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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 detecting immovable property sales & purchase to check fair market values

ISLAMABAD: Federal Board of Revenue (FBR) is monitoring transactions of immovable properties to check sales and purchases on fair market value. The sources told that the FBR had reduced the withholding tax rate to one percent from July 1, 2019 to be collected from purchaser of immovable properties. However, this rate should be two percent in case the buyer is ... Read More »

Footwear exports increase 17pc in 1H of FY2019-20

ISLAMABAD: The footwear exports from the country witnessed increase of 17.75 percent during the first half of current financial year (2019-20) compared to the corresponding period of last year, the latest data of Pakistan Bureau of Statistics (PBS) revealed. Pakistan exported footwear worth $67.404 million during July-December (2019-20) against the exports of $57.244 million during July-December (2018-19), showing a growth ... Read More »

FBR to take stern action against non-filers

ISLAMABAD: Federal Board of Revenue (FBR) on Monday warned persons having taxable income to file their annual returns for tax year 2019 otherwise tax authorities will initiate legal proceedings. The FBR issued reminder for persons having taxable income but so far unable to file their annual returns for tax year 2019. The FBR said that the last date for filing ... Read More »

FBR to take action against 210 employees for taking BISP benefit

ISLAMABAD: The Federal Bureau of Revenue (FBR) has initiated a stern disciplinary action against as many as 196 of its employees who had been benefitting from the Benazir Income Support Programme (BISP) assistance meant for the poor. According to media, around 210 FBR officials (from grade 1 to 16) had received cash stipends under the BISP. Most of them received ... Read More »

KCCI deeply concerned over hardships faced by allottees, members of Bahria Town

KARACHI: Acting President Karachi Chamber of Commerce & Industry (KCCI) Arshad Islam and Chairman of Karachi Chamber’s Housing, Construction & Real Estate Subcommittee Asif Sumsum have underscored that any issue pertaining to additional charges or irregularities in the Bahria Town project have to be amicably resolved as it was not just a matter of grave concerns for the real estate ... Read More »

Multan Preventive seizes betel nuts worth Rs70m during raid

MULTAN: Collectorate of Customs Preventive seized huge quantity of betel nuts worth Rs70 million during raid in a private warehouse located in the Lodhran area. Sources told Customs Today that Collector Muhammad Saleem received credible information that bulk quantity of contraband smuggled goods were concealed in a private warehouse located in the Jalalpur Road Kallu Wala near Lodhran. Collector formed ... Read More »

ICCI issues joint declaration of APCPC 2020

ISLAMABAD: The Islamabad Chamber of Commerce & Industry organized an “All Pakistan Chambers Presidents Conclave 2020” (APCPC 2020) few days ago in which 47 Presidents of Chambers of Commerce and Industry from across Pakistan participated. At the conclusion of the Conclave, Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry and Mian Anjum Nisar, President, Federation of Pakistan Chambers ... Read More »

M/s Navtakia Int’l moves SHC against detention of 20 containers

KARACHI: M/s Navtakia International’s owner Muhammad Saleem has approached the Sindh High Court (SHC) against detention of 20 containers of kindey beans total quantity of 480 MT imported from Uganda stopped by Adviser and Director General, Ministry of National Food Security & Research, Plant Quarantine Division. On 27 January 27, 2020, counsel for the petitioner stated that the petitioner import ... Read More »

Customs Preventive submits FIR against M/s Pak Int’l Goods Transportation & others

KARACHI: The Customs Court directed investigation officer of Customs Preventive to complete investigation against Dawood, owner of M/s Pak International Goods Transportation, Rizwan, manager of M/s Pak International Goods Transportation and others who were booked in a case of attempting to smuggle non-duty paid betel nuts, foreign cigarettes etc. On 27 January 2020, investigation officer produced the first information report ... Read More »

NAB chairman takes notice of ATM fraud

ISLAMABAD: National Accountability Bureau (NAB) Chairman Justice (r) Javed Iqbal Tuesday directed conducting inquiry of ATM fraud being committed by some unscrupulous elements by using the name of NAB. A NAB spokesman said in a statement that NAB chairman took the notice of reports that some cheaters were involved in blocking the ATM cards from the ATM machines of different ... Read More »

