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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

Economic reforms of govt bearing fruit: PM Imran

ISLAMABAD: Prime Minister Imran Khan on Tuesday hailed the $99 million current account surplus posted in October — after a gap of more than four years — saying the country’s economy was finally heading in the right direction. “Pakistan economy finally heading in right direction as more of our economic reforms bear fruit: Pak’s current account turned into surplus in ... Read More »

Cabinet approves National Tariff Policy

ISLAMABAD: The federal cabinet on Tuesday approved the first-ever National Tariff Policy (NTP) with an aim to institutionalise the entire tariff structure of the country. “Although the Federal Board of Revenue (FBR) had earlier expressed concerns over the tariff policy drafted by the Ministry of Commerce, it did not object the draft during the cabinet meeting on Tuesday,” said an ... Read More »

Textile exports record 4.10pc growth, cross $4,586b mark

ISLAMABAD: Textile group exports from the country during first four months (July-October) of current financial year increased by 4.10 per cent as compared the exports of the corresponding period of the previous year. Meanwhile, textile sector exports witnessed about 7.44 per cent growth in month of October against the exports of same month of the last year, according the latest ... Read More »

Exports rose 9.6pc in October: Hafeez Shaikh

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh said on Tuesday the country’s exports registered a 9.6 per cent increase in October. “Exports of Goods & Services increased by 9.6% in Oct 2019,” he said in a tweet. “To provide easy working capital & funds for expansion, Govt & SBP will give additional Rs ... Read More »

Circular debt has come down by 53.1pc: Hafeez Shaikh

ISLAMABAD: Advisor to the Prime Minister on Finance & Revenue Dr. Hafeez Shaikh met with leading anchorpersons of electronic media and briefed them about the economic performance of the government in the first quarter of the current Fiscal Year-2019-20. The Advisor to the Prime Minister on Finance & Revenue informed them about the precarious economic situation left by the previous ... Read More »

FBR may earn confidence of expats through amendments in Income Tax Ordinance over remittances: FTO

ISLAMABAD: Taking measures in response to a plea of an overseas citizen of Pakistan seeking benefits of certain provision of Income Tax Ordinance 2001 regarding regularization of remittances sent through money transfer companies, Federal Ombudsman’s office said it is possible that Federal Board of Revenue (FBR) may earn the confidence of expats through recommending amendment in the law. According to ... Read More »

Pakistan Customs establishes anti-smuggling enforcement across country

ISLAMABAD:  After instructions of Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi, Customs Wing has issued instructions to all its field formations to verify the genuineness of all seized conveyances being used to transport smuggled goods through verification from Forensic Science Laboratory, registration database of Excise & Taxation Department and customs clearance documents. The field formations have been further ... Read More »

FBR seeks recommendations for promotion of 87 appraising officers as principal appraisers

ISLAMABAD: Federal Board of Revenue (FBR) sought recommendations from Departmental Promotion Committee (DPC) for promotion of 87 appraising officers (BS-16)  as principal appraisers. A notification issued in this regard read “a meeting of the DPC to consider the promotion cases of appraising officer (BS-16) against the vacant posts of principal appraiser is likely to be held in near future. All ... Read More »

Govt to form anti-smuggling squads comprising Pakistan Customs, LEAs to curb smuggling

ISLAMABAD: The government has decided to raise a set of highly technically equipped battalions of paramilitary forces and customs under a multi-billion-rupee multi-pronged Border Monitoring Initiative (BMI) to check cross-border smuggling, causing significant loss­es to the national economy. According to media, Prime Minister Imran Khan had already approved immediate recruitment of more than 2,000 officials, besides raising two additional battalions ... Read More »

Collector Adjudication declares confiscation of 26 Qatari vehicles as legal

ISLAMABAD: Collectorate of Customs Adjudication Collector upheld outright confiscation of 26 seized Qatari vehicles and ordered to recover Rs3845 million under the head of customs duty and taxes including plenty of Rs50 million to respondents. According to case details, during the month of September 2018, the Customs I&I (Intelligence and investigation) Islamabad recovered 26 NDP (non-duty paid) vehicles from the ... Read More »

