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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

Meeting of FBR Board-in-Council will be held tommorow

ISLAMABAD: Chairman Federal Board of Revenue Tariq Bajwa has called meeting of Board-in-Council on Thursday for permitting recruitment of 500 servants from grade 1 to 15, amendments in the performance allowance guideline and authenticating new allotment policy. A six point agenda has been designed for the meeting. Read More »

IHC to hear Controversial Statutory Regulatory Order case today

ISLAMABAD: A single member bench of Justice Aamer Farooq will hear the petition filed by Muhammad Mazhar Qayyum today at Islamabad High Court. The petitioner has challanged the Statutory Regulatory Order (SRO) issued by Federal Government on December 30, 2014 under which General Sales Tax (GST) on petrolium products has been increased by five percent. The petitioner has made Federation ... Read More »

Four Inland Revenue officers of BS 20-21 transferred

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted four Inland Revenue Service officers of BS 20-21 with mediate effect. As per the notification, the officers who are drawing performance allowance prior to issuance of this notification will continue to draw this allowance on the new place of posting. All the officers have been requested to relinquish/assume charge, using online HRMS ... Read More »

Pak-China FTA: Customs detects over 60 violations involving Rs 233.3 million

ISLAMABAD: Over 60 violations of Pak-China Free Trade Agreement (FTA), involving Rs 233.3 million, have been detected by the Customs Department of the Federal Board of Revenue at three major cities; Karachi, Lahore and Islamabad. The China-Pakistan FTA was singed in November 2006 which led to substantial increase in trade between Pakistan and China and majority of items being imported ... Read More »

FBR: Pakistan incurs Rs 21.8b loss as Chinese exporters granted tariff line concessions under FTA

ISLAMABAD: Pakistan has suffered a loss of Rs 21.8 billion due to tariff line concession granted to Chinese exporters under China-Pak Free Trade Agreement (FTA) in last fiscal year. The free and preferential trade agreements became the main tool for trade liberalisation with post Doha stalemate at World Trade Organization (WTO), and besides having political dimensions main purpose of these ... Read More »

North Korea keen to enhance trade ties with Pak: Ambassador

      ISLAMABAD: North Korea has formulated a new policy with major focus on reducing tensions and improving economy and it wants to expand trade ties with Pakistan, said Ro Kyong Chol, Ambassador, Democratic Republic of Korea while exchanging views with business community at Islamabad Chamber of Commerce and Industry. He said Pakistan and Korea had signed a trade ... Read More »

FBR collects Rs87 billion in first 15 days of 2015

ISLAMABAD: Federal Board of Revenue has collected 87 Billion Rupees in the first 15 days of the year which is a record increase. The collection has increased by 13 percent from last year. FBR Chairman Tariq Bajwa said that FBR is working as a team and putting efforts to detect tax evasion at all levels. He further said that if ... Read More »

Bidding firms fail to submit required documents for e-monitoring systems to FBR

ISLAMABAD: Joint venture companies that applied for installation of electronic monitoring system on the manufacturing premises of excise commodities failed to submit the supportive documents essential under the qualification criteria to Federal Board of Revenue. Official sources told Customs Today that qualification requirements of firms are evaluated in the first stage of bidding process. The supportive documents under qualification criteria ... Read More »

Five Customs Ex-Cadre officers promoted to Deputy Chemical Examiners BS-18

ISLAMABAD: Federal Board of Revenue (FBR) has promoted five Assistant Chemical Examiner (BS-17) officers of Customs Ex-Cadre to Deputy Chemical Examiners (BS-18) in their Group on regular basis with immediate effect. According to the notification, the officers who are drawing performance allowance will continue to draw the same after promotion. Sr. No. Name Ghazala Afroz Amber Rashid Munir Ahmad Shahid ... Read More »

22 Customs officers promoted to BS-18

ISLAMABAD: Federal Board of Revenue has promoted 22 officers of Pakistan Customs Service to BS-18 in their Group on regular basis with immediate effect. The officers, who are drawing performance allowance, will continue to draw the same after promotion.       Sr. No. Name of officer Muhammad Saeed Watto Suleman Yaqub Khan Adeem Khan Rana Irfan Shaukat Sabir Jamal ... Read More »

