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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

Trade deficit falls by 33.5pc during July-Oct of FY19-20

ISLAMABAD: Over the first four months of fiscal year 2019-20, the country’s trade deficit decreased significantly by 33.5 per cent, a report by the Ministry of Commerce revealed on Saturday. Trade deficit fell from $11.7 billion recorded from July-October of FY18-19 to $7.8bn during the same period this year. The decrease in trade deficit can largely be attributed to a ... Read More »

Power Division gives support to FBR for implementation of Section 181AA of Income Tax Ordinance

ISLAMABAD: The Ministry of Energy has reinforced the Federal Bureau of Revenue’s (FBR) position to not provide commercial or industrial connection of electricity or gas to anyone unless the person is registered under Section 181AA of Income Tax Ordinance-2001. In a tweet, FBR Chairman Shabbar Zaidi presented the letter which he received from the Power Division while stating “Ministry of ... Read More »

FBR collects Rs320b during October 2019

ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs320 billion in taxes during the month of October, a 16 per cent increase in revenue collection when compared to the corresponding period of last year, said Chairman Syed Shabbar Zaidi. Taking to the micro-blogging site Twitter, he said: “Alhumdullilah, FBR has collected Rs 320 billion during the month October 2019 and ... Read More »

WB president appreciates Pakistan’s reforms to attract investment generate tax

ISLAMABAD: World Bank Group President David R. Malpass said the reforms carried out by Pakistan for ease of doing business would help create jobs, attract investment and generate more tax revenue. Malpass acknowledged the efforts taken by the government to improve its ranking on the Ease of Doing Business index. “Your country jumped to 108th place from 136th last year. ... Read More »

Federal & provincial govts are in contact to improve taxation, fiscal management: Hafeez Shaikh

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh has said the federal and the provincial governments are in a continuous dialogue to improve coordination and create harmony on issues related to fiscal and budget management, multiplicity of tax rates and reconciliation of input adjustment. He made this observation while chairing a meeting at the ... Read More »

Pakistan earns $61.8m from export of transport services

ISLAMABAD: Pakistan earned $61.850 million by providing different transport services in various countries during the first two months of current financial year (2019-20) as compared to the corresponding period of last year. This shows increase of 24.60 percent as compared to $49.003 million earned through provision of services during the corresponding period of fiscal year (2018-19), Pakistan Bureau of Statistics ... Read More »

Footwear exports surge 26pc in 1Q of FY2019-20

ISLAMABAD: Footwear exports from the country witnessed an increase of 26.3pc during the first quarter of the current financial year (1QFY20), as compared to the corresponding period of last year. Pakistan exported footwear worth $37.062 million during July-September FY20 against the exports of $29.344 million during the same period of last fiscal, according to latest data released by the Pakistan ... Read More »

FBR extends date of filing of IT returns for tax year 2019

ISLAMABAD: Federal Board of Revenue (FBR) issued Circular No. 15/2019 dated October 31, 2019 for extension in date of filing of income tax returns. The circular issued by FBR read “in exercise of the powers of conferred under Section 214-A of the Income Tax Ordinance, 2001, the Federal Board of Revenue is pleased to extend the date of filing of ... Read More »

FBR publishes statistics on market tax filers

ISLAMABAD: The Federal Board of Revenue (FBR) has published statistics on market tax filers on Wednesday, according to which in Karachi markets around 85000 have been registered as filers at Tariq Road, Goli Mar, DHA, Gulistan Johar and Clifton. The tax collection from these registered filers is around Rs30 billion. Of this, 18744 are big taxpayers who paid Rs29.94 billion. ... Read More »

IPR seizes huge consignment of dry battery cells of Tonosheba: Dr. Arslan Subuctageen

ISLAMABAD: Directorate-General Intellectual Property Rights (IPR) Director-General Dr. Arslan Subuctageen said that on information of Customs Dry port Peshawar the IPR Enforcement seized huge consignment of contraband dry battery cells of Tonosheba brand which is deceptively similar to the registered trade mark of Toshiba Japan. According to details, an information of copyright violation was received by Peshawar Dry Port that huge ... Read More »