Italy to invest 40m euros for youth development across Pakistan: Envoy

ISLAMABAD: Italian Ambassador to Pakistan Stefano Pontecorvo said that the Italian government planned on investing 40 million euros in Pakistan for the development of youth across the country. The ambassador was attending the inauguration ceremony in relation to a week-long Program for Poverty Reduction (PPR) in collaboration with the Italian Agency for Development Cooperation. “Sixty-five per cent of Pakistan’s population ... Read More »

China seeks stability in taxes & power tariff from Pakistan

ISLAMABAD: China has asked Pakistan to maintain stability in its taxes and power tariff while establishing a better regulated and more efficient power market for execution of CPEC projects. The Chinese side, through its official communication, also emphasised that “both sides shall enhance communication and coordination, analyse the impact of changing policies on CPEC projects”. According to media, official documents ... Read More »

Business-friendly changes made to curb under-invoicing: Shabbar Zaidi

ISLAMABAD: Federal Board of Revenue (FBR) chairman Shabbar Zaidi on Saturday said that the financial body has made substantial business-friendly changes in imports’ system to curb under-invoicing. Shabbar Zaidi said in his Twitter message that FBR has made substantial changes in ‘unit of measurement’ system and ‘Valuation Rulings’ with respect to the import of goods. He also suggested importers providing ... Read More »

FBR’s Benami Transactions (Prohibition) Zones file 15 references involving billions of rupees

ISLAMABAD: The Benami Transactions (Prohibition) Zones of the Federal Bureau of Revenue (FBR) have filed 15 references with adjudicating authority against ‘benamidars’ and beneficial owner over alleged involvement of billions of rupees in the shape of real estate and shares belonging to property tycoons, businessman and politicians. Sources familiar with the matter told the media that in the last four ... Read More »

FBR releases tutorial videos on income tax filing to facilitate taxpayers

ISLAMABAD: Federal Board of Revenue (FBR) has released tutorial videos on Income Tax Returns Filing to facilitate the taxpayers. According to the press statement issued here, Facilitation and Taxpayers Education Wing of FBR has prepared these videos, which have been uploaded on the Urdu and English version of its official website social media. The videos contain step by step easy ... Read More »

Foreign investment in govt securities surpasses $711m

ISLAMABAD: Foreign investment in government securities has exceeded $711 million since the beginning of the current fiscal year as the country saw an inflow of an unprecedented level on high interest rates and exchange rate stability. However, analysts say this reserve build-up process is choking growth. Foreign investment in treasury bills reached a new high of $267 million between November ... Read More »

Mother-in-law of senior journalist Mubarak Zaib Khan passes away

ISLAMABAD: Senior journalist, ex-president Rawalpindi-Islamabad Union of Journalists (RIUJ) and senior staff reporter of Daily Dawn Mubarak Zaib Khan’s mother-in-law passed away (inna lillah wa inna ilahi rajioon). Her Namaz-e-Janaza will be offered after Asr payers at Street No. 50, Margalla Town, Phase-2, Islamabad (today). Large number of journalist community of twin cities and members of Islamabad and Rawalpindi Union ... Read More »

ADB seeks comprehensive policy for logistics industry

ISLAMABAD: The Asian Development Bank, in a report measuring and evaluating facilitation of trade along the Central Asia Regional Economic Cooperation (Carec) nations, identified major inefficiencies in Pakistan’s border trade costs and procedures. The ADB’s Carec corridor performance report pointed out that the dwell time in Karachi seaports averaged five to seven days for containerised goods bound for Afghanistan, with ... Read More »

CCoP okays privatization of SME Bank, PIA Investment Limited

ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) in its meeting held with Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Friday, did not agree to the proposal from EERA for delisting of its 17 properties from the 32 assets being processed for sale by Privatisation Commission and also directed expediting the pace of work on ... Read More »

WeBOC Glow, National Single Window major achievements of Pakistan Customs: Jawwad Agha

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi presided over a seminar on the Pakistan Customs Strategic Plan 2019-2024 here at Customs House. The seminar was organized by the Customs Collectorate in collaboration with the Directorate General Training & Research (Customs), Regional Office Islamabad. The purpose of the seminar was to apprise the officers of Pakistan Customs working in ... Read More »