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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

Pakistan & ADB ink $200m additional financing accord for social protection

ISLAMABAD: Minister for Economic Affairs Muhammad Hammad Azhar witnessed the loan signing of additional financing for social protection development project amounting to $200 million between the Government of Pakistan and the Asian Development Bank. The loan agreement was signed by Secretary Economic Affairs Division Noor Ahmed and Ms. Xiaohong Yang, Country Director, Asian Development Bank (ADB) and Project Agreement was ... Read More »

 FBR launches revised version of ‘Tax Asaan’ mobile app

ISLAMABAD: The Federal Board of Revenue (FBR) launched a comprehensive revised version of its ‘Tax Asaan’ app for filing of salaried and non-salaried returns along with a facility of e-registration for new taxpayers. The app has been operational since Sept 16 but its scope was limited to the salary income of an individual. The revised version is now covering all ... Read More »

AEDB approves renewable energy policy draft after consensus

ISLAMABAD: The Alternative Energy Development Board in its 46th Meeting under the chairmanship of Federal Minister for Power Omar Ayub Khan has approved the draft ARE Policy 2019 on the basis of consensus of all members. The AEDB Board deliberated upon the draft ARE Policy 2019, that was prepared by AEDB in consultation with public and private sector stakeholders including ... Read More »

FBR allows voluntary retirement to Principal Appraiser Mian Khurram Munir

ISLAMABAD: Federal Board of Revenue (FBR) Secretary (Mgt Customs-III) Qasim Khan Khattak has issued notification allowing voluntary retirement to Principal Appraiser Mian Khurram Munir. The notification stated that on completion of 34 year service, the Competent Authority is please to allow voluntary retirement from government service to Principal Appraiser (BS-16) of Collectorate of Customs Allama Iqbal International Airport (AIIA), Lahore ... Read More »

Pakistan, Germany sign technical cooperation agreement

ISLAMABAD: Pakistan and Germany on Thursday signed an agreement for technical assistance under the Pakistan-Germany Development Programme worth 23.4 million Euro (PKR 3.9 billion). Federal Minister for Economic Affairs Hammad Azhar witnessed the signing ceremony of the Technical Cooperation Agreement with the Government of Federal Republic of Germany. Economic Affairs Division Secretary Noor Ahmed and Ambassador of Germany to Pakistan ... Read More »

Owners of Benami accounts have to face dire consequences: FBR

ISLAMABAD: The FBR has warned of having dire consequence for the beneficial owners of accounts and also for those maintaining such accounts under the Benami law. After refusal of Pakistan Banking Association (PBA) for updating Know Your Customer (KYC) requirements on account of beneficial owner in the light of Benami law, According to a letter written to the secretary PBA, ... Read More »

ADB to provide $2.7b in approved financing to Pakistan in 2019

ISLAMABAD: Taking to the social networking website Twitter, the international development finance institution, Asian development bank (ADB) announced the provision of $2.7 billion in approved financing to Pakistan in 2019, according to media on Wednesday. Foreign investors’ confidence over the economy of the country was restored to a large extent after approval of a bailout package by the International Monetary ... Read More »

2nd phase of FTA with China to bring more trade, investment opportunities

ISLAMABAD: The leaders of Pakistan and China on Tuesday agreed that the implementation of the 2nd phase of China-Pakistan Free Trade Agreement (FTA) would lead to more trade, economic and investment opportunities between the two countries. Other areas of potential collaboration discussed between the two sides included railways, steel, oil and gas, industry and science & technology. Prime Minister Imran ... Read More »

FBR chairman appreciates services of Member Admin Shad Muhammad

ISLAMABAD: Federal Board of Revenue appreciated the services of Member Administration Shad Muhammad. Sources told Customs Today that during the Board-in-Council meeting Federal Board of Revenue (FBR) has acknowledged and appreciated the services of retiring Member Administration Shad Muhammad . All the members of FBR attended the meeting and paid tributes to the services of retiring officer. Chairman FBR Syed Muhammad ... Read More »

Potential investors of China show keen interest to invest in Pakistan

BEIJING: China Gezhouba Group Corporation Chairman Lyu Zexiang on Tuesday called on Prime Minister Imran Khan in Beijing and expressed keen interest for investment in the energy sector of Pakistan. Mr Zexiang also expressed interest in exploring new business avenues in Pakistan. China Gezhouba Group Corporation (CGGC) is one of the most competitive listed companies with very strong financing capabilities. ... Read More »

