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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

Railways revenue reaches Rs15.968b in 9 months

LAHORE: Pakistan Railways has started bearing fruits as its revenue streams have registered a significant increase from June 10, 2013 to February 28, 2014 and department managed to earn Rs 15.968 billion. The revenue streams of the department were Rs 11.497 billion as compared to preceding corresponding period, thus registering an increase of 39 per cent which is Rs. 4.470 ... Read More »

Proposal to impose agriculture tax being considered: Mujtaba

LAHORE: Punjab Minister for Finance, Excise & Taxation Mujtaba Shuja ur Rehman has said that proposal to impose tax on agriculture is being considered. He said this while talking to delegations of political workers. The minister said that property tax, motor vehicle tax and tax on services were major sources of provincial income and the government was taking solid steps to simplify ... Read More »

ANF impounds Rs338m heroin, charas, 13 held

LAHORE: Anti Narcotics Force has recovered over 3 kg of heroin, 291 kg charas, 1.5 kg methamphetamine and 10,800 psychotropic tablets while arresting 13 drug peddlers. All the drugs combined were estimated to have a street value of over Rs 338 million. ANF has conducted seven operations in the provinces of Punjab, KPK and Sindh, said an official of the ANF. An ... Read More »

FBR promotes UDCs to supervisors

LAHORE: Reginal Tax Office Lahore II has promoted five Upper Division Clerks (UDCs) to supervisors. The five UDCs of Inland Revenue have been promoted to BPS-14 from March 19 on temporary basis. UDCs who are promoted as supervisor include Sagheer Tabussam, Hamid Raza, Muhammad Naeem, Tariq Mehmood Shakir and Pervaiz Iqbal. FBR has, however, ordered the supervisor to continue with ... Read More »

LTBA to hold polls on March 31

LAHORE: Lahore Tax Bar Association (LTBA) will hold its annual election 2014 on March 31 for five seats of office bearers including President. The elections will be contested by two groups one headed by Muhammad Awais while the other headed by Ayesha Qazi contesting for President’s slot. Others contesting for the remaining four positions include M Nouman Yahyah and Jamil ... Read More »

Customs seizes smuggled Indian goods

LAHORE: Customs officials impounded Indian soaps, ball bearings and tyres worth Rs 3 million in two different raids at Shera Kot and Misri Shah. Sources said that the non-customs paid items were stuffed in two different buses being driven into the local market by the inhabitants of Peshawar. According to sources, the authorities have started investigations taking the soaps, ball ... Read More »

Customs foils bid to smuggle foreign currency to Dubai

LAHORE: Customs officials have thwarted an attempt to smuggle foreign currency worth Rs 22.4 million to Dubai from Lahore. Customs Investigation and Prosecution department has registered an FIR arresting accused Qasir Iqbal. According to customs officials they checked on Qasir Iqbal, who was bound to fly to Dubai from Lahore and arrested him recovering a large amount of foreign currency ... Read More »

ANF recovers over a tonne of drugs

LAHORE: Anti Narcotics Force (ANF) has arrested seven drug peddlers and recovered over a tonne of drugs from various areas of Punjab, Khyber Pakhtunkhwa and Balochistan. ANF has recovered 3 kg heroin, 927 kg opium, 22 kg charas and seized two vehicles, official sources said. According to details, ANF Lahore arrested Muhammad Nawaz and Haroon Arif, residents of Lahore, and Shakir Ullah, ... Read More »

Fate of MoUs in jeopardy: LHC questions interpretation of Section 2(22A) of STA

LAHORE: The Lahore High Court (LHC) has termed interpretation of Section 2 (22A) of Sales Tax Act by FBR contrary to the essence of Sales Tax Law, questioning the legal status of Memoranda of Understandings (MOUs) recently signed between the Federal Board of Revenue (FBR), the Sindh Revenue Board (SRB) and Punjab Revenue Authority (PRA). A single bench of the ... Read More »

Textile exports unlikely to meet target of $16bn in FY 2013-14

LAHORE: Textile exports are likely to underperform during the fiscal year 2013-14 due to the shortage of favourable conditions, experts have estimated. Experts said, “Textile exports are expected to stand at $ 14 billion for FY 2013-14 as against the target of $ 16 billion on account of shortage of electricity and uncertain law & order situation.” The total exports ... Read More »

