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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

Budget to be announced not earlier than May 24: Hafeez Shaikh

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ISLAMABAD: Newly-appointed Adviser to Prime Minister on Finance, Revenue and Economics Affairs Division Dr Abdul Hafeez Shaikh revealed that he had already spoken to finance ministry officials regarding the budget for the next fiscal year. He expressed these views in his first interaction with the media since being appointed the prime minister’s adviser on finance, revenue and economic affairs. Speaking ... Read More »

Abdul Hafeez Sheikh takes charge as finance adviser

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ISLAMABAD: Newly-appointed adviser on finance Dr Abdul Hafeez Sheikh took charge of his post on Saturday. The finance adviser will also have the charge of Revenue and Economic Affairs Division. Sheikh’s designation will be at par with that of a federal minister. Sheikh, a Pakistani political economist of international repute with over 30 years of experience, has served as the ... Read More »

Ex-ACE DG Hussain Asghar recommended as deputy chairman of NAB

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ISLAMABAD: National Accountability Bureau (NAB) Chairman on Saturday in a summary forwarded to President Arif Alvi, recommended the appointment of Hussain Asghar as the deputy chairman of the bureau In this regard, the president will approve his appointment after reviewing the summary. Asghar is the former Director General of the Anti-Corruption Establishment (ACE) in Punjab, and performed his duties from ... Read More »

OGRA to hike fines on OMCs due to violation of law: Uzma Adil

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) is planning to revise upwards the amount of fine on oil marketing companies (OMCs) and refineries for violating rules. At present, Ogra can impose fines of up to Rs10 million on the OMCs and refineries which flout the law. “The amount of fine imposed on oil marketing companies and refineries is low ... Read More »

NAB Court approves remand of ex-secy Shahid Rafi till April 22

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ISLAMABAD: An accountability court on Saturday handed over former federal secretary Shahid Rafi to the National Accountability Bureau (NAB) on physical remand till April 22 (Monday) in a rental power case. NAB officials produced the arrested accused before the accountability court and demanded his physical remand for interrogation. The court granted physical remand of Rafi until Monday and directed the ... Read More »

CPEC made Pakistan ideal destination for trade, investment: President Alvi

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ISLAMABAD: President Dr Arif Alvi Thursday said China Pakistan Economic Corridor (CPEC) project had made Pakistan an important destination for global trade and investment. Talking to a delegation of International CPEC Workshop organized by National Defence University at Aiwan-e-Sadr, he said the government attached great importance to the socioeconomic development of country. He said development of Special Economic Zones (SEZs) ... Read More »

NAB chairman directs DGs to conduct complaint verification on solid evidence

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ISLAMABAD: National Accountability Bureau (NAB) Chairman Justice (r) Javed Iqbal has said that the anti-graft organization is committed to eradicate corruption with absolute professionalism, transparency and on merit with iron hands. He was presiding over a meeting at NAB headquarters on Friday. He said NAB’s main focus is on mega corruption cases including money laundering and embezzlement of state funds. ... Read More »

FBR imposes ban on leaves of tax officials’ till June 30

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ISLAMABAD: Federal Board of Revenue (FBR), Secretary (Mgt-IR-I) has issued circular for imposing immediate ban on its officials for availing any kind of leave, including ex-Pakistan. The circular stated that it had been observed with concern that the field formations of FBR are forwarding requests for grant of leaves, including ex-Pakistan leaves on daily basis despite the fact that the ... Read More »

FBR holds meeting with WB to review reforms on Ease of Doing Business

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ISLAMABAD: Federal Board of Revenue (FBR) held a meeting with World Bank (WB) and reviewed the tax reforms introduced by FBR to promote ease of doing business for medium and small-sized companies. During the meeting the FBR officials briefed the World Bank team about the launch of e-payment of taxes through alternate delivery channels, which came into effect in March ... Read More »

Food exports dip 2.4pc during nine months of FY2019

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ISLAMABAD: The food exports from the country witnessed a negative growth of 2.4 per cent, as it went down to $3.34 billion during the first three quarters of the ongoing fiscal year (FY19) as compared to the exports of $3.43 billion during the corresponding period of FY18, Pakistan Bureau of Statistics (PBS) reported. The food commodities that contributed in the ... Read More »

