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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

Banking Court restores 18 criminal complaints against Omni Group

Symbol of law and justice in the empty courtroom, law and justice concept

KARACHI: The Banking Court Judge Saad Qureshi has restored more than a dozens of criminal complaints filed against Anwar Majeed, Chief Executive Officer (CEO) of Omni Groups, his sons and others co-accused persons, who are booked in 20 criminal complaints filed by Summit Bank, Sindh Bank and National Bank of Pakistan for sold out stock of sugar reserved as bank ... Read More »

Customs Court approves interim charge sheet against M/s China Gift Centre & others

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KARACHI: The Customs Court accepted interim charge sheet against Muhammad Idress son of Malik Abdul Majeed, proprietor of M/s China Gift Centre, Muhammad Hamza, Muhammad Idress, Muhammad Ali, Muhammad Yasin, Qaiser Abbas, Muhammad Ahsan and others, who are booked in a case of mis-declaration of goods in respect of description, PCT heading and quantity. On October 12, 2019, investigation officer ... Read More »

Mis-declaration: Appraisement West submits FIR against M/s Eastern Rags, M/s Aftab Alam

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KARACHI: Collectorate of Customs Appraisement West submitted first informed report (FIR) before the Customs Court against suspects namely Irfan Bhatti, proprietor of M/s Eastern Rags, Sarfaraz Alam, proprietor of Aftab Alam, Adeel Arshad and others, who were nominated in a case of mis-declaration of description, weight, quantity and value. On October 11, 2019, investigation officer informed the court that a ... Read More »

NAB Court issues non-bailable arrest warrants of Agha Siraj Durrani’s family

Agha Siraj Durrani

KARACHI: An accountability court on Saturday issued non-bailable arrest warrants for Sindh Assembly Speaker Agha Siraj Durrani. During today’s proceedings, the court ordered to speed up the trail against Durrani, who was arrested by National Accountability Bureau (NAB) earlier this year in cases pertaining to illegal appointments, accumulating assets beyond means. The court said that if the fugitives were not ... Read More »

Digitlisation will allow consumers to make payments through mobile phones: Reza Baqir

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KARACHI: The State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Thursday said that the administration is making efforts to promote bank sectors. Dr Reza Baqir, while addressing a seminar regarding economic challenges, announced that the system is being converted to digitisation which is an easy and documented solution. “The digitisation will allow consumers to make payments through their ... Read More »

SHC calls comments on petition against detention of imported consignments

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KARACHI: The Sindh High Court (SHC) directed customs department and deputy attorney general to file their respective para wise comments on a petition filed by M/s A.H Pirani Enterprises and M/s Diamond Impex Corporation against detention of their imported consignments of PVC Tape log rolls due to disputed valuation. On October 9, 2019, a two-member bench, headed by Justice Aqeel ... Read More »

FBR chairman, Japanese envoy inaugurate 3 NII container scanning terminals

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KARACHI: The Government of Japan has extended assistance to Pakistan Customs and Federal Board of Revenue (FBR) for the establishment of three Non-Intrusive Inspection (NII) Containers Scanning Terminals at East and West Warf in Karachi Port and Port Bin Qasim. Under the Japanese grant assistance, Japan International Cooperation Agency (JICA) implemented “The Project for Security Improvement in Port Karachi and ... Read More »

NAB Court sends clearing agents to jail involved in tax evasion scam

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KARACHI: The National Accountability Court sent clearing agents namely Muhammad Idress son of Yousaf, Muhammad Ali son of Muhammad Idress and Imran Khan son of Saifur Rahman to Central Jail Karachi on judicial remand who were alleged involved in mis-declaration and millions of tax evasion scam. On October 9, 2019, investigation officer of NAB has produced above mentioned suspects before ... Read More »

M/s Noor Petroleum approaches SHC against detention of consignment

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KARACHI: M/s Noor Petroleum Associates approached the Sindh High Court (SHC) against detention of its consignment of 250 MT of Chloroform chemical imported in bulk and alleged enhancement of valuation under the garb of valuation ruling no 1311/2018. On 7 October 2019, counsel for the petitioner stated that petitioner imported consignment of 250 MT of Chloroform chemical in bulk and ... Read More »

Customs Court approves after arrest bail of suspects in smuggling case

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KARACHI: The Customs Court granted after arrest bail to suspects Muhammad Sabir and Rafeeq in a case of attempting to smuggle non-duty paid 10,896 liters high speed diesel. On 7 October 2019, counsel for accused moved petitions for after arrest bail and argued that his clients are innocent and have been falsely implicated in this case, as they are ready ... Read More »

