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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

PTA issues mobile device manufacturing regulations

ISLAMABAD: Pakistan Telecommunication Authority (PTA) has said it has issued Mobile Device Manufacturing (MDM) regulations and has started receiving applications for mobile device manufacturing. In a statement, PTA said that the implementation of the authority’s Device Identification, Registration and Blocking System (DRIBS) in 2019 had resulted in significant increase in legal import of mobile devices and establishment of over 33 ... Read More »

FBR extends pre-arrival customs clearance facility to five airlines

ISLAMABAD: Federal Board of Revenue (FBR) said that it has extended the pre-arrival custom clearance facility to five airlines. A FBR spokesman on a pilot project on customs clearance in the Sky that was started with Qatar Airways has now been rolled out to five other airlines. Urgent shipments on Turkish Airlines, Fly Dubai, Air Arabia and YTO cargo are ... Read More »

FBR devises mechanism for release of consignments stuck-up at Karachi ports

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday devised a mechanism for release of imported goods of FATA/PATA residents stuck-up at Karachi ports. A meeting was held under the Chairmanship of the FBR chairman with Inland Revenue-Operations and Customs Operations Wings to sort out the issues of imported goods of FATA/PATA residents stuck-up at Karachi Ports, Consumption/Installation Certificates, Postdated Cheques ... Read More »

FBR starts harmonizing IR codes to simplify & consolidate tax laws

ISLAMABAD: Federal Board of Revenue (FBR) has started harmonizing Inland Revenue codes in order to simplify and consolidate the tax laws. According to sources, the harmonization of IR codes has been started under World Bank funded ‘Pakistan Raises Revenue Project’.  The FBR said that it had received financing from the World Bank towards the cost of the Pakistan Raises Revenue ... Read More »

Eurobonds, Sukuks granted income tax exemption by FBR

ISLAMABAD: Federal Board of Revenue (FBR) granted income tax exemption on profits derived by foreign nationals on yield of Eurobonds and International Sukuk issued by the government of Pakistan. In this regard the FBR issued two notifications to make changes in Income Tax Ordinance, 2001. The FBR issued SRO 268(I)/2021 and SRO 269 (I)/2021. The FBR granted the exemption while ... Read More »

FBR suspends IR officer of BS 18 Jamshed Khan for four months

ISLAMABAD: Federal Board of Revenue (FBR) suspended a BS-18 officer of Inland Revenue Service (IRS) for four months with immediate effect. A notification said that the FBR while exercising powers conferred under Rule 5 of the Civil Servants (Efficiency & Discipline) Rules, 2020, placed Muhammad Jamshed Khan (IRS/BS-18), presently posted as deputy commissioner, Regional Tax Office, Rawalpindi under suspension for ... Read More »

Pakistan improves position on WB Ease of Doing Business Index: report

ISLAMABAD: Pakistan has improved its position on World Bank (WB) Ease of Doing Business Index for the second consecutive year, according to the annual report issued by Security and Exchange Commission of Pakistan (SECP). As per World Bank’s latest rankings on ease of doing business for 2020, Pakistan has improved its position by 28 points from 136 to 108 which ... Read More »

ATL registers 30pc drop

ISLAMABAD: The number of active taxpayers has declined by 30 per cent or 935,000 to just under 2.2 million, according to the latest Active Taxpayers List (ATL) released by the Federal Board of Revenue (FBR). The 2.2 million tax return filers were just one-third of those who have valid National Tax Numbers (NTNs) and are doing business in Pakistan but ... Read More »

FBR launches new complaint redressal mechanism to target corruption

ISLAMABAD: The Federal Board of Revenue (FBR) has announced to launch a new complaint redressal mechanism aimed at solving complaints of taxpayers against corruption and other malpractices in Inland Revenue Field Formations. Sharing the policy via series of messages from its Twitter handle, the FBR’s spokesman said that the new mechanism will conceal the identity of the complainant in order ... Read More »

FBR publishes active taxpayers’ list for tax year 2020

ISLAMABAD: The Federal Board of Revenue (FBR) published on Monday the Active Taxpayers’ List (ATL) for Tax Year 2020. According to the ATL, more than 2.6 million income tax returns were filed during the tax year under review as compared to 2.4 million filed during the previous tax year, showing an increase of 8 per cent. The FBR said the ... Read More »

