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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

FBR finalizes draft to provide relief to developers & builders

ISLAMABAD: In a bid to provide relief and support to developers and builders industry, the Federal Board of Revenue (FBR) has finalized a draft for income tax special procedure rules. According to the draft, income computed and tax payable thereon will be on project-by-project basis under the head Income from Business. According to the proposal, rate of tax on builders ... Read More »

FBR seeks import documents from 45 big retailers of Karachi

ISLAMABAD: The Federal Board of Revenue (FBR) directed 45 big retailers to furnish documents of proof related to imported goods on sale at their stores after ongoing anti-smuggling surveys. The sources said FBR issued notices to at least 45 retailers, seeking verification of customs clearance against the imported goods. Regional Tax Office (RTO)-II, Karachi issued the notices in its ongoing ... Read More »

Issues of businessmen would be solved in one month: Hammad Azhar

ISLAMABAD: Federal Minister Hammad Azhar said capital gain tax would not be abolished but its rate would be reduced. He said fixed tax scheme would be easy for public. Talking exclusively in Dunya News program ‘Dunya Kamran Khan Kay Sath ,‘ he said we want to work under the ambit of law. He said government would solve gas and electricity ... Read More »

FBR imposes major penalty on senior auditor for holding dual nationality

ISLAMABAD: Federal Board of Revenue (FBR) has imposed major penalty of ‘compulsory retirement’ upon a senior auditor for obtaining citizenship of another country and for visiting abroad by concealing facts of his government job. The FBR on Friday said that the inquiry proceedings were initiated against Tahir Gul, Senior Auditor (BS-16), RTO Islamabad on the directions of the Federal Services ... Read More »

GRASP comes at appropriate time with finalization of SME Policy: Razak Dawood

ISLAMABAD: Advisor to Prime Minister for Commerce Abdul Razak Dawood said the Growth for Rural Advancement and Sustainable Progress (GRASP) had come at the most appropriate time when Pakistan was geared toward finalization of SME Policy. Speaking to the participants of first stakeholders’ consultation for GRASP, the Advisor said that the Small and Medium Enterprises (SMEs) make up the bulk ... Read More »

FBR transfers 14 inspectors & 1 IO of BS-16 with immediate effect

ISLAMABAD: Federal Board of Revenue (FBR) issued notification for transfers of following inspectors of BS-16 of customs department with immediate effect and until further orders:- Details are as under: Inspector Syed Zeeshan Haider is transferred from Appraisement Lahore to Collectorate of Customs Preventive Multan. Inspector Farhan Aziz Tarar is transferred from Appraisement Lahore to Collectorate of Customs Sialkot. Inspector Sidra ... Read More »

Top businessmen meet COAS Gen Bajwa at Army House

RAWALPINDI: Top business leaders of the country called on Chief of Army Staff (COAS) General Qamar Javed Bajwa on Wednesday night to convey their serious concerns about Pakistan’s stagnating economy. According to sources, the businessmen met General Bajwa at a dinner reception at the Army House in Rawalpindi. The main concern for the businessmen was that the government does not ... Read More »

PM Imran vows to address businessmen reservations

ISLAMABAD: Prime Minister Imran Khan said on Thursday that the development of the country was interlinked with the state’s economy and the government was committed to provide all possible facilities to businessmen for conducting profitable activities. While talking to a delegation of the Chamber of Commerce and Industry in Islamabad, he said that a strong partnership between the government and ... Read More »

Senate committee to review economic challenges, remedial measures

ISLAMABAD: The Senate Standing Committee on Commerce and Textile Industry has taken notice of the prevailing economic situation and summoned a meeting today (October 3rd) to hammer out issues of the business community necessary for rapid economic development. The meeting summoned by the Chairman of the Committee Senator Mirza Muhammad Afridi will be attended by top government functionaries and representatives ... Read More »

