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Author Archives: Mahmood Idrees

Customs Land Freight Unit at Wagah Border collects Rs 483 million revenue in Jan

wagha-border

LAHORE: Pakistan Customs Land Freight Unit at Wagah Border Lahore has collected nearly Rs 483 million revenue during January 2015 under the head of sales tax, duty tax and income tax. Pakistan Customs has collected Rs 136.531603 million as duty tax, Rs 163.204931 million as sales tax. On the other hand, Pakistan and India made trade worth Rs 4.53 billion ... Read More »

Pakistan trade deficit with India stands at Rs 2.582b in Jan

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LAHORE: Pakistan Customs Land Freight Unit Wagha border Lahore has collected Rs 483 million revenue during January 2015 in the head of sales tax, duty tax and income tax. As per available documents, Pakistan Customs has collected Rs 136531603 as duty tax, Rs 163204931 as sales tax, Rs 11518345 as additional sales tax and Rs 171171410 as income tax during ... Read More »

Govt cuts Rs 7.99 oil prices, increases sales tax to 27%

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LAHORE: Federal Government cut oil prices while the Federal Board of Revenue increased sales tax rate on petroleum products. Prime Minister Nawaz Sharif slashed oil prices while addressing a passing out parade of Counter Terrorism Force. He declared Rs 70.29 per liter price of petrol price with reduction of Rs 7.99 per as the old price was 78.28 per liter. ... Read More »

FBR reshuffles BS-17 and BS-18 officers, appoints 42 probationary officers

RTO ofices

LAHORE: The Federal Board of Revenue (FBR) has reshuffled several BS-17 and BS-18 officers and also appointed probationary officers. As per details, the FBR has transferred Regional Tax office (RTO) Lahore Inland Revenue (IR) Additional Commissioner Iram Shabbir to RTO Multan, RTO Sukkur Additional Commissioner M Akbar Mahar to RTO Karachi, RTO Lahore Deputy Commissioner Faisal Asghar to RTO Faisalabad, ... Read More »

FBR to discontinue performance allowance for non-filer officials

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LAHORE: The Federal Board of Revenue has again given deadline to the FBR officials regarding the declaration of assets to avoid the cancellation of performance allowance. As per notification, a number of officers have still not submitted their declaration of assets despite the twice reminders. The FBR has issued circular regarding the declaration of assets on August 5 and November ... Read More »

FBR chairman distributes certificates among probationary officers

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LAHORE: Federal Board of Revenue Chairman Tariq Bajwa attended certificates’ distribution ceremony here at Regional Tax office Lahore on Saturday. A closing ceremony of 41th Special Training Programme was arranged to distribute the certificates and degrees among the probationary officers on successful completion of their training programme at Inland Revenue Directorate of Training Lahore. Chairman Bajwa was chief guest of ... Read More »

TDAP to organise 3rd Aalishan Pakistan exhibition in London in May

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LAHORE: The Trade Development Authority of Pakistan has asked business community to participate in 3rd edition of Aalishan Pakistan in London. TDAP is giving traders an opportunity to showcase their products and develop business with international buyers. Traders would also get access to the duty-free market of European Union under the GSP Plus status. In the exhibition Pakistani traders would present ... Read More »

Rs 2,810 billion target: Falling oil prices may push FBR to revise 2014-15 target

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LAHORE: Continuous decrease in petroleum prices can create hurdles for the Federal Board of Revenue to meet the Rs 2810 billion target for fiscal year 2014-15, an official told Customs Today. He also said a big chunk of revenue was collected from the petroleum sector. He said that falling petroleum prices in the international market would impact the revenue generation ... Read More »

Friendly atmosphere in FBR offices can help generate more revenue by attracting non-tax filers

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LAHORE: Abdul Waheed Shakir, a tax lawyer of the Lahore High Court (LHC), has said that the officials of the Federal Board of Revenue (FBR) should provide friendly atmosphere to taxpayers who come voluntarily instead of threatening them about penalties. Talking to Customs Today he said that the FBR could generate more revenue by facilitating the taxpayers. Most of traders ... Read More »

Retailers accepting only cash to avoid SRO 608

sales tax

LAHORE: Traders are adopting different strategies to avoid the registration under the controversial SRO 608 issued by the Federal Board of Revenue (FBR). Retailers including electronics retailers, grocery retailers and others were not accepting the credit or debit card of customer for payments as they have removed the machines to avoid the registration with the FBR. Retailers were accepting only ... Read More »

