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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

Rahat Fateh Ali Khan gets reprieve on secret bank accounts issue

LAHORE: Pakistani singing powerhouse Ustad Rahat Fateh Ali Khan has gotten some reprieve on the issue of secret bank accounts. According to sources, the Federal Board of Revenue (FBR), after conducting an income tax audit, passed the order to impose zero tax on Rahat Fateh Ali Khan. Intelligence Inland Revenue had sent the details of singer Rahat Fateh Ali Khan’s ... Read More »

Pakistan Tax Bar Association holds “Anti-Money Laundering” seminar

LAHORE: A seminar was held under the auspices of Pakistan Tax Bar Association titled “Anti-Money Laundering”. Prominent among those who attended the seminar include Federal Board of Revenue Director Intelligence and Investigation (I&I) Ahmad Kamal, Pakistan Tax Bar patron Abdul Qadir Memon, President Aftab Hussain Nagra, Senior Vice President Habibur Rehman Zubai, Arshad Nawaz, Syed Umair Bokhari, General Secretary Farhan ... Read More »

PRA seeks budget proposals from stakeholders by March 3

LAHORE: Punjab Revenue Authority (PRA) has requested that all of its stake holders propose suggestions for the upcoming budget 2021/22. According to the PRA the suggestions should focus towards removing ambiguity, broadening of tax base, simplifications in process, ease of doing business, facilitation of taxpayers, etc. The PRA has requested that all suggestions are submitted to the authority by March ... Read More »

Pak exports could be increased manifolds if export warehouses established abroad. Iftikhar Ali Malik

  LAHORE: President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik said Pakistan export could be increased manifolds if export warehouses were established abroad on priority  in line with quickly emerging new trend of global marketing. Talking to a delegation of leading exporters led by Ms Chaudhary Minahal Akbar Arain, he said that new trend has emerged worldwide that ... Read More »

Pakistan & Tajikistan strike agreement on cooperation in customs matters

LAHORE: Pakistan and Tajikistan  have struck a land mark agreement on cooperation and Mutual Assistance in Customs Matters. The agreement has been signed in Dushanbe, Tajikistan by Imran Haider, Ambassador of the Islamic Republic of Pakistan to Tajikistan and Mr. Karimzoda K. Chairman, Customs Service, Republic of Tajikistan signed the said agreement on behalf of their respective governments. Pakistan Customs ... Read More »

‘Govt will pay handsome amount to affectees of Ravi city’

LAHORE: The Punjab govt will pay a handsome amount to the affectees of Ravi city for compensation’s and exemption affectees gave us their written proposal in 2 days. This was stated by SM Imran spokesman’s Ravi Urban Development Authority the occasion of Special meeting for affectees. On Rashid Aziz Chairman RUDA directions a special meeting was held in Assistant Commissioner ... Read More »

PCA orders audit of M/s MG import records

LAHORE: The Federal Board of Revenue (FBR) has ordered an audit of M/s Morris Garages (MG) Pakistan import records by Post Clearance Audit. The FBR has reviewed the issue of under-invoicing of M/s MG Motors on imported vehicles. The declared value and sale price of the vehicle do not indicate under-invoicing. It also mentioned that an audit of the importer’s ... Read More »

Strategy devised to expedite industrialisation in Punjab: Aslam Iqbal

LAHORE: Punjab Minister for Industries and Trade Mian Aslam Iqbal has said that a result-oriented strategy has been devised to expedite the process of industrialisation in the province. Chairing a meeting to review the performance of Punjab Industrial Estates Development and Management Company (PIEDMC) on Thursday, Mian Aslam Iqbal said that colonisation of industrial estates would usher in a new ... Read More »

Collector AIIA Azmat Tahira transfers inspectors, sepoys

LAHORE: Collectorate of Customs Allama Iqbal International Airport (AIIA) Azmat Tahira has issued order for transfers and postings of following inspectors, sepoys with immediate effect and until further order:- Intikhab Alam, Inspector is transferred from Royal and SAPS examination to MCD. Nasrullah Khan, Inspector is transferred from Airport Traffic to refund and rebate. Raza Ali Sial, Inspector is transferred from ... Read More »

Govt losing huge legitimate tax

LAHORE: The public exchequer has been losing a huge legitimate tax, which the Federal Board of Revenue (FBR) ought to have collected, wherever applicable. In an investigation it has been found that most of the withholding agents, who are on NTN, are non-filers of withholding tax statements that they are required to submit under Section 165 of the Ordinance. The ... Read More »

