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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

Asad Umar stresses need for JVs between investors of Pak, China in CPEC SEZs

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Asad Umar  emphasized the need for joint ventures between the investors of Pakistan and China in the Special Economic Zones (SEZs) being established in Pakistan under the China-Pakistan Economic Corridor (CPEC). He said that the SEZs under CPEC would provide maximum facilities to foreign investors. He was talking to Ambassador of ... Read More »

Finance Minister directs to chalk out plans for reformation of pay, pension system

ISLAMABAD: Chairperson Pay and Pension Commission Ms. Nargis Sethi called on the Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, at the Finance Division today. SA PM on Finance and Revenue Dr. Waqar Masood Khan and Secretary Finance Division were also present during the meeting. The Chairperson Pay and Commission briefed the Finance Minister about the working of the ... Read More »

DG Transit Trade to ensure smooth customs operation on ports, airports & land border stations from May 8 to 16

ISLAMABAD: Federal Board of Revenue (FBR) Secretary Enforcement & Coordination Dr. Tahir Iqbal Khattak has issued directions to Director-General Transit Trade to ensure un-interrupted customs operation on ports, airports and land border station from May 8 to May 16, 2021. He directed that all field formations shall perform their functions from May 8, 2021 to May 16, 2021 as under: ... Read More »

Pakistan asks IMF to cut FBR collection target to Rs5.5t amid coronavirus pandemic

ISLAMABAD: Pakistan has asked the IMF for a cut in FBR’s collection target from Rs5.9 trillion to Rs5.5 trillion for the upcoming budget, citing the third wave of the coronavirus pandemic as a reason. The IMF had given the FBR the tax collection target of Rs5,963 billion for the upcoming budget 2021-22 against a downward revised target of Rs4,691 billion ... Read More »

FBR grants duty exemption on import of cotton yarn

ISLAMABAD: Federal Board of Revenue (FBR) notified exemption of customs duty on import of cotton yarn till June 30, 2021. The FBR issues SRO 533(I)/2021 to comply with the decision of Economic Coordination Committee of the Cabinet (ECC) to exempt whole of customs duty on import of cotton and cotton yarn. The ECC on April 14, 2021 approved the withdrawal ... Read More »

Deputy Director Maryam Khalid transfers 6 intelligence officers to different stations

ISLAMABAD: Directorate-General Customs Intelligence and Investigation Deputy Director (HQs) Maryam Khalid has issued order for transfer and posting of following Intelligence Officers of the Directorate Generational Customs Intelligence and Investigation with immediate effect and until further orders:- Muhammad Akmal Hashmi, Intelligence Officer is transferred from Regional Office, Karachi to Regional Office, Quetta. Muneer Ahmed Chandio, Intelligence Officer is transferred from ... Read More »

Nayyar Shafiq assumes charge as Collector Adjudication Faisalabad

ISLAMABAD: Muhammad Nayyar Shafiq, a Pakistan Customs Service (PCS) /BS-20 officer, has relinquished the charge of the post of Additional Collector Customs Allama Iqbal International Airport (AIIA) and assumed the charge of the post of Collector Customs Adjudication Faisalabad. A notification issued by the Federal Board of Revenue read as “in pursuance of Board’s notification no: 0976-C-I/20021, dated 23.4.2021, Mr. ... Read More »

Govt committed to empower underprivileged women: Tarin

ISLAMABAD: Finance Minister Shaukat Tarin says the government is firmly committed to pro-poor agenda and supports economic empowerment of the under-privileged women through Ehsaas safety net. He was speaking at a meeting to finalize modalities for disbursement of targeted subsidies in Islamabad on Thursday. Shaukat Tarin said primary objective of Ehsas safety net is poverty alleviation, socio-economic uplift and financial ... Read More »

FBR Chairman Asim Ahmed inaugurates Anti-Benami Adjudicating Authority Secretariat

ISLAMABAD: Chairman, Federal board of Revenue (FBR), Asim Ahmed has inaugurated the Secretariat of Anti-Benami Adjudicating Authority here in Islamabad. On this occasion, Chairman Anti-Benami Adjudicating Authority Muhammad Ali, Member FATE and Director General Anti Benami Initiatives Syed Nadeem Hussain Rizvi, Member Administration Bakhtiar Muhammad and other members and officers were present, said a press release issued by FBR here ... Read More »

