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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

Reduced procurement of local tobacco concerns Commerce Ministry

Commerce minister orders Pakistan Tobacco Board representatives to safeguard interests of tobacco growers     ISLAMABAD: Showing grave concerns over the reduced procurement of local tobacco by cigarette manufacturing companies, the Commerce Ministry has pressed the Pakistan Tobacco Board (PTB) to take measures to secure interests of tobacco growers. A source told Customs Today that a delegation of tobacco growers ... Read More »

FBR to review reduction in taxes on solar power plants

ISLAMABAD: The government has decided to promote solar energy to overcome energy crisis. Federal Board of Revenue (FBR) Chairman Tariq Bajwa had called a meeting on Saturday in which the federal industries secretary participated. The agenda of the meeting was to review the reduction in taxes regarding solar power plants. Reduction in prices of solar energy products is also expected. Read More »

FBR rejects request to keep Islamabad dry port open for 7 days a week

ISLAMABAD: The Federal Board of Revenue (FBR) has rejected the Model Customs Collectorate Islamabad’s suggestion to keep the Islamabad Dry Port open for seven days a week. The Cargo Agents Association had urged the MCC Islamabad to cancel the weekly holiday. The association had said that the importers would get one extra day to clear their goods and would have ... Read More »

Ministry of Overseas Pakistanis gets over Rs 1.40b for Kuwait war affectees

ISLAMABAD: The Ministry of Finance provided over Rs 1.40 billion to Ministry of Overseas Pakistanis and Human Resource Development (OP&HRD) for distribution among Kuwait affectees, Customs Today learnt. On August 2, 1990, Iraqi forces invaded Kuwait and quickly gained control of the country and according to an estimated figure,e about 90,000 Pakistanis including their family members were living in Kuwait ... Read More »

Pakistan Yarn Association delegation meets FBR chairman Bajwa

ISLAMABAD: The delegation of Pakistan Yarn Merchant Association met Chairman Federal Board of Revenue (FBR) Tariq Bajwa at the Headquarter of the Department on Friday. The delegation told the Chairman their problems of taxes, duties, drawbacks and refunding in the meeting. Read More »

NA body on Finance holds ZTBL’s loan policy responsible for food shortage

ISLAMABAD: The flawed loan policy of the Zarai Taraqiati Bank Limited (ZTBL) is the main reason for food deficit in the country which led to forced import of agricultural products, the National Assembly Standing Committee on Finance opined. The ZTBL claims to be dedicated to serve the need of forming community, by delivering financial products and technical services on competitive and ... Read More »

Filing of less number of tax returns worries FBR

ISLAMABAD: Despite repeated extension in deadline for filing of tax returns, the FBR collected only 500,000 returns until December 3, 2014 against 850,000 in 2013. The filing of less number of returns has perturbed the FBR and Chairman Tariq Bajwa has written letters to parliament, government departments and ministries and asked all cadre employees and parliamentarians to submit their returns. ... Read More »

FBR gets PC-I approved for Inland Revenue offices in 30 cities

  FBR Member Admin Shahid Jatoi, Chief Admin Iqbal Khan and Dr Yousfani have rendered strenuous efforts in getting PC-1 approved for Rs 500m infrastructure development     ISLAMABAD: With a special interest of Federal Board of Revenue (FBR) Member Admin Shahid Jatoi, the board has got approved PC-1 for Rs 500 million infrastructure development by the Central Development Working ... Read More »

FBR Chairman Bajwa reviews regulatory authority on WEBOC

ISLAMABAD: An important meeting under the chairmanship of Federal Board of Revenue Chairman Tariq Bajwa was held regarding regulatory authority on Web Based One Customs (WEBOC) software. The meeting was attended by secretaries of Economic Affairs Division, Commerce, National Food Security, P & NR Health and Narcotics Sector. The meeting reviewed inclusion of all those government organizations in WEBOC which ... Read More »

Ginners want TCP to expedite procurement of cotton

Dastgir assures PCGA to take up issues with Finance Minister Ishaq Dar     ISLAMABAD: Commerce Minister Khurram Dastgir Khan has assured the Pakistan Cotton Ginners Association (PCGA) to take up their issues with Finance Minister Ishaq Dar. “The minister has also asked the PCGA to submit detailed list of their problems and issues to the ministry for further minute ... Read More »