FBR proposal for restoration of zero-rating regime declined

LAHORE: The Federal Board of Revenue (FBR) proposal’ for the textile sector for the restoration of zero-rating regime for five export-oriented sectors has been declined due to faster payments of refunds, sources said The Ministry of Industries and Production and the Commerce Ministry had proposed the restoration of the zero-rating regime for the five leading export sectors. Exporters have approached ... Read More »

PCJCCI laments regulatory hurdles in import of medical equipment

LAHORE: Pakistan-China Joint Chamber of Commerce & Industry Vice President Khalid Raffique Choudhry has urged the government to withdraw regulatory hurdles to be faced by the importers of refurbished medical equipment. He was briefed by Pakistan Medical Equipment Importers & Dealers Association (PMEIDA) with regard to the recent problems that emerged under the Drug Regulatory Authority Pakistan’s new condition of ... Read More »

Punjab approves Rs10.5b for three uplift projects

LAHORE: The Provincial Development Working Party (PDWP) of Punjab has approved three development schemes of various sectors with an estimated cost of Rs10,464.548 million. The schemes were approved in PDWP’s 22nd meeting of current fiscal year 2020-21, presided over by the Planning & Development Board Chairman Abdullah Khan Sumbal. The approved development schemes included ‘establishment of 200-bedded mother & child ... Read More »

Dawood assures industrialists import of cotton and yarn from Wagah Border

LAHORE: Abdul Razzaq Dawood Advisor for Commerce and Textiles and Investment assured the industrialists in a zoom meeting to release the import of cotton and yarn from Wagah border. He said that the value added textile sector was facing a severe crisis due to the shortage of yarns and therefore the Prime Minister of Pakistan Imran Khan would be allowed ... Read More »

Business community wants to pay duty and taxes: FPCCI chief Nasir Hayat Magoon

LAHORE: Federation of Pakistan Chamber of Commerce & Industry President Nasir Hayat Magoon has said that business community wants to pay duty and taxes but a well consulted method should be adopted. He said that the public-private partnership is the best solution to the problems being faced by the business community and is also a good recipe for economic revival ... Read More »

BoP signs up with six MFIs to promote low-cost housing finance

LAHORE: The Bank of Punjab (BOP) has taken onboard six microfinance institutions within the Punjab Microfinance Network in a bid to extend financing for low-cost housing and agriculture to up to Rs10 billion. This was revealed by BOP Chief Executive Officer (CEO) Zafar Masud in an interview with a daily newspaper. “I am a big supporter of MFIs. I believe ... Read More »

LHC to hear Rana Sanaullah bail petition in assets case on Feb 9

LAHORE: The Lahore High Court (LHC) has fixed the hearing of bail petition submitted by Rana Sanaullah in assets beyond income case on Saturday. The registrar office of the Lahore High Court (LHC) fixed the bail petition of Sanaullah for the hearing. A two-member bench of LHC will hear the petition on February 9. Earlier on January 28, the National ... Read More »

UBG asks businessmen to avail out of court settlement offer of FBR

LAHORE: Chairman United Businessmen Group( UBG) and veteran trade leader Iftikhar Ali Malik on Friday asked the businessmen to avail the out of court settlement offer of Federal Board of Revenue for amicable resolution of their  taxation disputes without any hassles within time frame of only 120 days. Talking to a 10 member joint delegation of traders and Lahore Tax ... Read More »

Additional customs duty on import of electric 2-3 wheelers removed

LAHORE: The Federal Board of Revenue (FBR) has abolished additional customs duty on the import of electric vehicles 2-3 wheelers Completely Built Unit (CBU) condition; electric auto rickshaw, electric motorcycle, and 3-wheeler electric-loader up to June 30, 2025. The Federal Board of Revenue (FBR) has abolished additional customs duty on the import of electric vehicles 2-3 wheelers Completely Built Unit ... Read More »

Deputy Collector Appraisement transfers appraisers, inspectors, DEOs, UDCs, LDCs, sepoys

LAHORE: Collectorate of Customs Appraisement and Facilitation NLC Dryport Deputy Collector Syed Ittrat Hussain has issued order for posting of following officials with immediate effect and until further orders:- Faryal Amber, Appraiser transferred to import examination, auction branch, internal audit, cash branch. Hafiz Muhammad Ali Ansari, Appraiser transferred to car section, DRRA, law-I, supreme court, high court, FTO, bank guarantee ... Read More »