Thursday , April 27 2017
Breaking News
Home / Islamabad


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

NA body advises FBR to consult stakeholders for revival of value-added textile industry


ISLAMABAD: The Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatization of the National Assembly has directed the Federal Board of Revenue to resolve the matter pertaining to Phthalate Anhydride (PA), Di-Octyle Phthalate and Alkyd Resin in consultation with the Stakeholders. The meeting was held in the Committee Parliament House Islamabad under the Chairmanship of Qaiser Ahmed Shaikh, MNA. ... Read More »

Pakistan, Bulgaria sign avoidance of double taxation treaty


ISLAMABAD: Pakistan and Bulgaria have signed the agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income (ADTA) after the conclusion of second round of negotiations here. The initiating ceremony was overseen by Federal Board of Revenue (FBR) Chairman Dr Muhammad Irshad and Ambassador of Bulgaria to Pakistan Roumen Pirontchev, a press statement ... Read More »

DG I & I-IR receives host of suspicious transaction reports from Financial Management Unit

An employee checks U.S. dollar bank-notes at a bank in Hanoi, Vietnam August 12, 2015.  Vietnam has widened the trading band for interbank dollar/dong transactions to 2 percent from 1 percent previously to help boost the competitiveness of Vietnamese goods, the central bank said on Wednesday. REUTERS/Kham - RTX1O0Q4

ISLAMABAD: The Directorate General Intelligence and Investigation Inland Revenue has received reports from the Financial Management Unit (FMU) Karachi on a host of suspicious transactions. After receiving the reports, Director General Intelligence and Investigation IR Kh Tanveer Ahmad has informed Federal Board of Revenue Chairman Dr Muhammad Irshad that a dedicated unit would be established within the I&I inland revenue ... Read More »

Govt grants tax exemption on import of Vitamin A capsules

Bangladesh frozen food exporters seek tax cut in upcoming budget

ISLAMABAD: Prime Minister Nawaz Sharif has given the final approval of tax concession on the import of Vitamin A capsules in the country. Tax concession on the import of Vitamin A capsules will be available for three years. Sources told Customs Today that to meet the supply and demand of the Vitamin A capsules currently UNICEF is importing these capsules. ... Read More »

Customs Intelligence detains non duty paid BMW from Chinese citizen


ISLAMABAD: Directorate General Customs Intelligence and Investigation Federal Board of Revenue special car cell has detained a non duty paid BMW car Model 2004 value Rs 5.3 million. According to the sources on tip off, staff of special car cell intercepted a non duty paid BMW car bearing Islamabad registration No. ICT MF 763, at sector F-8, Islamabad, from the ... Read More »

FBR likely to announce amnesty scheme for foreign assets holders


ISLAMABAD: In bid to broaden tax net in the country, Federal Board of Revenue (FBR) is likely to announce an amnesty scheme for Pakistanis to declare their foreign assets by paying a nominal tax. This was revealed by FBR Chairman Dr Muhammad Irshad during the National Assembly Standing Committee on Finance and Revenue meeting held under the chairmanship of its ... Read More »

IHC directs parties to submit record on plea filed by Pakistan Tobacco Company Ltd


ISLAMABAD: A division bench of Islamabad High Court directed parties to submit record on the case filed by M/s Pakistan Tobacco Company Limited.  The bench, comprising Justice Aamer Farooq and Justice Miangul Hassan Aurangzeb heard the case. M/s Pakistan Tobacco Company Limited had filed the reference in which the company had challenged a show cause notice issued by the Large ... Read More »

FBR’s field offices to remain open on April 29 for revenue collection


ISLAMABAD: Federal Board of Revenue (FBR) has directed all field offices of Inland Revenue to observe Saturday, April 29, 2017 as normal working day for collection of duty and taxes. In a directive, all the chief commissioners of Large Taxpayers Units, Regional Tax Offices and Corporate Regional Tax Offices have been directed that all the field offices would remain open ... Read More »

FST seeks reply from FBR on petition filed by FBR employees


ISLAMABAD: A division bench of the Federal Service Tribunal (FST) on Wednesday redirected the Federal Board of Revenue (FBR) to submit a reply before the tribunal in cases seeking grant of time-scale. The bench, comprising Syed Rafique Hussain and Syed Muhammad Hamid, heard the cases filed by the FBR employees. The bench sought board’s reply on a number of matters ... Read More »

Raja Hasan appointed as Member Technical (BS-21)


ISLAMABAD: The Ministry of Law and Justice Pakistan has notified the appointment of Raja Hasan Abbass as Member Technical (BS-21) at the Federal Service Tribunal. The appointment was made by the federal government. The appointment was made for the period of three years. Earlier, the Ministry of Law and Justice Pakistan has notified the appointment of Agha Shahid Majeed as ... Read More »