Hyundai to begin local production in Pakistan from Jan 2020

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KARACHI: Hyundai Nishat Motors Private Ltd (HNMPL) – a joint venture company between Nishat Group, Sojitz Corporation (Japan) and Millat Tractors Limited – on Wednesday announced to start local assembly of Hyundai H-100 cabover truck from January, 2020, with 20 percent level of localisation. HNMPL also unveiled its ‘Hyundai Ioniq Hybrid car’ while inaugurating its digital showroom at the Emerald ... Read More »

RTO-II to detect income of doctors, lawyers & CAs

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KARACHI: Federal Board of Revenue (FBR) Regional Tax Office (RTO) – II has been authorized to assess incomes of professionals including lawyers, doctors, chartered accountants etc. for assessment of their incomes and enforce income tax returns. The Federal Board of Revenue (FBR) has revised jurisdiction of Chief Commissioner and Commissioners of Inland Revenue, RTO-II Karachi. The Zone-I of the RTO-II, ... Read More »

M/s Noorani Agency approaches SHC for issuing orders on acquittal petition

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KARACHI: Muhammad Irfan of M/s Noorani Agency approached the Sindh High Court (SHC) and submitted petition for deciding his petition for acquittal under section 265k Cr. Pc booked in NAB reference for mega sales tax refund scam. On 7 October 2019, counsel for the petitioner stated that petitioner was employed with M/s Noorani Agency as outdoor clerk, his boss asked ... Read More »

Anti-Corruption East unearths fake housing scheme in name of Bilawal Bhutto

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KARACHI: A fake housing scheme running in the name of Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari was revealed today (Oct. 8) while Anti-Corruption East conducted a raid and arrested one of the accused. According to Deputy Director Anti-Corruption East Zamir Abbasi, they raided the office of Bhutto Welfare Housing Society after receiving several complaints regarding the fake scheme and ... Read More »

Customs Court approves remand of suspect in betel nuts smuggling case

Customs Court approves remand of suspect in betel nuts smuggling case copy

KARACHI: The Customs Court sent suspect namely Waqas Noor to customs department on physical remand in a case of attempting to smuggle non-duty paid betel nuts. On 7 October 2019, investigation officer of Intelligence and Investigation FBR submitted first information report (FIR) and also produced the above-mentioned suspect and informed that on an actionable information, customs officials intercepted Toyota Hilux ... Read More »

NAB seeks re-issuance of Liaquat Qaimkhani’s arrest warrants

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ISLAMABAD: A formal request for re-issuance of former director general of parks and horticulture in Karachi, Liaquat Ali Khan Qaimkhani’s arrest warrant has been sent to National Accountability Bureau (NAB) Chairman Justice (r) Javed Iqbal for approval. According to details, the authorities have decided to interrogate Qaimkhani, who is already under-custody, regarding ownership of expensive cars and dozens of plots. ... Read More »

SHC orders strict action against sellers of gutka

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  KARACHI: The Sindh High Court (SHC) on Tuesday ordered cases to be registered against those selling gutka under Section 337-A (shajjah, intentionally causing hurt) of the Pakistan Penal Code. During the hearing of a petition against the use of mainpuri and gutka by a two-member SHC bench headed by Justice Salahuddin Panhwar, petitioner Advocate Muzammil Mumtaz had argued against ... Read More »

Plan to change law for the rich Sohail?

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KARACHI: Some junior customs officials have allegedly planned to change law for the rich Sohail Shams, CEO of M/s United Marine Agencies (UMA) who is said to be involved in a huge scam of clearing 930 consignments through mis-declarations, causing heavy loss to the national exchequer. Sources have informed Customs Today that some junior customs officials have planned to delete ... Read More »

Sales tax collection through imports up 18.5pc during 1Q

Tax Revenue

KARACHI: Sales tax collection from imports rose 18.5 percent to Rs200.72 billion in the first quarter of the current fiscal year of 2019/20 as the government raised duties and withdrew certain exemptions to mobilise revenue. According to media, the collection rose due to abolishing of incentives in sales tax regime and imposition of higher customs duty rates. Sales tax collection ... Read More »

CEO of Bahria Town challenges reference filed by NAB

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KARACHI: Chief Executive Officer Bahria Town Zain Malik has challenged reference filed by National Accountability Bureau (NAB) in NAB Court against him. NAB also booked the then mayor Mustafa Kamal, the then district coordination officer Fazlur Rehman, the then executive district officer Iftikhar Qaimkhani, the then district officer Mumtaz Haider, the then additional DO Syed Nishat Ali and the then ... Read More »