Dr Hafeez Sheikh appointed finance adviser in major cabinet reshuffle

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ISLAMABAD: The Prime Minister’s Office announced a major reshuffle of the federal cabinet today, with key portfolios of the finance, interior and information ministries seeing new faces. Prime Minister Imran Khan on Thursday appointed Dr Hafeez Sheikh as Adviser on Finance. Dr Abdul Hafeez Shaikh is an internationally renowned economist with more than 30 years of experience in economic policymaking, management ... Read More »

Supreme Court hears case on NAB’s voluntary return rules

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ISLAMABAD: A Supreme Court bench on Thursday heard a case on the voluntary return rules of the National Accountability Bureau (NAB). Three-member bench headed by Justice Sheikh Azmat Saeed heard the case. Justice Azmat Saeed observed during the hearing that one of the questions to be decided is whether to discuss the previous decisions or not and another issue is ... Read More »

NAB arrests Iqbal Noori Director of M/s Parthenon Pvt Ltd involved in corruption

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RAWALPINDI: National Accountability Bureau (NAB) Rawalpindi arrested accused Muhammad Iqbal Khan Noori, Director of M/s Parthenon Pvt Ltd in case of investigation against the holders of public office, legal persons and others in fake bank accounts scam regarding corruption and corrupt practices in extending of loan and its misappropriation by front company M/s Parthenon Private Limited of M/s Park Lane ... Read More »

Tarin, Dr. Ishrat, Salman Shah, Hafeez Shaikh & Shamshad Akhtar strong candidates for replacing Asad Umar

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ISLAMABAD: Asad Umar has announced that he will no longer be part of Prime Minister Imran Khan’s federal cabinet. In a tweet on Thursday, Umar said Prime Minister Imran Khan had offered him the energy minister portfolio instead of finance as part of a cabinet reshuffle. “As part of a cabinet reshuffle PM desired that I take the energy minister ... Read More »

Asad Umar leaves cabinet after being offered energy instead of finance ministry

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ISLAMABAD: Asad Umar on Thursday announced his decision to leave the federal cabinet. “As part of a cabinet reshuffle PM desired that I take the energy minister portfolio instead of finance. However, I have obtained his consent to not take any cabinet position. I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshallah will make a naya Pakistan,” ... Read More »

NAB law needs revision for businessmen to be free of fear: Asad Umar

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ISLAMABAD: Finance Minister Asad Umar said the National Accountability Bureau’s (NAB) law needed revision given the fear it has lately instilled in the Pakistani business community. Talking with media, Umar acknowledged that the anti-graft watchdog has started probing the business sector now and was taking action, and that many businesspersons are now fearful of impending doom at its hands. The ... Read More »

Islamabad Collectorate surpasses target of customs duty collection: ADC Ashfaq Khan

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ISLAMABAD: Collectorate of Customs Additional Collector Ashfaq Khan said that MCC has achieved assigned revenue target of customs duty and taxes allocated for month of March FY18-19 while the Collectorate surpassed assigned revenue collection target by 14% during first 9 months. Talking with Customs Today during an exclusive interview, he said that Model Customs Collectorate has enhanced its vigilance to ... Read More »

FBR issues new instructions to banks regarding cash withdrawal

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ISLAMABAD: Federal Board of Revenue (FBR) issued new instructions to banks regarding providing details of cash withdrawal by filers and non-filers. The FBR issued SRO 469(I)/2019 dated April 17, 2019 to amend SRO 1165(I)/2018 dated September 28, 2018. The amendment has been made regarding amount deducted on cash withdrawal from banks by filers and non-filers during a month. Through SRO ... Read More »

FBR proposes three to four rates for tax amnesty scheme

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ISLAMABAD: Federal Board of Revenue (FBR) has proposed three to four different rates for legalization of undisclosed assets, held domestically and abroad and unexplained income and expenditure under the proposed Assets Declaration and Amnesty Scheme-2019. Sources told Customs Today that the FBR has proposed three to four options in terms of conditions and rates for the tax amnesty scheme and ... Read More »

FIA team raids two money changers involved in dollar hoarding

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ISLAMABAD: Federal Investigation Agency’s (FIA) team on Thursday raided two offices operated by currency exchange companies in Islamabad’s F-10 Markaz and Blue Area as part of a wider crackdown against dollar hoarding and money laundering. The teams seized records, foreign currency and millions of rupees in cash from the two outlets as they had been operating without a license, FIA ... Read More »