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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

Around $120b illegally transferred to overseas: FBR Chairman Shabbar Zaidi

KARACHI: Chairman Federal Board of Revenue (FBR) Shabbar Zaidi on Wednesday said that the time has come for us now to stand on our feet, according to private media. The FBR chairman was talking to newsmen after addressing convention of the Management Association of Pakistan (MAP) in Karachi. Zaidi said that the work has started now in an organized manner ... Read More »

Appraisement West files appeal against M/s U-Trade Logistics Pvt Ltd in SHC

KARACHI: The Collector of Customs through Additional Collector of Customs (Law) Appraisement West filed special customs reference before the Sindh High Court (SHC) challenging impugned order of appellate tribunal against M/s U-Trade Logistics Pvt Ltd. On August 27, 2019, counsel for applicant argued that the above mentioned importer imported a consignment declared to contain polyester shirting fabric from China and ... Read More »

Customs Court seeks final arguments on interim pre-arrest bail of MNA booked in tax evasion case

KARACHI: The Customs Court directed defense counsel to complete his final arguments for confirmation or otherwise an pre-arrest bail petition filed by suspect Aslam Khan allies Aslam Singapuri, sitting MNA 254 Karachi, booked in a case of mis-declaration and evading duty and taxes worth Rs28.57 million to the national exchequer. On August 27, 2019, counsel for the applicant and customs ... Read More »

Removal of Mustafa Kamal as Project Director Garbage challenged in SHC

KARACHI: Move of dismissing former mayor Karachi, Mustafa Kamal as Project Director Garbage on Wednesday has been challenged in the Sindh High Court (SHC). The applicant in his plea has stated that Kamal was appointed by Karachi Mayor Waseem Akhtar on August 26 and was removed from his post on very next day, without fulfilling the legal obligations. “The move ... Read More »

Customs Court seeks final arguments on pre-arrest & acquittal appeals in Q-Mobile smuggling case

KARACHI: Customs Court directed both sides’ counsels to complete their arguments on interim pre-arrest bail petitions under section 265K for acquittal filed by suspects namely Zeeshan Akhtar, Chief Executive Officer of M/s Digicom, Muhammad Ammad, admin manager of M/s Digicom Trading Pvt Ltd and others, who were booked in two different cases of attempting to smuggled assorted (Q-Mobile) mobile phones ... Read More »

Govt considering options to clear 1038 used cars imported in violation of rules

KARACHI: The government is working on different options to grant permission for clearance of 1,038 used cars imported in violation of the commerce ministry’s rules. The used cars currently stand parked at the country’s ports. The local auto industry is already facing numerous difficulties, as reportedly the car sales have witnessed almost 50 per cent decrease. After the commerce ministry ... Read More »

Appraisement East bars principal appraisers, appraisers making phone calls to clearing agents, importers

KARACHI: Collectorate of Customs Appraisement East Deputy Collector Headquarters Muhammad Arslan Majeed Rana issued circular restricting principal appraisers, appraisers to directly making phone calls to importers, clearing agents and traders. According to circular it has been noticed with utmost concern that the principal appraisers, appraisers make calls to clearing agents, importers and traders and even message them. Henceforth, all principal ... Read More »

Customs Court rejects interim pre-arrest bail of suspects in tax evasion case

KARACHI: The Customs Court rejected interim pre-arrest bail to suspects namely Muhammad Iqbal, proprietor of M.M Trading, Qaiser Abbas, clearing agent, Muhammad Idress, Muhammad Ali, Muhammad Ahsan and Muzammil in a case of evading duties and taxes to the tune of Rs74,036,216. After dismissal of interim pre-arrest bail, customs officials arrested all the above-mentioned suspects from out-side the court room. ... Read More »

Exports of textile articles up 3.16pc: SBP

KARACHI: The exports of textile articles from the country grew by 3.16 percent during the first month of current financial year 2019-20 as compared to the corresponding month of last year. During the month of July, 2019, the export of textile and its articles was recorded at $1233.636 million as against $1195.820 million exports recorded during the same month of ... Read More »

