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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

DG Valuation revises customs values of water pumps, oil pumps, fuel pumps & air filters

KARACHI: Directorate-General Customs Valuation Director Shafiq Ahmad Latki has issued customs values of water pumps, oil pumps, fuel pumps, oil filters, fuel filters and air filters (replacement auto parts) vide Valuation Ruling No 1402 dated 30.10.2019.   Read More »

Customs values of cam shaft, crank shaft, spark plugs, lamps light lenses, sealed beam & rubber parts (replace auto parts) revised

KARACHI: Directorate-General of Customs Valuation Director Shafiq Ahmad Latki has revised customs values of cam shaft, crank shaft, spark plugs, lamps light lenses, sealed beam and rubber parts (replacement auto parts) vide Valuation Ruling No. 1401/2019. Read More »

DG Valuation revises customs values of transmission group, brake assembly, steering & suspension & body parts group

KARACHI: Directorate-General of Customs Valuation Director Shafiq Ahmad Latki has issued customs values of transmission group, brake assembly, steering and suspension and body parts group (replacement auto parts) vide Valuation Ruling No. 1403/2019. Read More »

Director NAB IW-1 M. Tahir lands Asif Haroon in jail for 6 years  

HYDERABAD: In an important development, an Accountability Court (AC) of Hyderabad has announced its verdict on a reference filed by NAB IW-1 Karachi and awarded jail term of six years to accused Asif Haroon Memon son of Haji Muhammad Haroon Memon ex-administrator of Hyderabad Development Authority. Director NAB IW-1 Karachi Muhamamd Tahir has been pursuing the case by assigning this ... Read More »

Clearing agents of M/s Ali & Co move SHC against filing of FIR

KARACHI: Clearing agents of M/s Ali & Co and others again moved the Sindh High Court (SHC) against filing of FIR no 13/2019 dated 26 October 2019 in a mega tax evasion scam. On 29 October 2019, counsel for the petitioners namely Muhammad Ahsan, Muhammad Idress, Muhammad Ali and Qaiser Abbas filed a constitutional petition and informed the court that ... Read More »

I&I submits FIR against M/s BMW Electronics for smuggling LED lights, electronics goods

KARACHI: Directorate General of Intelligence & Investigation-FBR submitted first information report (FIR) before the customs court against directors/proprietors/partners of M/s B.M.W Electronics who are nominated in a case of attempting to smuggle LED lights and other electronics goods and evaded duty and taxes by mis-declaring description and quantity of actual goods imported. On 28 October 2019, investigation officer submitted FIR ... Read More »

Customs Preventive foils bid to smuggle goods, impounds NDP vehicles

  KARACHI: Collectorate of Customs Preventive Anti-Smuggling Organization (ASO) impounded two non-duty paid vehicles and lodged two FIRs against owners of smuggled vehicles. According to sources Collector Preventive Saquib Saeed received information that some non-duty paid vehicles are plying in the city Subsequently a team was constituted under the supervision of Deputy Collector ASO Akbar Jan and IPS Iftikhar Hassan. ... Read More »

Banking Court directs to produce Anwar Majeed, A G Majeed of Omni Group from Adyala Jail

KARACHI: The Banking Court Judge Saad Qureshi has directed federal government and federal ministry for interior to make ensure to produce  Chief Executive Officer (CEO) of Omni Group Anwar Majeed, his son Abdul Ghani Majeed before the court on next date of hearing, who were nominated in different criminal complaints filed by Summit Bank, Sindh Bank and National Bank of ... Read More »

Provincial govts have crucial role to play for improving tax-to-GDP ratio: SBP

KARACHI: The State Bank of Pakistan (SBP), in its view on the provincial tax authority, has urged the provincial governments to rationalise the incentive structures. The bank declared that no serious tax effort could be observed from provincial tax collecting authorities until now. The tax collectors have been relying on the old tax base and have been collecting only property, ... Read More »

PTBA urges FBR to extend return filing date up to December 31

KARACHI: Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the last date for filing income tax returns up to December 31, 2019 for salaried and business individuals as around 1.6 million returns cannot be filed by October 31, 2019. In a letter sent to FBR Chairman Syed Shabbar Zaidi, the PTBA said that ... Read More »

First private LNG cargo to arrive at Gasport terminal

KARACHI: Chief Executive Officer of Universal Gas Distribution Company, Ghiyas Abdullah Paracha has said that Pakistani history’s 1st private LNG cargo will arrive at the Gasport Terminal. He said this is the second LNG terminal and UGDC will utilize its additional private capacity. He said this terminal has less line losses and better efficiency, which will help us to keep ... Read More »

