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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

POL tests hydrocarbons from its well in Punjab

KARACHI: The Pakistan Oilfields Limited (POL), Operator of Pindori D&P Lease has tested hydrocarbons from its Development Well Pindori-10, located in district Rawalpindi, Punjab, said a notification issued by the company to the Pakistan Stock Exchange on Thursday. The notification further said: “We are pleased to inform that Pakistan Oilfields Limited (POL), Operator of Pindori D&P Lease has tested hydrocarbons ... Read More »

Maersk, UMA offices raided; CEO in hiding to evade arrest

KARACHI: Authorities raided offices of Maersk Lines and United Marines Agency (UMA) to arrest their high-ups but could not apprehend anyone from their premises. Sources said NAB authorities had raided offices of the UMA to arrest their high-ups in tax evasion and illegal demurrage and detention scam cases. These both above-mentioned companies are allegedly involved in multi-billion dollar corruption, tax ... Read More »

Customs Court extends remand of suspect booked in smuggling case

KARACHI: The Customs Court extended physical remand of suspect namely Ghulam Qadir son of Abdul Khaliq, and sent him to customs lock-up, who was nominated in a case of attempting to smuggle contraband goods. On 3 March 2020, investigation officer of Customs Preventive Anti-Smuggling Organization produced the above mentioned suspect and informed the court that on information, customs officials intercepted ... Read More »

Sindh govt to levy new tax on underground water usage

KARACHI: The government of Sindh decided to impose a new tax on the use of water in the province. A draft of law comprising recommendations for the proposed tax has been prepared and the officials of local government department will brief the members of the provincial cabinet over the upcoming Sindh Water Tax Act in a meeting. The draft of ... Read More »

SHC seeks reply on petition filed by M/s Selani & Selani against enhancement of valuation

KARACHI: The Sindh High Court (SHC) issued notices to the customs department on a petition filed by M/s Selani & Selani and M/s Azuan Natural against 100 percent enhancement of valuation of imported black pepper/ white pepper. On 3 March  2020, while the hearing of petition, a two-member bench, headed by Justice Aqeel Ahmed Abbasi also directing them to file ... Read More »

Sindh excise to start campaign for recovery of motor vehicle tax

KARACHI: Sindh Minister for Excise and Taxation & Narcotics Control and Parliamentary Affairs Mukesh Kumar Chawla has asked the officers to boost-up their efforts for the recovery of Government’s dues regarding motor vehicle tax from Government, Semi-Government, Autonomous Bodies and Organizations and no lethargic attitude will be tolerated in this regard. This he said while presiding over a meeting here ... Read More »

Fake ST refunds scam: FTO directs FBR to start proceedings against officials of RTO-II

KARACHI: Federal Tax Ombudsman (FTO) has ordered the Federal Board of Revenue (FBR) to start criminal proceedings against officials involved in processing bogus sales tax refunds. The FTO observed that failure of the Regional Tax Office (RTO)-II Karachi to initiate action against the persons/officials involved in registration of fake refund payment and retrieval of refund already issued prior to issuance ... Read More »

Mumtaz Khoso’s Customs Port Qasim surpasses revenue collection target for Feb

KARACHI: Collectorate of Customs Port Qasim has successfully surpassed monthly revenue collection target for February 2020. The Collectorate collected Rs56.825 billion as against the target of Rs49.184 billion, which is 15 percent of the assigned target and 27.27 higher than last year collection of February 2019. Collector Customs Mumtaz Ali Khoso has attributed this outstanding revenue collection performance of the ... Read More »

Economic conditions improved as compared to past: Reza Baqir

KARACHI: The State Bank of Pakistan Governor Dr. Reza Baqir said that the economic conditions are better in many areas as compared to the past. The country’s economy was not in strong position back then as the reserves and exchange rates were falling. Addressing as a chief guest at an event of English Speaking Union held at a local hotel, ... Read More »

SHC issues notices on petition filed by M/s TF Industries against enhancement of valuation

KARACHI: The Sindh High Court (SHC) issued notices to the customs department and deputy attorney general on constitutional petition filed by M/s TF Industries against enhancement of valuation of imported non-woven for diapers from $1.65 to $2.10 per kg. On 2 March  2020, a two-member bench, headed by Justice Aqeel Ahmed Abbasi was hearing the matter. During the hearing, counsel ... Read More »

