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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

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 »

Poverty alleviation first step towards prosperity: Hafeez Shaikh

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh has described development of human skills, working in partnerships and allowing the private sector to work at its full potential as the three key drivers of development and prosperity for any country or nation. “The big lesson of development history is the model presented by countries ... Read More »

FBR decides to initiate panel audit of sugar industry

ISLAMABAD: Federal Board of Revenue (FBR) initiate panel audit of sugar industry to improve Tax Compliance and Ensure Transparency in reporting mechanism, said Shabbar Zaidi. Timelines with reference to the ‘re-organization’ of FBR as given in October 3, 2019 letter of the reforms approved by PM shall be put on hold. The Federal Board of Revenue (FBR) Chairman Syed Shabbar ... Read More »

PM Imran directs FBR to restore investors’ confidence

ISLAMABAD: Prime Minister Imran Khan on Wednesday directed the Federal Board of Revenue (FBR) to restore investors’ confidence and take measures to end its fear among the business community, according to media. Addressing FBR officers, PM Imran said that the business community was ready to pay fix tax but reluctant to come under tax net. He noted that confidence of ... Read More »

PM Imran to get briefing by FBR officials today

ISLAMABAD: Prime Minister Imran Khan has summoned the officers of Federal Board of Revenue (FBR) to the PM Secretariat today. According to sources that PM Khan will get a briefing from FBR high-level officers over economic targets of the country. Moreover, the premier will also gain the confidence in the revenue body’s officers pertains to the reformations in FBR laws, ... Read More »

Govt to take FBR officers on board in reforms process: Shabbar Zaidi

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi on Wednesday said that the government has decided to take FBR officers on board in the reforms process, according to media. The FBR chairman took to Twitter saying, “I thank the honorable Prime Minister for talking to FBR staff at length and greatly humbled by explicit statement that reforms in ... Read More »

ECC hikes minimum support price for wheat to Rs 1350 per 40kg

ISLAMABAD: Economic Coordination Committee (ECC) of the cabinet has increased the minimum support price of wheat from the current Rs1300 per 40 kg to Rs1350 per 40 kg to safeguard the interest of the growers and ensure food security for the masses. The decision to raise the wheat price by Rs 50 per 40 kg was taken at a meeting ... Read More »

NAB closes inquiry against KPT

ISLAMABAD: The National Accountability Bureau (NAB) on Wednesday approved closure of inquiries against the Karachi Development Authority (KDA) and the Karachi Port Trust (KPT). NAB chairman retired Justice (r) Javed Iqbal presided over a meeting of the bureau’s executive board to review progress achieved in the mega corruption cases. The meeting further decided to continue an inquiry against former Sindh ... Read More »

FBR to engage private auditors to detect tax evasion in sugar industry

ISLAMABAD: Federal Board of Revenue (FBR) considering to engage private auditors to scrutinise books of sugar millers to catch tax cheats as they spotted a number of discrepancies in various production and supply cycles. According to sources, the Federal Board of Revenue (FBR) has advised the regional tax offices (RTOs) and large taxpayers units (LTUs) to conduct special audit of ... Read More »