Declining import of services narrows down trade deficit by 52pc

ISLAMABAD: Deficit in trade of services in the first 9 months of fiscal year 2020-21 witnessed a significant decline owing to more than 20 percent decrease in import of services from abroad. The overall trade deficit in trade of services fallen to $ 1,362.53 million during 3 quarters of FY 2020-21 that was recorded $ 2,860.59 in corresponding period of ... Read More »

ECC okays payment of first installment to 35 IPPs

ISLAMABAD: The Economic Coordination Committee of the cabinet on Wednesday approved payment of the first installment to 35 IPPs out of a total 47, whereas payment to the remaining 12 IPPs (under Power Policy 2002) may be withheld owing to the NAB investigation. Federal Minister for Finance and Revenue Shaukat Tarin, chaired the Economic Coordination Committee (ECC) Cabinet today. Federal ... Read More »

US Charge d’ Affaires calls on Finance Minister Shaukat Tarin

ISLAMABAD: The Charge d’ Affaires of the United States to Pakistan Her Excellency Ms. Angela P. Aggeler held a meeting with the Federal Minister for Finance and Revenue Shaukat Tarin at the Finance Division in Islamabad on Wednesday. The Secretary Finance Division was also present during the meeting. While extending a warm welcome to Her Excellency Ms. Angela Aggeler, the ... Read More »

FBR starts action against fake invoicing in steel sector

ISLAMABAD: The Federal Board of Revenue (FBR) has initiated action against fake invoices in the steel sector. According to sources, FBR has written letters to chief collectors of Customs Appraisement and Facilitation, in Karachi, Lahore, Islamabad and Quetta, asking them to submit reports on illegal businesses by May 4. FBR said that mis-declaration of imported steel was not only hurting ... Read More »

Finance minister directs for provision of maximum facilities in under-developed areas

ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin, held a meeting with Federal Minister for Economic Affairs Division Omar Ayub Khan at the Finance Division today. SAPM on Finance and Revenue Dr. Waqar Masood, Secretary Finance Division, Secretary EAD and other senior officers also participated in the meeting. Secretary EAD briefed the Finance Minister about the ongoing foreign funding ... Read More »

Next budget should focus on development, inflation control, directs PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan on Sunday chaired a high-level meeting to discuss the country’s economy in detail and directed his team to focus on development and inflation control in the next budget. The forum was informed that the upcoming budget would be a development budget with a focus on increasing growth. The premier directed that special attention be given ... Read More »

First-ever shipment from Pakistan under TIR reaches Tashkent

ISLAMABAD: Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood informed that first-ever shipment from Pakistan under Transports Internationaux Routiers (TIR) reached Tashkent, Uzbekistan in 48 hours from Torkham, Pakistan. “A milestone has been achieved in Pakistan’s transit trade history as Pakistan Customs processed the first-ever TIR consignment,” Dawood said, adding that that connectivity with trading partners is ... Read More »

PM Imran lauds FBR for 57pc YoY growth in April tax receipts

ISLAMABAD: Prime Minister Imran Khan commended the Federal Board of Revenue (FBR) for its efforts in achieving growth of 57% in April, 2021 with collections recorded at Rs384 billion compared to Rs240 billion in April last year. “I commend FBR efforts on achieving growth of 57% in April 2021 with collections recorded at Rs384 billion compared to Rs240 bn in ... Read More »

Around 2.9 million returns filed for Tax Year 2020 till May 1: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Saturday said that the number of return filers reached to 2.9 million for tax year 2020 by May 01, 2021. The FBR said that last year the number of income tax return filers for tax year 2019 was 2.6 million on the same day, which shows a growth of 12 percent. An amount ... Read More »

NPMC reviews price trend of essential commodities specially wheat flour, sugar, edible ghee & chicken

ISLAMABAD: Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, chaired the meeting of the National Price Monitoring Committee (NPMC) at the Finance Division today. Federal Minister for National Food Security and Research Syed Fakhar Imam, SAPM on Finance and Revenue Dr. Waqar Masood, Secretary Finance Division, Secretary M/o NFS&R, Secretary M/o Industries  and Production, Provincial Chief Secretaries, Member PBS, ... Read More »

FBR jacks up assessable customs value of MG vehicles by 14.5pc

ISLAMABAD: The Federal Board of Revenue (FBR) has reportedly increased assessable customs value of MG vehicles by 14.5 percent from $ 11,632 per unit to $ 13,314 per unit by using ‘Fall Back Method’ as provided under section 25(9) of the Customs Act, 1969. Official documents reveal that pursuant to the directives of FBR conveyed through Model Customs Collectorate of ... Read More »