SHC directs customs officials to act as per law on petition filed by M/s Deezina Textile

KARACHI: The Sindh High Court (SHC) directed customs officials to act strictly accordance with law on a petition filed by M/s Deezina Textile against lodging first information report (FIR) allegedly involvement in tax evasion case. On 2 March 2020, while the hearing of petition, a two-member bench, headed by Justice Aqeel Ahmed Abbasi also directing them to file their respective ... Read More »

‘Govt must take action against Maersk, QICT to provide relief to importers’

LAHORE: Government should take strict action against M/s Maersk Pakistan (Pvt) Ltd and DP World / Qasim International Container Terminal (QICT) and also probe the role of Habibullah Khan for allegedly looting worth 610 billion rupees from importers through collection of unlawful demurrage and detention charges from genuine importers. It was stated by Barrister Qadeer Ahmad while talking to Customs ... Read More »

Govt green-lights shipment of onion consignments declared prior to ban

KARACHI: Ministry of Commerce on Monday gave the go-ahead to shipment of onion consignments declared prior to the imposition of a ban on the export of the commodity. On Feb 28, the government imposed a ban on the export of onions until May 31 on a request by the Ministry of National Food Security and Research. “In compliance of directives ... Read More »

NAB Court endorses seizure of Asif Ali Zardari’s residence in Karachi

KARACHI: An accountability court has endorsed seizure of former president Asif Ali Zardari’s house, situated in Karachi’s area of Clifton. NAB after seizing Zardari’s house on February 12, had sought confirmation from the accountability court. NAB’s Investigation Officer Ahmed Saeed Wazir, appeared before the court for the hearing. The house was bought in 2014 and the payment was made through ... Read More »

M/s Hamza Waqar Enterprises moves SHC against enhancement of valuation

KARACHI: Shaikh Waqar Ahmed, Chief Executive Officer (CEO) of M/s Hamza Waqar Enterprises has moved the Sindh High Court (SHC) and filed a constitutional petition against enhancement of valuation of imported sodium lauryl ether sulfate 70 percent from Indonesia. On 29 February 29 2020, counsel for the petitioner stated that petitioner is engaged in lawful imported their respective consignments regularly ... Read More »

Customs Court seeks reply on acquittal petition filed by proprietor of M/s S. A Enterprises

KARACHI: The Customs Court issued notices to special prosecutor for customs department on an application for acquittal filed by Anjum Hafeez, Proprietor of M/s S. A Enterprises. On 28 February 2020, during the hearing, counsel for the accused stated that there is absolutely no evidence with the prosecution which could connect the applicant with the alleged crime, trail of applicant ... Read More »

SEPA advises PQA to ensure environmental compliance in unloading soybean cargo

KARACHI: Sindh Environmental Protection Agency (SEPA) has asked Port Qasim Authority (PQA) to ensure environmental compliance while unloading soybean cargo, officials said on Saturday. According to the details, n a letter addressed to PQA, the SEPA said that an incident was occurred on February 16, 2020 at Kemari and in the vicinity of Karachi Port Trust regarding deterioration of air ... Read More »

SHC seeks reply on petition filed by M/s Assher Trading

KARACHI: The Sindh High Court (SHC) issued notices to the customs officials and deputy attorney general directing them to file their comments on a constitutional petition filed by M/s Assher Trading Company against enhancement of value of imported comprising of coir-mattress fiber/ coir bristle fiber/ coir yarn 2 ply. On 28 February, 2020, a two-member bench, headed by Justice Aqeel ... Read More »

Customs Court issues warrants against directors of M/s Malik Brothers Logistics

KARACHI: The Customs Court issued bail-able warrants against suspects namely Muhammad Mansha and Karamat Ali, directors of M/s Malik Brothers Logistics, who were booked in another case of tax evasion and money laundering of Rs265,264,660. On 28 February 2020, during the hearing, investigation officer submitted first information report (FIR) against the above mentioned suspects and informed the court that during ... Read More »

Customs Appraisement East issues clarification of weather strip

KARACHI: Collectorate of Customs Appraisement East issued clarification of weather strip (tuft and strip composed of polypropylene). According to the details, M/s Eagle Clearing and Forwarding Agency has filed reference to Chief Collector (Appraisement) South, Karachi for clarification regarding weather strip. It is important to mention here that M/s United Trade Impex imported a consignment declared to contain weather strip ... Read More »