Putin Decides Low-Growth Russia Could Use Help From Keynes

(Bloomberg) — Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast. With time running out on his final term as president, Vladimir Putin evidently wants to end it with a boom.Putin has been a cautious steward of Russia’s $1.7 trillion economy, partly to shield it against blowback ... Read More »

Stocks and oil slump on fears over China virus outbreak

Brexit uncertainty plus political turmoiled equalled financial distress for almost half a million British businesses in the final three months of last year, according to a new survey which measures corporate health. 494,000 companies were found to be in significant distress in the last quarter of 2019 by the latest red flag alert from insolvency firm Begbies Traynor, representing about ... Read More »

Saudi investment chiefs host students from one of world’s top business schools

Riyadh: Saudi mega projects and regional and global investment opportunities were outlined to students from one of the world’s top business schools at a seminar in Riyadh. The Saudi Public Investment Fund (PIF) hosted business major students from Harvard Business School (HBS) for a conference held at the capital’s King Abdullah Financial District. As well as being introduced to the ... Read More »

PSX witnesses bearish trend, loses 93 points

KARACHI: Pakistan Stock Exchange (PSX) on Monday witnesses bearish trend as KSE-100 index closed at 42539 points with a negative change of 93 points. A total of 198,479,790 shares were traded, whereas the value of shares traded during the day stood at Rs6.566 billion as compared to Rs 6.726 billion during last trading day. Total 350 companies’ transacted shares in ... Read More »

Cutlery exports witnessed increase of 7.39pc in six months of FY20

ISLAMABAD: The cutlery exports from the country witnessed an increase of 7.39 percent during the first six months of current financial year (2019-20) as against the exports of corresponding period of last year (2018-19). Pakistan exported cutlery worth $47.415 million during July-December (2019-20) against the exports of $44.154 million during July-December (2018-19), showing growth of 7.39 percent, according to the ... Read More »

Quetta Customs shows outstanding performance to curb smuggling: Zulfiqar Ch.

QUETTA: Chief Collector Customs Zulifaqar Ali Chaudhary  lauded the efforts of Customs  staff of Balochistan  for efficient vigilance at country’s borders to curb illegal trade of contraband goods. Pakistan Customs Quetta celebrated International Customs Day with enthusiasm at Customs House Quetta. This day was dedicated by the World Customs Organization (WCO) to be celebrated every year. The theme set by ... Read More »

KPT shipping intelligence report Jan 27

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Monday. ALONG SIDE (Bulk Oil Pier) Berth Vacant… ALONG SIDE (East Wharves): 2 Pace Worth D. Chemical East Wind 27/01/20 11/12 Maa Saleha Begum L. Clinkers Crystal Sea 22/01/20 13/14 Apiradee Naree L. Clinkers Crystal Sea 25/01/20 14/15 Tomini Ability ... Read More »

Stocks fluctuate, gold rises to over 2-week high

KARACHI: The Pakistan Stock Exchange (PSX) on Monday has been reflecting fluctuations – as mostly foreign investors remained wary of the virus outbreak in China and possible spread in many other countries, together with some local investors confidence after Pakistan’s beneficial tour of the World Economic Forum (WEF) last week to bring leading firms’ attention for possible contribution in the ... Read More »

Pakistan Customs will be supported with all necessary resources: Governor Ch. Sarwar

LAHORE: Punjab Governor Chaudhry Mohammad Sarwar said the Pakistan Customs will be supported with all necessary resources as the department had a greater role in imports and exports. He made this assurance while speaking as the chief guest in the narcotics bulldozing and burning ceremony held in connection with the World Customs Day here at Wagha border. At the ceremony, ... Read More »

Pakistan Customs playing vital role to strengthen economy: Hafeez Shaikh

KARACHI: Adviser to Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh has said that Pakistan Customs is playing a role in lifting up the country’s economy. According to the details, to commemorate the efforts of Pakistan Customs, a glorious ceremony was held at Customs House, Karachi. The commencement of the event was marked by flag hoisting ceremony. Chief ... Read More »