Doctors check quality of fresh items imported from India at Wagha Boarder

wagha border

LAHORE: All consignments of fresh and edible items imported via Wagha from India were examined properly to check the quality. Sources who run clearance process of consignments informed Customs Today that fresh items like potatoes, garlic, ginger, potatoes etc were imported into Pakistan via Wagha border that is only land route for trade between India and Pakistan. They said doctors ... Read More »

PYMA asks FBR to impose 15pc regulatory duty on import of Indian yarn

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LAHORE: The Pakistan Yarn Merchants Association (PYMA) has urged the FBR to impose 15 percent regulatory duty on the import of Indian cotton yarn as the high import of cotton yarn from New Delhi is not only hurting the local spinning industry but also causing loss to the national exchequer. Talking to Customs Today, PYMA Central Committee Member Saqib Naseem ... Read More »

FBR reshuffles 12 RTO Lahore officers

RTO ofices

  LAHORE: The Federal Board of Revenue (FBR) has reshuffled as many as 12 officers including two BS-18 and one BS-17 officers of Regional Tax Offices Lahore here the other day. The FBR transferred Inland Revenue Directorate of Intelligence and Investigation Lahore Deputy Director Muhammad Imran BS-18 to RTO Lahore as deputy commissioner IR. The Department transferred FBR Information Technology ... Read More »

Pakistan Customs destroys drugs, liquor at Wagha Border on International Customs Day

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LAHORE: The Pakistan Customs authorities have burnt drugs, smuggled goods and smashed dozens bottles of liquor at Wagha Border on the International Customs Day. The day is celebrated on January 26 every year under the World Customs Organization slogan. The slogan of the current year is Coordinated Border Management—An inclusive approach for connecting stakeholders. Pakistan Customs Central Region Chief Collector ... Read More »

Clerics, civil society praise FBR for disallowing import of Charlie Hebdo

FBR oficce

LAHORE: Clerics, civil society and customs officials praised the Federal Board of Revenue (FBR) for disallowing the import of French weekly Charlie Hebdo. As per details, the FBR has put curbs on the import of the French magazine and has directed the customs officials to confiscate the consignments of the magazine. It is mentioned in the official letter that the magazine ... Read More »

No Q3 revenue target assigned to FBR’s Lahore RTO

Reginal-Tax

LAHORE: The Federal Board of Revenue has not assigned the revenue target for the third quarter of current fiscal year 2014-15 to the Regional Tax Office Lahore. A source informed that earlier, per annum revenue targets were assigned to all regional offices but during current fiscal year FBR was assigning quarterly targets to field offices. He said that such kind ... Read More »

FBR yet to assign target for third quarter to RTO Lahore

Reginal-Tax

LAHORE: The Federal Board of Revenue (FBR) has not yet assigned the revenue target for the third quarter of current fiscal year 2014-15 to the Regional Tax Office (RTO) Lahore. Sources informed Customs Today, earlier, per annum revenue targets were assigned to all regional offices but during current Fiscal Year FBR is assigning quarterly targets to field offices. He said ... Read More »

Asad Munir Malik assumes charge as Deputy Commissioner at LTU Lahore

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LAHORE: Federal Board of Revenue (FBR) Inland Revenue Services officer Muhammad Asad Munir Malik has assumed the charge of Deputy Commissioner IR at Large Taxpayer Unit (LTU) Lahore. Malik has assumed the charge of BS-18 post after the orders of FBR Chairman Tariq Bajwa. The notification regarding the charge assumption was issued on Friday. There are also as many as ... Read More »

FBR urged to explore new sources of tax collections

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LAHORE: Then Federal Board of Revenue (FBR) can generate more revenue by exploring the new sources for tax such as website business and domestic manufacturers-cum-suppliers. An official said on anonymity condition said there were many sources to collect taxes that have not been investigated until now. He said in the age of technology, people were running business over websites and ... Read More »

FBR unit tells regional tax offices to locate non-filers, especially arm dealers

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LAHORE: The Broadening Tax Base Unit of the Federal Board of Revenue (FBR) has written letters to the regional tax offices to locate the non-filers in their jurisdictions. Sources told Customs Today that unit has asked the RTOs Lahore to find as many as nine  non-filers and check their records. There are some arms dealers in non-filers’ list, they added. ... Read More »