read More »

New tax concessions await final nod

ISLAMABAD: Federal Board of Revenue (FBR) is going to get approved newly-drafted Statutory Regulatory Orders (SROs) by Finance Minister Ishaq Dar for new tax concessions and reduction in tax rates. The sources said that FBR drafted the SROs after endorsement of Karachi-based business community and Ministry of Finance. However, FBR will issue the required notifications after getting final nod from ... Read More »

FBR plans income tax return filers to be increased by 20pc

ISLAMABAD: With envisaged target to increase number of return filers by 20 percent for this ongoing financial year, FBR has kick-started countrywide campaign in Large Taxpayer Units (LTUs) and Regional Taxpayers Offices (RTOs) for educating the taxpayers to broaden its narrowed tax base. “Yes, we will make efforts to increase number of return filers by at least 20 percent during ... Read More »

FBR collects Rs465b in Q1, misses target by Rs27b

ISLAMABAD: Amid allegations of blocking taxpayer refunds to paint a rosy picture of revenues, the federal tax authorities have collected Rs465 billion in taxes in the first quarter of the current fiscal year, missing the target by Rs27 billion which can disturb quarterly budgetary ceilings agreed with the International Monetary Fund (IMF). As efforts were under way to make maximum ... Read More »

Bid to smuggle 9.250kg heroin to UK foiled at Islamabad Airport

ISLAMABAD: Anti Narcotics Force (ANF) in two different cases has recovered 9.250-kilogram heroin by two British-Pakistani Nationals at Islamabad International Airport. In first case, ANF Airport team arrested a passenger Kamran Ghafoor, resident of Tehsil Gojar Khan and recovered 8kg heroin concealed in his bag. He was to travel by Emirates Airlines Flight No EK-615 from Rawalpindi to London (finally ... Read More »

IHC issues show cause notice to finance secretary

ISLAMABAD: Islamabad High Court (IHC) has issued a show cause notice to the finance secretary and summoned him on October 9. The court has asked the finance secretary to explain as to why a contempt of court proceeding should not be started against him for the non-issuance of notification relating to the 20 per cent allowance given to all the ... Read More »

Collectorate of Customs Gwadar seizes large consignment of narcotics

GWADAR: The Collectorate of Customs Gwadar’s KhurKhera check post seized a large consignment of narcotics (charas) worth millions of rupees in the early hours of September 28 from a truck transporting goods from Quetta to Karachi on RCD Highway. These contrabands were kept in secret cavities of the truck especially created for this purpose. The driver has also been arrested ... Read More »

DG MIS re-designated as Member IT at FBR

ISLAMABAD: In partial modification of Board’s letter No 3(2)SSM/2012(07)15441 dated 10.01.2012, the post of Director General (MIS) FBR (Hq) Islamabad is re-designated as Member (IT) FBR (Hq) Islamabad with immediate effect and until further orders. This notification is issued with the approval of Competent Authority. 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 »

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