FBR issues notices to 134,848 high net-worth individuals

ISLAMABAD: The Federal Board of Revenue (FBR) has issued as many as 134,848 notices to high net-worth individuals across the country in order to persuade them to e-file income tax return for 2019. According to sources, these notices were issued to unregistered individuals by the respective dedicated zones of the Broadening of Tax Base (BTB) created at Regional Tax Office ... Read More »

Pakistan to establish ‘Real Estate Regulatory Authority’ for curbing black money

ISLAMABAD: Pakistan has effectively complied with another strong condition put forward by the Asia Pacific Group (APG) – a regional affiliate of the Financial Action Task Force (FATF) – as the state has prepared to implement measures for curbing black money in the real estate sector, according to media on Tuesday. Sources familiar with the matter told the media that ... Read More »

Tax reforms bearing fruit: FBR Chairman Shabbar Zaidi

ISLAMABAD: The government’s reforms to mobilise tax revenue are bearing fruit, says Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi. Speaking to Pakistan Tehreek-i-Insaf (PTI) vice president Zahid Kazmi, he said the FBR succeeded in achieving 90 per cent of tax collection target for the first quarter of the ongoing fiscal year as Rs920 billion were collected in taxes ... Read More »

Flight of $6b annually is serious issue: FBR chairman

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi said inconsistency in economic policies was more serious issue than any external threat to investment environment. Addressing at a discussion forum titled Raabta on ‘Enterprising Peace – Regional Stability for Economic Prosperity’ Zaidi said: “The first thing we have to establish in Pakistan is consistency and stability in our system ... Read More »

FBR to handle businessmen tax-related cases: NAB chief Javed Iqbal

ISLAMABAD: National Accountability Bureau (NAB) Chairman Justice (r) Javed Iqbal said that the business community’s income and sales tax-related cases would be referred to the Federal Bureau of Revenue (FBR). Speaking at the NAB Headquarters, he said that the accountability watchdog would not take suo motu action against bank defaulters; rather the same would be referred to the banking courts ... Read More »

PM Imran decides to hand over Pakistan Steel Mills to China

ISLAMABAD: China and Russia have offered to revive multi billions Pakistan Steel Mills as its companies have expressed keen interest to make investments worth billions in Pakistan Steel Mills. *Prime Minister Imran Khan was apprised of the Chinese and Russian companies offer during a high-level session to discuss the steps for the revival of the state-owned Pakistan Steel Mills. The ... Read More »

Pakistan largely complied with 36 of 40 FATF parameters: APG report

SYDNEY/PARIS: The Asia/Pacific Group on Money Laundering (APG) published its report on money-laundering and terror-financing in Pakistan, a week before its Paris-based G7 counterpart, the Financial Action Task Force (FATF), is set to announce its decision to remove or retain Islamabad in its grey list. The long-awaited 228-page report, titled “Mutual Evaluation Report 2019,” would provide a basis for the ... Read More »

Customs North Region showing outstanding performance to curb smuggling attempts, generate revenue: Dr. Asif Jah

ISLAMABAD: Chief Collector North Dr. Asif Mehmood Jah has said that the Customs Region (North) performed exceptionally well regarding enforcement and anti-smuggling activities despite severe constraints of logistics and personnel to cover the vast jurisdiction comprising almost three provinces. Talking with Customs Today during an exclusive interview, Chief Collector North Asif Mehmood Jah has said that a comprehensive strategy has been ... Read More »

FBR to install Point of Sales Invoicing in big private hospitals 

ISLAMABAD: Federal Board of Revenue Chairman Shabbar Zaidi on Saturday said that the FBR is considering to install Point of Sales invoicing system in all big private hospitals and medical centres. Zaidi in his tweet said “FBR is seriously considering to install Point of Sales invoicing system in all ‘big private hospitals and medical centres’. A campaign for the same ... Read More »

FBR transfers 24 customs officers including Abdul Rashid Sheikh, Azmat Tahira, Ashraf Ali

ISLAMABAD: Federal Board of Revenue (FBR) on Friday in a major reshuffle transferred and posted 24 officers of Pakistan Customs Service (PCS) from BS-17 to BS-21 with immediate effect and until further orders. Details are as under:- Abdul Rashid Sheikh (Pakistan Customs Service/BS-21) has been transferred and posted as Director General, Directorate General of Post Clearance Audit & Internal Audit, ... Read More »