FBR, traders finalise recommendations to amend SRO 608

ISLAMABAD: A committee, comprising Federal Board of Revenue and traders representatives, has finalized the suggestions to amend the SRO 608. FBR Chairman Tariq Bajwa and members of committee Mian Abdul Mannan and Pervez Malik will soon meet Finance Minister Ishaq Dar to present the recommended amendments in SRO 608. Member committee Mian Abdul Manan told Customs Today that the issue ... Read More »

Chairman FBR calls meeting of Board-in-Council on 22nd Jan

ISLAMABAD: Chairman Federal Board of Revenue Tariq Bajwa has called meeting of Board-in-Council on Thursday, January 22. Bajwa will chair the meeting in which important decisions will be taken. According to FBR sources, decisions about Administration, Inland Revenue and Information Technology would be taken, especially the issue of Internal Job Posting of Administration will be listed on top in meeting ... Read More »

Senate body dissatisfied over release of $68m to Export-Import Bank of China

ISLAMABAD: Showing complete dissatisfaction over the briefing given by the Ministry of Finance on the on release of $68 million as per agreement with Export-Import (EXIM) Bank China, the Senate Standing Committee on Finance and Revenue on Monday sought a complete report onthe subject which had caused loss of millions of dollars to the national kitty. The members were of ... Read More »

FBR orders to start desk audit of 0.8 million tax filers of 2014

ISLAMABAD: Federal Board of Revenue has issued orders to regional tax officers and large tax payer units to start desk audit of around 0.85 million tax filers. According to the sources FBR wrote letters to 18 regional tax offices and to Chief Commissioners of three large tax payer units and asked them to cross match the data provided by tax ... Read More »

Appellate Tribunal allows Mohtasibs to take notice of maladministration in FBR

ISLAMABAD: Appellate Tribunal Inland Revenue ruled in a judgment that Wafaqi Tax Mohtasibs can take notice of any maladministration in any wing of Federal Board of Revenue and suggest suitable, strong measures to curtail maladministration. Sources told Customs Today that Appellate in its verdict said that the appellant may file a complaint before the Mohtasib’s Federal Tax Ombudsman. The forum has several ... Read More »

SECP declares 2308 companies tax defaulter

ISLAMABAD: Security Exchange Commission of Pakistan has revealed the names of tax evading companies. According to SECP report the information has been shared with FBR after complete investigation. SECP has investigated 7444 companies till now, out of which 2308 companies have not filed their tax returns. Read More »

ATIR received 29625 pending tax appeals; FBR reports 5758

ISLAMABAD: There is a huge difference in the number of pending appeals pertaining to tax cases when FBR’s data is compared with data of Appellate Tribunal Inland Revenue. Sources told Customs Today that FBR”s field formations reported about 5,758 pending appeals for Tax Year 2012 and Tax Year 2013 with the Appellate Tribunal Inland Revenue whereas Chairman ATIR reported 29,625 ... Read More »

Weak audit and un-documented economy fails USAS in Pakistan: FBR

ISLAMABAD: Senior Member Federal Board of Revenue and Inland Revenue Policy Shahid Hussain Asad said that the Universal Self Assessment Scheme is not successful in Pakistan due to un-documented economy and absence of strong audit, USAS requires documentation and exemplary audit to make self assessment a success. Talking to Customs Today Spokesperson FBR said income declared under the USAS is ... Read More »

Annual increment of Commissioner-IR withheld for two years over inefficiency, misconduct

ISLAMABAD: The annual increment of Rajabuddin, Commissioner-IR (BS-20), Regional Tax Office, Bahawalpur, has been withheld for a period of two years on the charges of inefficiency and misconduct. As per details, the competent authority appointed Dr Muhammad Irshad (IRS/BS-21) as inquiry officer with the task to scrutinise the conduct of officer on the charges of inefficiency, misconduct and corruption. The ... Read More »

Energy crisis, war on terror main reasons for slow growth rate of exports

ISLAMABAD: The Commerce Ministry has said energy crisis and the ongoing war on terror are major reasons behind slow growth rate of Pakistan’s exports. “It is a fact that there was imbalance between imports and exports of the country during the last two years,” a ministry source told Customs Today on Saturday. He added that the magnitude of imbalance shrank ... Read More »