NAB Court seeks rejoinders in case of filed against Babar Ghouri

KARACHI: The National Accountability Bureau (NAB) Court directed parties to complete arguments and submit their reply/ rejoinders in a case filed against Babar Khan Ghori, former Minister for Port and Shipping, Muhammad Javed Hanif, Rauf Akhtar Farooq, former chairmen of KPT and others for charges of corruption, corrupt practices and abuse of authority for illegally appointing 940 employees in KPT. ... Read More »

Customs Preventive to hold auction of used vehicles tomorrow

KARACHI: Collectorate of Customs Preventive will hold auction of of used vehicles to be held on October 29, 2019 (tomorrow) at various places. Toyota Lexus Car – Reg No. UC-868 -Model-2006-(As per seat Belt)–Chassis: JTHBG 963905034702 / Engine EMH-3 GR-FE158467 – 3485 cc.–State Warehouse-III- near PICT Gate-Keamori Toyota Harrier Jeep – Reg.No-JAA-454 – Model-1998 – 2999cc–Chassis No-MCU-10-0013510 – Engine No- ... Read More »

Customs Court directs to complete investigation against M/s New Aijaz Engineering, M/s Royal Steel

KARACHI: The Customs Court directed investigation officer of Directorate General of Customs Intelligence & Investigation to complete investigation and submit charge sheet against directors/ partners/ proprietors of M/s New Aijaz Engineering, directors/ partners/ proprietors of M/s Royal Steel and others associates-in-crime, who were nominated in first information report for evaded the duties and taxes in the tune of Rs17,400,133. On ... Read More »

Customs Court approves charge sheet of betel nuts, tyres, curtin cloth smuggling case

KARACHI: The Customs Court approved charge sheet against suspect namely Nazeer Ahmed son of Haji Muhammad Khan, who was nominated in a case of attempting to smuggle betel nuts, tyres, curtain cloth etc. On October 26, 2019, investigation officer of Customs Collectorate of Preventive submitted interim charge sheet and informed that on actionable information, customs team intercepted Yutong passenger bus ... Read More »

Director Irfan Javed’s Customs I&I lodges FIR against M/s B.M.W. Electronics

KARACHI: Directorate of Customs Intelligence and Investigation registered FIR against M/s B.M.W. Electronics for evading duty and taxes by mis-declaring description and quantity of imported goods. According to the details, Director Irfan Customs Intelligence and Investigation Irfan Javed received credible information that M/s. B.M.W. Electronics are involved in evasion of duty/taxes by mis-declaring the actual description and quantity of imported ... Read More »

M/s G’ Five Mobile approaches SHC against detention of imported consignment

KARACHI: M/s G’ Five Mobile Private Limited approached the Sindh High Court (SHC) and filed a constitutional petition against detention of its consignment comprising PCBA & parts for mobile due to enhancement of valuation. On October 24, 2019, counsel for the petitioner informed that petitioner is private limited engaged in the import of the mobile parts & accessories and seriously ... Read More »

SHC seeks comments on petition filed by clearing agents of M/s Ali & Co

KARACHI: The Sindh High Court (SHC) issued notices to the customs officials and deputy attorney general on a constitutional petition filed by Muhammad Ahsan, Muhammad Idress, Muhammad Ali and Qaiser Abbas clearing agents of M/s Ali & Co who approached the Sindh High Court (SHC) against lodging first information report (FIR) No 11/2019. On October 25, 2019, a two-member bench ... Read More »

SBP simplifies biometric verification for overseas Pakistanis

KARACHI: The State Bank of Pakistan (SBP), on Friday, issued detailed instructions to facilitate overseas Pakistanis in order to access their bank accounts. Under the new arrangement, overseas Pakistanis can now approach their respective banks through email or surface mail and provide identity documents like valid passport, visa, CNIC and National Identity Card for Overseas Pakistanis (NICOP) as an alternative ... Read More »

Appraisement West submits FIR against M/s Trade & Transport International

KARACHI: Collectorate of Customs Appraisement West has submitted first information report (FIR) before the Customs Court against Syed Danish Feroze, owner of M/s Trade & Transport International, officials of provincial excise, taxation and & narcotics control, Karachi, Peshawar and Swat KPK and others for submission/ filing of the fabricated/ bogus/ fake goods declaration, import general manifest and allied documents under ... Read More »