FBR struggling to increase tax collection, broaden tax base: World Bank

NEW YORK:  The latest World Bank study says that the Federal Board of Revenue (FBR) is struggling to increase the tax collection and broaden the tax base. Till November 21, only 525,000 people filed income tax returns, 33% lower than the number in the previous fiscal year, further shrinking the base. The FBR is heavily relying on indirect taxation to ... Read More »

PTCL properties: Etisalat yet to pay $799.3 million to Pakistan

ISLAMABAD:  Despite transferring of 99 percent properties of privatised Pakistan Telecommunication Company Limited (PTCL) to Etisalat International Pakistan (EIP), a huge amount $ 799.3 million is still lying outstanding with EIP. The PTCL no doubt is one of the strongest corporate enterprises not only in Pakistan but also in Asia.  “Out of total 3,248 properties, 3,217 have been transferred which ... Read More »

Islamabad collectorate collects Rs 1.28 billion in Nov

ISLAMABAD: The Model Customs Collectorate has collected Rs 1.28 billion, which is double than Rs 648.40 million target set by the Federal Board of Revenue for November. Rs 578.65 million had been collected in the corresponding period of the previous fiscal year 2013-2014. The customs duty target was Rs 332.04 million in the current fiscal year while Rs 433.54 million ... Read More »

FBR prepares list of 217 incompetent officials

ISLAMABAD: The Federal Board of Revenue (FBR) three tiers have prepared a list of 217 officials comprising principal appraisers, appraisers and superintendents that got promotions on intercession. They did not give output throughout their services. The list has been prepared after scrutiny of confidential record received from field formations. Earlier, the FBR high-ups had decided to suspend them from service, ... Read More »

Rs60b shortfall in 5 months: FBR sets Rs286b revenue target for Dec

ISLAMABAD: Federal Board of Revenue (FBR) has set Rs286 billon revenue collection target for the current month of December 2014, amid the Rs60 billion revenue collection shortfall. FBR has collected Rs900 billion from July to November during the ongoing financial year against the target of Rs960 billion leaving shortfall. Sources said that FBR could not meet the first half target ... Read More »

Customs Intelligence introduces software to computerise system

ISLAMABAD: The Directorate of Customs Intelligence and Investigation has decided to computerise the entire system. Customs Intelligence and Investigation Director General Lutfullah has issued orders to the officials concerned to design the Competence Intelligence Monitoring System (CISM). A workshop was held to introduce the system. Lahore Customs Intelligence Additional Director Rizwan Basharat gave presentation on the occasion. MCC Additional Collector ... Read More »

FBR transfers six officials

ISLAMABAD: The Federal Board of Revenue (FBR) has transferred six superintends of the Model Customs Collectorate to the Department of Internal Audit. The board has sent them from Field Formation to Internal Audit. Those transferred are: Rao Javed Ali, Ishaq Kiani, Nasir Naseer, Laal Khan, Ibrar Satti and Furqan Mehmood. Read More »

Commerce ministry, Dry Ports Association meeting to discuss outstanding issues today

ISLAMABAD: The Ministry of Commerce (MoC) and All Pakistan Dry Ports Association (APDPA) are going to join heads to seek solution to outstanding issues confronted by the APDPA from tax, customs and other relevant authorities. Considerable delay in refund of rebate claims, WeBOC system, ruthless rechecking by ANF, frequency of rechecking of custom bonded exports consignments, insufficient and untrained staff ... Read More »

Investment in Pensioners Benefit Account soars up Rs 41.15b in 3 years

ISLAMABAD: The retired government employees invested a huge amount of Rs 41.15 billion in Pensioners Benefit Account (PBA) scheme launched by the government to promote national savings during last three years. Only pensioners of the Federal Government, Provincial Governments, Government of Azad Jammu & Kashmir, Armed Forces, and Semi Government and Autonomous bodies are eligible to invest in the PBA. The current ... Read More »

Over 1.2m Pakistanis move abroad in two years

ISLAMABAD: More than 1.2 million Pakistanis went abroad for employment in last two years: 2013 and 2014. More than half of the total people heading abroad hailed from Punjab. A well-placed source at the Ministry of Commerce (MoC) told this scribe here the other that MoC had been thriving for sending more and more skilled labour abroad to earn foreign ... Read More »