Thailand considering to increase imports from Pakistan: Consul-General

KARACHI: Consul General (CG) of Royal Thai Consulate in Karachi Thatree Chauvachata, has said that his country is keen to increase imports from Pakistan. In an informal interaction with media persons at his residence, he said that a two-way trade between Pakistan and Thailand during 2018 was approximately $1.674 billion and overwhelmingly in Bangkok’s favour. He Invited Pakistani businessmen to ... Read More »

Importers upset over collection of illegal demurrage, detention charges by Maersk, QICT: Mian Mahmood

MULTAN: Importers are upset on collection of demurrage and detention collection through blackmailing by M/s Maersk Pakistan (Pvt) Ltd and Qasim International Container Terminal (QICT). National Accountability Bureau (NAB) and Federal Investigation Agency (FIA) should take strict action against M/s Maersk Pakistan and QICT for collecting illegal demurrage and detention charges to address complaints of importers. Collection of exorbitant demurrage ... Read More »

M/s Asghar Enterprises approaches SHC challenging VR No 1386/2019

KARACHI: M/s Asghar Enterprises has filed a constitutional petition before the Sindh High Court (SHC) seeking restraining order against valuation ruling no 1386/2019. On August 24, 2019, counsel for the petitioner argued that the assessment of imported consignments of ball bearing and tapper roller bearing have been subject to in-filed valuation rulings since 2011, but since 2016 have been a ... Read More »

Customs Court awards jail term to suspects involved in tax evasion

KARACHI: The Customs Court awarded  imprisonment for five years to a suspect, fine Rs400,000 to 5 suspects and acquitted suspect  Muhammad Akhtar, who have submitted fake and fabricated E-Form due to which an amount of Rs37,67,75,114 was not remitted in the country despite the goods have been exported and resultantly evaded payment of withholding tax etc. On August 24, 2019, ... Read More »

Food imports decrease 19pc

KARACHI: The food group imports into the country dipped by 19.20pc in the first month of the current financial year (July-FY20) as compared to the corresponding month of last year. Food commodities worth $361.091 million were imported during the month under review, as compared to commodities worth $446.943 million imported during the same month of last year (July-FY18), according to ... Read More »

Exporters urge APM Hafeez Sheikh to review export-oriented ST refund policy

KARACHI: The exporters have requested Dr. Abdul Hafeez Sheikh Adviser to Prime Minister on Finance and Revenue to intervene for revision of sales tax refund policy for export-oriented sectors and create a dedicated head (Escrow Account) for refund claims to be monitored by a committee comprising Federal Board of Revenue (FBR) officials, audit firms and textile associations. In a communication ... Read More »

M/s Bilal Brother Industries files petition in SHC against detention of consignments

KARACHI: M/s Bilal Brother Industries has filed a petition before the Sindh High Court (SHC) seeking release order of imported consignments of polyester filament yarn seized by customs officials and assessing the duty and taxes on the basis of the Valuation Ruling No 1362/2019. On August 23, 2019, counsel for the petitioner argued in his petition that petitioner is sole ... Read More »

ADC Nyma Batool distributes work among deputy, assistant collectors

KARACHI: Collectorate of Appraisement East Additional Collector Nyma Batool has issued office order for distribution of work among deputy collectors and assistant collectors with immediate effect and until further orders: Read More »

DC warns action against agents for appearing in case hearings

KARACHI: Customs Adjudication deputy collector headquarters warned that during hearing of cases regarding self-basis filed GDs (good declaration) no clearing agent is allowed to appear according to customs laws. The notice further stated any agent who found involved in violation of such law, the case will be forwarded to competent authority for cancellation of his license. Read More »

Customs Court approves charge sheet against M/s Al-Aswed Associates & others

KARACHI: The Customs Court issued non bail-able warrants against absconding suspects namely Ihtishaam, Umair associates with M/s SHUFS Logistics, Rehan, Qurban and Adnan Associates with M/s NR Enterprises, who were booked in a case for evading duties and taxes to the tune of Rs74, 036, 216. On August 23, 2019, investigation officer submits interim charges sheet against Imran, owner of ... Read More »

Pakistan Oilfields Limited discovers hydrocarbons

KARACHI: Pakistan Oilfields Ltd (POL) in a notice to bourse said that hydrocarbons have been encountered in development well Makori Deep-02. The information was received from operator of the TAL block, Mol, which drilled the well and is currently testing it. The company further said that as a result of Drill Stem Test (DST) conducted to test the potential of ... Read More »