FBR crosses eight-month revenue collection target by Rs18b

ISLAMABAD: The Federal Board of Revenue has exceeded its target for the first eight months of the current fiscal year (July-February) by fetching Rs2,916 billion against its desired target of Rs2,898 billion, seeing an increase of Rs18 billion. As per the provisional collection figures, the FBR collected net revenue of Rs2,916 billion during the Jul-Feb period, which has exceeded the ... Read More »

FBR receives 2.63 million income tax returns for tax year 2020

ISLAMABAD: Federal Board of Revenue (FBR) has received 2.63 million income tax returns for tax year 2020 by February 28, 2021, just one day ahead of issuing new Active Taxpayers List (ATL). According to a statement issued on Sunday the FBR said that it had received 2.63 million income tax returns for tax year 2020 by February 28, 2021, which ... Read More »

FBR issues 2.1 million notices to companies & individuals for not filing returns, mis-declaring assets

ISLAMABAD: The tax authorities have issued 2.1 million notices to individuals and companies for non-compliance in annual return filing and to those who misdeclared assets in their annual returns of income. According to a statement issued by FBR, these notices were sent to defaulters by February 28, 2021. The FBR issued notices around 1.4 million by January 31, 2021. It ... Read More »

Pak-Turkey freight train to resume operations from March 4

ISLAMABAD: The Istanbul-Islamabad freight train is likely to resume operations on March 4, connecting goods train business of three countries including, Turkey, Iran and Pakistan, after a gap of almost a decade. According to a report by a local media outlet that quoted a senior official of the Pakistan Railways (PR), the train is set to depart from Istanbul on ... Read More »

FBR notifies Rs1,000 surcharge for individuals

ISLAMABAD: The Federal Board of Revenue (FBR) has clarified that a lower rate of Rs1,000 will be charged from individuals (salaried and non-salaried) on late filing of income tax returns for the tax year 2020 for inclusion in the Active Taxpayers’ List (ATL). The FBR’s spokesperson has clarified that surcharge for inclusion in ATL for late filing individuals is Rs1,000 ... Read More »

Pakistan, Saudi Arabia to further promote cooperation in customs, tax fields

ISLAMABAD: Ambassador of Saudi Arabia in Pakistan, Nawaf Saeed Al-Malikey here on Saturday had a call on meeting with Chairman Federal Board of Revenue (FBR), Muhammad Javed Ghani during which matters of mutual concern pertaining to cooperation on customs and tax were discussed . According to press statement issued by the board, it was agreed in the meeting that relevant ... Read More »

FBR collects Rs2900b during eight months of FY2020-21

ISLAMABAD: The Federal Board of Revenue (FBR) announced that it has successfully achieved tax targets for the first eight months of the fiscal year 2020-21. According to a spokesman for the FBR, it has successfully collected a tax amount of Rs2,900 billion in the first eight months of the fiscal year, which is higher than the revenue target of Rs2898 ... Read More »

FBR notifies promotion of 7 PCS officers from BS-20 to BS-21 with immediate effect

ISLAMABAD: Federal Board of Revenue (FBR) issued notification for promotion of following 7 officers of Pakistan Customs Service (PCS) from BS-20 to BS-21 on regular with immediate effect and until further orders:- Muhammad Iqbal Bhawana Wajid Ali Rabab Sikandar Zulfiqar Younus Shahnaz Maqbool Ahmad Rauf Seema Raza Bokhari The officers, who are presently posted against BS-21 posts on OPS, will ... Read More »

FBR promotes 24 IRS officers from BS-19 to BS-20 on regular basis

ISLAMABAD: Federal Board of Revenue (FBR) notified promotions of 24 officers of Inland Revenue Service (IRS) from BS-19 to BS-20 on regular basis with immediate effect. Following IRS officers have been promoted to BS-20: Muhammad Safdar Muhammad Abu Bakar Siddique Ms. Tajamal Bilquis Ms. Fauzia Adil Dr. Razi-ur-Rehman Khan Shaheed Mehboob Muhammad Bilal Malik Barrister Nowsherwan Khan Ms. Iram Shabbir ... Read More »

10 IRS officers promoted from BS-20 to BS-21

ISLAMABAD: Federal Board of Revenue (FBR) notified promotions of 10 BS-20 officers of Inland Revenue Service (IRS) to BS-21 on regular basis with immediate effect. Following officers have been promoted to BS-21: Tariq Mustafa Khan Mir Badshah Khan Wazir Malik Amjad Zubair Tiwana Muhammad Azam Sheikh Mehmood Hussain Jafari Muhammad Iqbal Muhammad Abid Raza Bodla Ms. Aiysha Khalid Karamatullah Khan ... Read More »