FBR imposes penalty of “compulsory retirement” on Inspector Mansab Shah

ISLAMABAD: Federal Board of Revenue (FBR) has imposed major penalty of ‘compulsory retirement’ upon a BS-16 officials of Pakistan Customs Service (PCS) on charges of corruption, misconduct and inefficiency. According to an official note issued on Thursday the FBR said that disciplinary proceedings under Government Servants (Efficiency & Discipline) Rules, 1973 were initiated against Mansab Shah, Inspector (BS-16), Model Customs ... Read More »

Govt rebuts news report regarding rate hikes, rupee fall having serious social impact

ISLAMABAD: In response to an article, titled “Rate hikes, rupee fall to have serious social impact” published in Express Tribune dated September 16, 2019, it is to be noted that the writer has exaggerated the cost of stabilization under the IMF program while ignoring the anticipated positive impact of the same. The article suggests that increase in key policy rate ... Read More »

Gwadar Port will be used as transit facility for China-Afghanistan trade: FBR

ISLAMABAD: The federal government has achieved a milestone by taking another step for enhancing regional trade which would link Pakistan, China and Afghanistan for continuing the commercial exchange, according to media. The spokesperson of the Federal Board of Revenue said in a statement that a road map has been prepared by maritime, FBR and ports and shipping for cargo handling ... Read More »

FBR to approach foreign exchange companies to trace ‘hoarders”

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to approach foreign exchange companies about transactional details of individuals to trace ‘hoarders’ and bring them into the tax net. According to media, FBR would launch a major crackdown in this regard and obtain information from foreign exchange companies regarding individuals who purchased the foreign currency during the past few months. The ... Read More »

FBR gets a separate category in the citizen’s portal app

ISLAMABAD: Upon the directives of the Prime Minister of Pakistan, Imran Khan a separate category added to ‘citizen’s portal’ application, according to media on Wednesday. Federal Board of Revenue (FBR) had made a formal request for their category to appear in the mobile and computer application. With the new feature, people will be able to register their complaints directly to ... Read More »

ECC okays Rs0.30 per unit hike in power tariff

ISLAMABAD:Economic Coordination Committee (ECC) has approved a proposal to increase electricity prices by 30 paisa per unit. New prices would be implemented on users with units greater than 300. The meeting of ECC was held in Islamabad with Advisor to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh in the chair. The ECC approved a proposal submitted by the ... Read More »

ECNEC gives nod to multi-billion highways & infrastructure projects in power sector

ISLAMABAD: Executive Committee of the National Economic Council (ECNEC) has approved separate projects, including construction of 21-km long dedicated Yellow Bus Rapid Transit-BRT Corridor linking Landhi to Numaish, 47.55km Peshawar-Torkham Motorway Project and interlinking of 220 kV Daharki, Rahim Yar Khan, Bahawalpur and Chishtian Grid Stations for improvement of power supply system in southern areas. The decisions were taken in ... Read More »

Condition of CNIC for purchase of over Rs50,000 could be relaxed for one month: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi here on Tuesday said that the government was ready to accept all valid demands of the traders, according to media. Talking to journalists, Shabbar Zaidi said that the condition of Computer National Identity Card (CNIC) for purchase of over Rs50,000 could be relaxed for one month. He further said ... Read More »

FBR decides to install machines at mega retail stores, malls to monitor sales

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to issue new rules for bringing mega retailers outlets and shopping malls into registration through point of sale system. According to media, the computerised machines will be installed at mega retail stores and shopping malls that will be-linked with the FBR system in order to avoid tax evasion worth billions of ... Read More »

FBR collects Rs960b during 1Q: Chairman Shabbar Zaidi

ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs960 billion in the first quarter of current fiscal year 2019/2020, which is about 90 percent of the target for the quarter, Syed Shabbar Zaidi, Chairman, FBR said on Monday. In a message on social media, he said that tax collection up to 90 percent of highly aggressive target for quarter ... Read More »

FBR to bring 5 million people under tax net in next two years

ISLAMABAD : Federal Board of Revenue (FBR) is committed to provide the best modernize service through its help line system in a free, fast and reliable mode. The success of FBR Helpline can be gauged from the fact that number of tax return filers increased to 2.6 million from 1.9 million in one year which is expected to be increased ... Read More »

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