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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 prepared to counter Coronavirus attack threat from Indian controlled QICT, Maersk

KARACHI: Pakistani Government, Pak Army and Customs Authorities deployed at Karachi ports are fully prepared to counter Coronavirus attack threat from Indian controlled Qasim International Container Terminal (QICT) and Maersk Pakistan (Pvt) Ltd. Illegal appointment of Indians at Pakistan’s strategic sea port Qasim International Containers Terminal (QICT) without the Ministry of Interior’s (MOI) clearance could pose security threat to the ... Read More »

SHC seeks reply on petition against enhancement of valuation of imported goods

KARACHI: The Sindh High Court (SHC) directed customs officials to make ensure filing their para wise comments on a petition filed by an importer against enhancement of valuation of its imported consignment of assorted tyres and tube with flaps of various sizes, specifications, designs & patterns from China. On 11 February 2020, a two-member bench, headed by Justice Aqeel Ahmed ... Read More »

Assets case: Court adjourns hearing against Agha Siraj till March 9

KARACHI: The accountability court on Tuesday adjourned the hearing against Sindh Assembly Speaker Agha Siraj Durrani in assets beyond known sources of income till March 9. Agha Siraj Durrani and co-accused were presented in the court during the hearing today. The court directed NAB to present details of reference in the next hearing. Talking to media outside the court, the ... Read More »

CIR submits charge sheet against M/s Paramount Industries in sales tax evasion case

KARACHI: Commissioner Inland Revenue investigation officer submitted charge sheet against suspect namely Haroon Rehman Khan, owner of M/s Paramount Industries and others, who were nominated in a case of Rs84,988,515 sales tax evasion scam. On 10 February 2020, court approved charge sheet and issued non-bail able warrants against absconding suspects namely Bakht, Joel Gulzar, Insha Ur Rehman, Riaz Ali, Muhammad ... Read More »

ANF foils bid to smuggle narcotics worth Rs1b from SAPT

KARACHI: The Anti-Narcotics Force (ANF) busted one of the biggest drug trafficking attempts in Pakistan’s history on Monday seizing a container of illegal narcotics from South Asia Port Terminal (SAPT). According to details, heroin and cocaine worth, almost Rs1 billion was caught by the law enforcement agencies which was being smuggled through Pakistan. The raid was made at the South-Asia ... Read More »

Customs Court approves charge sheet against M/s Oriental Chemical Industries

KARACHI: Customs court approved charge sheet against Syed Jawad Arshad son of Syed Monawar Ali, owner of M/s Oriental Chemical Industries and others and issued non-bail able warrants of absconding suspects, who are booked in a case of committing of tax fraud by obtaining sales tax refund on the strength of fake and flying invoices and false zero rated supplies ... Read More »

LTU posts 85pc growth on tax collection from salary of executives, directors

KARACHI: The collection of income tax has registered sharp growth of 85 percent on salary received by executives/directors of companies. According to sources of Large Taxpayers Unit, the unprecedented growth has been witnessed due to changes in salary tax slabs introduced through Finance Act, 2019. The collection of income tax has increased to Rs3.1 billion during first seven months (July ... Read More »

NAB summons Bilawal Bhutto in Joint Venture Opal case

KARACHI: The National Accountability Bureau (NAB) has summoned Pakistan Peoples Party (PPP) chairperson Bilawal Bhutto in the Joint Venture Opal 224 case. The bureau’s Rawalpindi branch has summoned the PPP leader to appear before it on February 13, local media reported. NAB has asked Bilawal to bring all Zardari Group records from 2008 to 2019. He has also been asked ... Read More »

Customs Court extends remand of suspects in contraband goods smuggling case

KARACHI: The Customs Court sent suspects namely Naseer Ahmed son of Ali Khan and Muhammad Irfan son of Sher Muhammad to Central Jail on judicial remand and directed investigation officer to complete investigation and submit charge sheet on next date of hearing, suspects were booked in a case of attempting to smuggle betel nuts, foreign origin tyres, Ajinomoto salt etc. ... Read More »

DGTT issues procedure of tracking, sealing of Afghan Transit exports

KARACHI: Directorate-General of Transit Trade Director-General Sarfraz Ahmad Warriach has directed all concerned staff to adopt the procedure envisaged in SRO 413/2012 and CGO 4/2007 in order to streamline the sealing and tracking device mounting procedure for the reverse cargo arriving from Afghanistan (Afghan exports in transit) at Customs Station Torkham. According to the  newly issued procedure, the licensee/tracking company ... Read More »

