Thursday , February 21 2019
Breaking News
Home / Latest News

Latest News

News updates
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

ECC directs to form committee to ensure prompt clearance at ports after Customs Today coverage


ISLAMABAD: Customs Today has been raising the issue of delay in clearance process at Karachi ports since last several years and finally the Economic Coordination Committee in its meeting directed the formation of a committee headed by Minister for Ports & Shipping Ali Haider Zaidi to bring up proposals for prompt and efficient cargo clearance at ports. According to details, ... Read More »

NAB Karachi arrests Agha Siraj Durrani; several politicians, corporates’ fate hangs in balance

Agha Siraj Durrani

ISLAMABAD: The National Accountability Bureau (NAB) on Wednesday arrested Sindh Assembly Speaker Agha Siraj Durrani. After arrest of former ports and shipping minister Kamran Michael, Customs Today had reported a few days ago on 16 February that the Bureau would arrest senior politicians soon. According to details, NAB has accused him of illegal appointments, misuse of power, misappropriation of funds ... Read More »

Will raise voice against illegal appointment of Indian at QICT: Rana Qadeer

WhatsApp Image 2019-02-20 at 7.16.38 PM (1)

LAHORE: Senior Lawyer of Sheikhpura Bar Association Rana Qadeer has said that even in this worst condition between Pakistan and India, where the latter is threatening the former on daily basis, alleged working of Indian citizens in Pakistan at sensitive and strategic places is dangerous and it is a security risk as well. While talking to Customs Today Rana Qadeer ... Read More »

India to face loss of $5m after ban on export of tea to Pakistan


LAHORE: Importer and member of Lahore Chamber of Commerce and Industries (LCCI) Sheikh Masood Sultan has said that India will face a revenue shortage of $5 million after ban on tea export to Pakistan because Pakistan is importing huge quantity of tea from India since 2007. While exclusively talking to Customs Today, Sheikh Masood Sultan said that in 2018, Pakistan ... Read More »

FTO issues notice to RTO Multan for not collecting advance income tax


MULTAN: The Federal Tax Ombudsman has issued notice to Federal Board of Revenue (FBR), Regional Tax Office (RTO) in their failure to collect advance income tax from owners of housing societies, luxury bungalows and plots. Sources told Customs Today that it came into the notice of Federal Tax Ombudsman that Regional Tax Office has shown inefficiency and negligence in the ... Read More »

M/s Chaudhary Steel approaches SHC seeking release of iron & steel cutting scrap


KARACHI: The Sindh High Court (SHC) directed customs officials and deputy attorney general to file their comprehensive para-wise comments on a petition filed by M/s Chaudhary Steel seeking release order of its imported 54245 kilograms iron & steel remeltable cutting scrap. On February 18, 2019, a two-member bench headed by Justice Aqeel Ahmed Abbasi was hearing the matter. During the ... Read More »

Customs Court accepts challan of HSD smuggling case


KARACHI: The Customs Court accepted interim charge sheet against and issued non bailable warrants against absconding suspects namely Sol Muhammad, Bashir and Farooq, who were booked in a case of attempting to smuggle non-duty paid 20602 liters High Speed Diesel (HSD). On Feb 18, 2019, investigation officer submitted interim charge sheet and informed the court that on an actionable information, ... Read More »

FBR detects huge carry forward losses by taxpayers

Appraisement East detects tax evasion of Rs 6 88m by M s Ghani Plastics & Kitchen Accessories copy

ISLAMABAD: Federal Board of Revenue has observed that some taxpayers and companies are irregularly carrying forward huge losses and setting-off against the income of following tax years involving potential tax effect. It is important to mention here that the adjustment of losses from one head against the income, profit or gains of any other head of income during the same ... Read More »

FBR working to bring transactions through Easypaisa & Western Union under tax net


ISLAMABAD: Federal Board of Revenue (FBR) has started working to document the transfer of money through Easypaisa and Western Union and mechanism in this regard is being prepared, it is learnt here. Official sources told Customs Today that the board with the aim to broaden the tax net and document the international money transfer via both the applications Easypaisa and ... Read More »

Sara-i-Muhajir ASO seizes non customs paid Iranian oil during operation

Sara-i-Muhajir ASO seizes NDP cigarettes worth Rs1 5m copy

SARA-I-MUHAJIR: Anti-Smuggling Organization (ASO) seized non customs paid Iranian oil and tanker worth Rs11.8 million. Sources told Customs Today that an ASO team under the supervision of Additional Collector Muhammad Saeed Asad thwarted many attempts of smuggling. During a routine checking, the ASO team intercepted an oil tanker bearing registration no: K-0055 with driver Muhammad Akram. During the course of ... Read More »