Rozi Khan assumes charge as Chief Collector-central region

LAHORE: Rozi Khan Burki has assumed charge as Chief Collector of Customs-Central Region at the Model Customs Collectorate Lahore. He has started attending his office at the MCC Lahore from Monday, March 24. Rozi Khan Burki has a rich profile on his credit and he has worked on various top slots in Federal Board of Revenue, and naturally in Pakistan ... Read More »

Textile sector to be top beneficiary of trade regularization with India

LAHORE: Pakistani textile sector will be the leading beneficiary of trade normalization between India and Pakistan if any major breakthrough takes place. Cross border trade with India holds important implications for Pakistani economy especially for textile sector, experts have said. According to reports, India has recently accepted Pakistan’s stance of removing its textile products from prohibitive list. Furthermore, struggle is under way from both sides ... Read More »

4 declared proclaimed offenders for misappropriation in duty

LAHORE: Special Judge of Customs has declared four accused of misappropriation in customs duty as proclaimed offenders. The Special Judge of Customs at the Federal Court has declared Nayyar Dogar, Shahid Bhatti, Khayrat Ali and Shahid Shahbaz proclaimed offenders for not attending the court for the last many months. They are allegedly involved in smuggling of betel leaves from India ... Read More »

Customs impounds 50 LED TVs, cloth, food items

LAHORE: Anti-smuggling wing of Model Customs Collectorate Lahore has seized non customs duty paid goods and articles worth millions of rupees at the Shera Kot and Band Road in different raids. Sources said that the customs impounded 14,000 meter cloth of foreign origin, 50 cartons of cigarettes, 50 Sony LED TVs, 42 cartons of coconuts, black pepper and Ispaghol. Sources ... Read More »

Customs seizes 42 tonnes of iron sheets

LAHORE: Anti-smuggling wing of Model Customs Collectorate Lahore has impounded 42 tonnes of iron sheets being smuggled from Iranian border all the way to Lahore. Sources said that the anti-smuggling wing of MCC Lahore raided on a truck at the Sera Kot and confiscated the iron sheets worth Rs 3.5 million. Sources added that the iron sheet smuggling from Iran ... Read More »

ANF seizes more than 20kg heroin from Karachi

LAHORE: Anti-Narcotics Force has raided two places in Karachi and seized more than 20 kilograms of heroin. An official source said about 22 kg heroin worth billions of rupees value in international market was seized from Ahmed Shaheed Chowk. Two kg heroin was also recovered from a courier company’s shop. The heroin was to be smuggled to England. Two drug traffickers ... Read More »

Strategy to double exports on the anvil: Aptma Punjab Chairman

LAHORE: All Pakistan Textile Mills Association (Aptma) is chalking out a long term strategy to double its exports from the current $13.5 billon to $26 billion in the next five years. He pointed out that Indian yarn exporters had the edge over their Pakistani counterparts as they could export yarn to Pakistan on zero customs duty “while we have to ... Read More »

Customs foils bid to smuggle heroin worth Rs 20m to India

Lahore: Customs officials foiled a bid to smuggle 2kg heroin worth Rs 20 million in international market and one million in local market to India skillfully packed in break slander of goods train of Railway at Wagha border. The Customs Investigation and Prosecution cell registered an FIR against unidentified persons on the complaint of Inspector Customs Railway Station, Wagha. According ... Read More »

MCC Lahore collects 27pc additional customs duty in 8 months

LAHORE: Model Customs Collectorate collected customs duty of Rs 141,488 million in eight months of financial year 2013-14, 26 percent higher compared to the corresponding period of financial year 2012-13. According to official data, Lahore Appraisement wing collected Rs 10603.8 million, 27 percent extra as compared with Rs 8344.19 to the same period of the last financial year whereas Preventive ... Read More »

Chinese investment to improve goods trains performance: Saad

LAHORE: Chinese investment and supply of coal will enable both goods and passenger trains to play role in boosting the performance of the department. Federal Minister for Pakistan Railways (PR) Khawaja Saad Rafique said this while speaking at a press conference here at Railway Headquarters. He said China would make an investment of 32 billion dollars, out of which 4 ... Read More »