SHC seeks reply on petition filed by M/s Bismillah Logistics Pvt Ltd

KARACHI: The Sindh High Court (SHC) sought comments from customs department and deputy attorney general of Pakistan on several constitutional petitions filed by including M/s Bismillah Logistics Pvt Ltd seeking their imported vehicles seized by customs department. On 4 February 2020, a two-member bench, headed by Justice Aqeel Ahmed Abbasi was hearing the matter. During the hearing, counsel for the ... Read More »

Customs Court awards imprisonment to suspects in breaking ISAF/NATO retrograde containers

KARACHI: The Customs Court awarded imprisonment for three years to suspects namely Rizwan Yousaf, Muhammad Rizwan, Idress Khan, Qaiser Ali and Satrah Khan who were nominated in a case of illegally engaged in breaking open the ISAF/NATO/US army retrograde containers which were being exported from Afghanistan to USA through Port Qasim Court also imposed fine of Rs10,00,000 each and if ... Read More »

Customs Preventive impounds smuggled diesel, betel nuts worth Rs48m during crackdown

KARACHI: Collectorate of Customs Preventive Anti-smuggling organization (ASO) impounded 48,000 liters of smuggled diesel along with Hino tanker. The market value of seized diesel is Rs20 million, while during another operation the ASO squad seized betel nuts and container worth Rs28 million. According to sources, Collector Saquif Saeed formed special anti-smuggling squads to foil smuggling attempts in the region. The ... Read More »

Ali Zaidi asks NAB to probe wrongdoings in multi-million KPT project

KARACHI: Federal Minister for Maritime Affairs Ali Zaidi has written a letter to National Accountability Bureau (NAB) authorities asking to conduct a probe into his own ministry involving wrongdoing in a Karachi Port Trust (KPT) project. In a letter written to the NAB authorities, Ali Zaidi revealed that 15 million Euros, which estimates up to Rs170 million, were spent for ... Read More »

Rs243b documented by people after ban on Rs40,000 unregistered prize bonds

KARACHI: An amount of Rs243 billion has been documented by people through surrendering bearer prize bonds of Rs40,000 denomination. According to official statistics, the investment in unregistered prize bonds of Rs40,000 denomination fell to Rs14.55 billion by December 2019 as compared with Rs258 billion in May 2019. The government on June 24, 2019 announced to discontinue the circulation of Rs40,000 ... Read More »

Sindh govt considering to stop collection of WHT on behalf of FBR

KARACHI: The Sindh government is mulling over a decision to stop the provincial excise and taxation department’s motor vehicle registration wings from collecting withholding tax on behalf of the Federal Board of Revenue (FBR). The decision could be made over the government’s complaint that “the FBR is unilaterally deducting huge funds from the provincial government’s accounts and it is also ... Read More »

SC orders to raze marriage halls built at PIA’s land at University Road

KARACHI: The Supreme Court (SC) on Friday ordered to raze marriage halls built at the land of Pakistan International Airlines (PIA) at city’s University Road. A three-member bench of the apex court headed by Chief Justice of Pakistan, Justice Gulzar Ahmed heard the case at the Supreme Court Karachi Registry. General Manager Legal Services PIA appeared before the court and ... Read More »

LTU sales tax collection on imports increases 21pc

KARACHI: The collection of sales tax on import has recorded a growth of around 21 per cent, increasing to Rs470 billion during the first seven months (July to January) 2019-2020, from Rs389 billion in the corresponding period last year. According to official statistics from the Large Taxpayers Unit (LTU) in Karachi, the collection increased to Rs474 billion during first seven ... Read More »

Pakistan’s forex reserves swells by US $281m

KARACHI: The Forex Reserves of Pakistan has surged by 3 per cent on Thursday and soared to USD 18.644 billion by $281 million, according to date released by the State Bank of Pakistan (SBP). SBP’s reserves has swelled by $359 million and recorded at $12.274 billion. Primarily, liquid foreign currency reserves held by the country, including net reserves held by ... Read More »

SHC halts demolition of Karachi’s historic Metropole Hotel

KARACHI: The Sindh High Court (SHC) on Thursday halted the demolition of Karachi’s historic Metropole Hotel located near the Shahrah-e-Faisal. The SHC judge presided the hearing on the petition of advocate Muhammad Kamran Sher. The petition has made the various officials respondents in the case. The petitioner maintained that they have their shops inside the Metropole Hotel and the administration ... Read More »