Traders call off country-wide strike after successful talks with govt

ISLAMABAD/KARACHI: Traders protesting against the government’s harsh taxation measures decided to call off their protest after successful talks with the government on Wednesday. The traders decided call off the country-wide protests after the Federal Board of Revenue (FBR) agreed on eleven points regarding taxation on businesses in the country. According to Chairman All Pakistan Anjuman-e-Tajiran (APAT) Ajmal Baloch the following ... Read More »

Hafeez Shaikh chairs meeting to discuss outstanding dues of IPPs, issuance of Sukuk & Swap bonds

ISLAMABAD:Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Thursday chaired a meeting which was held to discuss the outstanding payments of Independent Power Producers (IPPs). The meeting which was also attended by the Governor State Bank of Pakistan, Secretary Finance, Special Secretary Finance and Additional Secretary Ministry of Finance also discussed the issuance of Sukuk and ... Read More »

Pakistan to benefit from Chinese expertise in agriculture sector: President Alvi

ISLAMABAD: President Dr Arif Alvi said that Pakistan will adopt modern agricultural techniques with the support of China to improve agriculture sector. Addressing Pak-China Agricultural Cooperation Forum, President Alvi said, “We need to learn the techniques of efficient use of water in agriculture sector from China.” The president said with the active interest of farmers’ community joint research can be ... Read More »

ASO seizes goods worth Rs416m during 1Q of 2019-20

ISLAMABAD: Customs Preventive will continue anti-smuggling drive against smugglers and tax evaders under directions of Collector Customs Seema Raza Bokhari. Assistant Collector ASO Fahad Khan told Customs Today that ASO Islamabad showed growth of 207 percent during first quarter (July to September) FY 2019-20 against the same corresponding period, adding that Customs ASO Islamabad adopted new technology to curb smuggling ... Read More »

ECC directs to resolve issue of outstanding payments of Port Qasim Authority

ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has given a go-ahead for release of 650,000 tonnes of wheat from PASSCO stocks to the provincial governments of Khyber Pakhtunkhwa (KP), Sindh and Balochistan to ease out the demand and supply equilibrium in the local market. Taking up other agenda items, the ECC also considered two separate proposals submitted by the ... Read More »

Pak envoy to UN Munir Akram calls on APM Hafeez Shaikh

ISLAMABAD: Pakistan Ambassador to United Nations Munir Akram held a meeting with Prime Minister’s Advisor on Revenue and Finance Dr. Abdul Hafeez Shaikh. During the meeting with Munir Akram, APM Hafeez Shaikh apprised him about the economic measures taken by current government for strengthening Pakistan’s economy and its positive results which are bearing fruit. He told that during first quarter ... Read More »

FBR issues alert as smuggled vehicles may take advantage of political march

ISLAMABAD: Federal Board of Revenue (FBR) on Monday issued alert that some unscrupulous persons may transport smuggled vehicles taking advantage of rally stage by a political party. The FBR in a statement directed field formation of Pakistan Customs to remain vigilant as the revenue body had received information that some unscrupulous elements would take advantage of ongoing march by JUI-F ... Read More »

Pakistan implementing IMF programme in letter & spirit: APM Abdul Hafeez Shaikh

ISLAMABAD: Adviser to Prime Minister on Finance & Revenue Dr. Abdul Hafeez Shaikh has said the government is focused on implementation of the IMF programme. “The containment of current and fiscal deficits and stabilisation of exchange rate are indicative of the success of government efforts to put the economy on the long-term growth track,” he said while talking to the ... Read More »

APM Hafeez Shaikh directs to clear refund claims of textile exporters

ISLAMABAD: A delegation of textile exporters held a meeting with Prime Minister’s Adviser on Revenue and Finance Dr. Abdul Hafeez Shaikh here today. During the meeting Adviser to Prime Minister on Commerce and Textile Abdul Razak Dawood, Federal Board of Revenue (FBR) Chairman Shabbar Zaidi and Secretary Finance Naveed Kamran Baloch and Special Secretary Finance Umer Hameed Khan were also ... Read More »

FBR prohibits its officials from personal interaction with businessmen

ISLAMABAD: In order to build confidence level of taxpayers, the Federal Board of Revenue on Monday prohibited its official from personal interaction with businessmen. In a communiqué, FBR chairman Shabbar Zaidi directed that no official of the tax collecting body will contact with any taxpayer or businessman in any form except when legally authorized to do so. This policy will ... Read More »