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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

FBR extends date for filing of income tax returns

LAHORE: In exercise of the powers conferred under Section 214A of the Income Tax Ordinance 2001, FBR is pleased to extend the date of filing of income tax returns/statements for the tax year 2013 as under: 1-    The date of filing of returns of total income/statements of final taxation of companies whose tax year ends any time between the first ... Read More »

Assistant Collector Tauqeer Ahmad Dar promoted

LAHORE: Mr. Tauqeer Ahmad Dar, Assistant Collector (BS-17) presently working in Model Customs Collectorate of Preventive, Lahore is promoted to the post of Deputy Collector (BS-18) on regular basis with immediate effect. The officer, if drawing performance allowance, will continue to draw the same after his promotion. Read More »

FCCI asks govt to evolve sustained policies to grow economy

FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) President Mian Zahid Aslam has urged the government to make sustained economic policies in consultation with all stakeholders for the revival of industrial sector. He, while talking to a delegation of local industrialists, said that the government should also prepare investment and business-friendly policies to attract the foreign investors. He said that ... Read More »

European Parliament likely to grant GSP Plus status to Pakistan soon

LAHORE: European Parliament is most likely to grant GSP Plus status to Pakistan in its forthcoming meeting scheduled for December 2013. This was stated by Danish Ambassador to Pakistan Jesper Moller Sorensen while talking to LCCI President Farooq Iftikhar at Lahore Chamber of Commerce and Industry. LCCI former Vice President Saeeda Nazar was also present on the occasion. Pakistani exports ... Read More »

CAC backs PIAF-Founders Alliance in LCCI elections

LAHORE: The majority of Corporate and Associate Class (CAC) members of the Lahore Chamber of Commerce and Industry (LCCI) have announced their support for PIAF-Founders Alliance for the upcoming LCCI elections scheduled for September 23 and 24. Pakistan Steel Re-Rolling Mills Association (PSRMA) leaders Mian Muhammad Ashraf, Hafiz Muhammad Akbar arranged a luncheon reception in honour of the CAC leaders ... Read More »

Businessmen Group clean-sweeps APPMA annual elections

LAHORE: Businessmen Group has made a clean sweep in the Annual General Elections of All Pakistan Paper Merchants Association. According to the results announced by the Election Commissioner, candidates of Businessmen Group Mian Amjad Hussain, Imran Khalid Chaudhryl Muhammad Reza, Sharafat Hussain, Muhammad Shan and Muhammad Naeem got success on all six seats. Leader of Businessmen Group Khamis Saeed Butt, ... Read More »

Businessmen asked to deposit 1pc sales tax

LAHORE: Federal Board of Revenue (FBR) is urging business community to collect one per cent sales tax imposed by the parliament as businessmen are facing problems in recovering additional tax levied on suppliers or services from June 13. It is being claimed by some suppliers that there is no provision in FBR’s e-filling system to accept the additional tax. An ... Read More »

Remittances up by 7pc

LAHORE: Overseas Pakistanis remitted $2637.27 million in first two months (July & August) of the current fiscal year. It shows a growth of 7.05 percent as compared to $2463.69 million received during the same period of last fiscal year, said a statement by State Bank of Pakistan. The inflow of remittances in July-August from Saudi Arabia, UAE, USA, UK, GCC ... Read More »

‘SROs affecting Sialkot export industry’

SIALKOT: Chairmen of trade unions representing all five zero-rated export-oriented sectors and Sialkot Tax Bar Association have discussed the negative effects of SROs 505(I)/2013 and 98(I)/2013 on export industry with Sialkot Chamber of Commerce and Industry (SCCI) President Sheikh Abdul Majid in a meeting. The SCCI President told the chairmen that he had pointed out the problems regarding the said ... Read More »

APTMA to hold road shows in European states, US

LAHORE: All Pakistan Textile Mills Association (APTMA) Chairman Gohar Ejaz has said that the association will hold international road shows in the European states and the United State. He said this while talking to the delegation of Lahore Economic Journalists Association (LEJA). APTMA Vice Chairman Wisal Monnoo, APTMA Punjab newly-elected Chairman SM Tanveer, newly-elected Senior Vice Chairman Ali Ahsan and ... Read More »