Muhammad Saleem made DG (OPS) of Customs Reforms & Automation


ISLAMABAD: Muhammad Saleem, a BS-20 officer of Pakistan Customs Service, on return from National Management Course (NMC), has been transferred and posted as Director General (OPS), Directorate General of Reforms & Automation (Customs), Islamabad, with immediate effect and until further orders. According to the notification, if the officer is drawing performance allowance, he will continue to draw this allowance on ... Read More »

No new taxes in next federal budget: Dar


ISLAMABAD: Finance Minister Ishaq Dar has said that the government will not impose new taxes in forthcoming budget. According to state run Radio Pakistan, Dar said this while addressing a press conference in Washington. He said that government of Pakistan is making efforts to achieve the GDP growth target of over five percent this year and was hopeful to achieve ... Read More »

Customs Appellate Tribunal chairman to resume hearing of cases from May 2


ISLAMABAD: Customs Appellate Tribunal Chairman Justice (r) Malik Manzoor Hussain would resume proceedings at Islamabad headquarters by coming Tuesday. The chairman would visit the tribunal’s headquarters in the capital for three days from May 2 to 4. During his stay at the headquarters, the chairman would hear a plenty of cases challenging announcements from field offices of Federal Board of ... Read More »

IHC adjourns hearing of case filed by M/s Wateen Telecom Limited


ISLAMABAD: The Islamabad High Court (IHC) on Tuesday dated in office the hearing of M/s Wateen Telecom Limited’s reference challenging a recovery claim of outstanding tax made by field office of the Federal Board of Revenue (FBR). A division bench of the IHC comprising Justice Athar Minallah and Justice Miangul Hasan Aurangzeb heard the matter. M/s Wateen Telecom Limited had ... Read More »

Govt to set FBR’s tax collection target at Rs4 trillion for next FY


ISLAMABAD: The government may fix the country’s GDP growth at 6.2 percent and budget deficit at 4 percent for the next financial year 2017-18. “The broad contours of the budget are almost ready, which will be presented to the federal cabinet for approval after the return of Finance Minister Ishaq Dar from the United States,” said an official of the ... Read More »

FBR, SECP launch modified Virtual One-Stop Shop portal


ISLAMABAD: Federal Board of Revenue (FBR) and Securities and Exchange Commission of Pakistan (SECP) have launched modified Virtual One-Stop Shop (VOSS) portal for integrated company and tax registration. The SECP assumed the ownership of the VOSS project in September 2016, and 446 companies registered under eServices were allotted national tax numbers between March 6 and April 4, 2017. VOSS is ... Read More »

FBR says more than Rs300b recovery cases pending in courts


ISLAMABAD: Federal Board of Revenue (FBR) has apprised the Public Accounts Committee (PAC) of Parliament that over Rs.300 billion recovery cases were pending before the courts due to stay orders. The committee which met here with Acting Chairman Sardar Ashiq Hussain Gopan reviewed audit paras of FBR for fiscal year 2013-14. Briefing the committee FBR chairman Dr Muhammad Irshad told ... Read More »

FIA, ANF, Customs to ‘facilitate’ foreign hunter: Nisar

nisar khan

ISLAMABAD: Interior Minister Chaudhry Nisar Ali Khan has approved Standard Operating Procedures (SOPs) for foreign delegations and their accompanying staff who visit Pakistan for hunting of houbura bustards purposes. The formulated SOPs have been forwarded to concerned ministries, foreign embassies in Pakistan and Pakistani foreign missions abroad. Federal Investigation Agency (FIA) Anti-Narcotics Force (ANF), Customs, and local administration would make ... Read More »

ASO impounds 1146 mobile-phones & vehicle worth Rs8.507m

ASO impounds 1146 mobile-phones & vehicle worth Rs8 507m copy

ISLAMABAD: The Anti-Smuggling Organization (ASO) Islamabad seized 1146 smuggled Q-Mobiles along with an offending vehicle worth Rs8.507million. Following a tip-off, the ASO intercepted a Suzuki Pickup Ravi with a registration No: RIS-16-2659 near Islamabad Motorway. The ASO team asked the possessor of Mobile phones to show the Goods Declaration (GD) but he failed to satisfy the ASO Customs staff. The ... Read More »

Dr Irshad exhorts FBR officers to step up efforts to meet revenue target

Dr Irshad

ISLAMABAD: Federal Board of Revenue Chairman Dr Muhammad Irshad has exhorted the FBR officers posted in field formations to step up their efforts and work to the best of their abilities in the next couple of months to meet the revenue collection target set for the year. “I know it is a gigantic task but time and again the FBR ... Read More »