Trade deficit reduces 11.45pc in August

LAHORE: Pakistan’s trade deficit narrowed by 3.07 per cent during the first two months of the current fiscal year as exports expanded by 3.66 per cent while imports witnessed nominal increase of 0.54 per cent as compared to the same period of last year. On year-on-year basis, the trade deficit decreased by 11.45 per cent in August 2013 when compared ... Read More »

FTO directs tax officials not to intervene

LAHORE: The Federal Tax Ombudsman (FTO) has directed all the tax officials not to entertain tax-related issues which have already been addressed by the FTO under the Federal Ombudsmen Institutional Reforms Act (FOIRA) 2013. In this regard, the FTO registrar has issued written instructions to the FBR chairman and asked him to make sure that the legal position is communicated ... Read More »

Sialkot exporters irked by flaws in WeBOC system

SIALKOT: All Pakistan Dry Ports Association (APDPA) Chairman Mohammad Ishaque Butt expressed his deep concern over the serious functional flaws in WeBOC (Web Based One Customs) system. In a press statement, he said that due to long registration process, just 25 per cent exporters had yet been registered with WeBOC. The former FBR chairman, on his visit to Sialkot Dry ... Read More »

FBR chief directs Lahore RTO officers to achieve target

LAHORE: Tariq Bajwa, Chairman of Federal Board of Revenue (FBR), has ordered the Regional Tax Office (RTO) Lahore officers to try their best to meet the budgetary target. He issued these directives while chairing a meeting of the Chief Commissioners of RTO-I, RTO-2, Large Tax Payer Unit (LTU) and other high officers. The meeting discussed changes made in this fiscal ... Read More »

Lahore Customs Agents launch strike

LAHORE: Lahore Customs Agents Association has decided to go on complete strike today at all stations in order to express solidarity with the Karachi Customs Agents Association. The decision was taken in an emergent meeting of the body. Lahore Customs Agents Association Chairman M Amjad Chaudhry and President Agha Iftikhar said that FIRs were registered against Customs Agents in Karachi ... Read More »

Pakistan can be superpower of world halal market: Malaysian Minister

LAHORE: Malaysian State Minister for Religious Affairs and Domestic Trade Haji Abdul Malik Kassim said that Pakistani Halal Products are fast gaining ground in international halal market; therefore; the government should expedite measures to start certification to give required boost to this trade that has 16 percent share in total world trade. The Malaysian Minister was speaking at Halal Food ... Read More »

PIAF-Founders Alliance wins woman seat unopposed

LAHORE: PIAF-Founders Alliance won one seat reserved for women unopposed in LCCI elections as no other candidate filed the nomination papers against the Alliance candidate. With this unopposed victory, the strength of the Alliance will reach 17 in the 32-member House, while the elections on remaining seats will be held on September 23 and 24 as per schedule. According to ... Read More »

Customs intelligence detains 5 busses full of illegal goods

LAHORE: Customs Intelligence and Investigation has detained five buses loaded with illegal goods worth millions of rupees. Sources said that the busses were en route from Peshawar to Lahore when a team of Customs Intelligence nabbed the drivers of the busses and confiscated illegal foreign-made cloth, antibiotic medicines, auto parts, shampoos and miscellaneous goods worth Rs 15 million. Sources said ... Read More »

Mobile imports drop in June-July

LAHORE: The mobile phone imports into the country decreased by 15.16 per cent and 34.87 per cent during the months of June and July as compared to the imports during the same period last year respectively. According to Pakistan Bureau of Statistics (PBS) data, the imports of mobile phones into the country during July 2013 were recorded at $44.678 million ... Read More »

PRA serves notice to KFC, OCS for ST on service recovery

LAHORE: Punjab Revenue Authority (PRA) has served notice to KFC and OCS courier service for the recovery of sales tax on services. Official sources said that both KFC and OCS have been served notices for recovery of Rs 10 million and Rs 5.0 million respectively. Sources said that KFC and OCS have been evading tax for the last three months. ... Read More »