Importers express concerns over govt notification for Urdu labeling


LAHORE: Commercial importers have expressed their serious concerns over recently issued notification by the Ministry of Commerce (MoC) by virtue of which, it has been made compulsory for all the imported food items to have Urdu labeling too on the packaging, describing all the ingredients, nutritional facts and usage directions. Pakistan FMCG Importers Association (PFIA) Chairman Anjum Nisar, Senior Vice ... Read More »

Customs Preventive transfers four inspectors, three clerks


LAHORE: Collectorate of Customs Preventive issued orders to transfer four inspectors and three clerks with immediate effect. According to notification no: 01-HRD/Estt/80/2016-17/171 Inspector Waheed Iqbal Bhatti currently performing his duties at headquarters is transferred to law branch of (hq). Inspector Qasim Bin Aslam currently posted at Land Freight Unit Wagha is transferred to auction branch of State Warehouse. Inspector Akbar ... Read More »

PM Imran approves draft of Pak-Turkey Strategic Economic Framework

download (6)

ISLAMABAD: Prime Minister Imran Khan on has approved the draft of Strategic Economic Framework between Pakistan and Turkey. At a meeting the prime minister directed for early finalization of the framework aiming at transforming the bilateral relations between the two countries into a broader growing strategic economic relationship, a statement said on Wednesday. He directed relevant ministries to vigorously pursue ... Read More »

Five-day losing streak ends on strong corporate earnings


KARACHI: A five-day losing streak finally came to an end at the stock market on Wednesday as the benchmark index advanced on the back of strong corporate earnings and crossed the 40,200-point mark. Although the KSE-100 index opened on a negative note due to ongoing tensions with India, the tide changed in the wake of impressive results in the banking ... Read More »

DFID will enhance economic & development assistance to Pakistan: Penny Morduant

24444885448_19523b063d_b - Copy

  ISLAMABAD: Secretary of State for International Development and Minister for Women and Equalities, United Kingdom Ms. Penny Mordaunt called on the Finance Minister Asad Umar on Wednesday. She was accompanied by a five-member delegation. During the meeting, matters of bilateral interest and the status of development assistance provided by UK to Pakistan were discussed. Finance Minister thanked the UK ... Read More »

Agha Siraj arrest: NAB strictly following policy of merit & transparency


ISLAMABAD: National Accountability Bureau (NAB) today strongly rejected some media reports which stated that Mangi Sahib who belonged to Sindh is involved in arresting Sindhi people. According to a press release, it is stated that National Accountability Bureau is a national institution which is performing according to law and constitution. NAB is working hard to eliminate corruption from our country ... Read More »

FBR issues order for posting of six officials of BS-19 & BS-20

FBR 15

ISLAMABAD: Federal Board of Revenue Chief (Facilitation & Compliance) Muhammad Saleem issued office order  for posting of six officials of BS-19 and BS-20 with immediate effect and until further orders.   Read More »

Pakistan can’t survive without wealthy paying their fair share in taxes: PM

Prime Minister Imran Khan addressing the gathering during the Ceremony in PM Office Islamabad for distribution of Awards among Top Tax Payers of Pakistan, on February 20, 2019

ISLAMABAD: Prime Minister Imran Khan has said that Pakistan’s future is bleak if the wealthy don’t pay their fair share in taxes to help the government make the country into a welfare state. He was addressing a ceremony to give out awards to top 50 tax payers of the country in Islamabad on Wednesday. The prime minister lauded the top ... Read More »

FPCCI nominates Ziaul Haq Sarhadi as member BoD of RAC


KARACHI: Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has nominated former senior vice president Sarhad Chamber of Commerce and Industry as a member on the Board of Directors of Pakistan Railway Advisory Committee, Ministry of Railway for 2019. Read More »

‘Stern action will be taken against those involved in embezzlement in construction of Danish schools’


LAHORE :A meeting of Punjab Daanish Schools and Centres of Excellence Authority was held under the chair of Chief Minister Sardar Usman Buzdar at his office in which performance of the Daanish Schools Authority was reviewed. Addressing the meeting the chief minister said that every penny would be recovered from those found involved in embezzlement of construction of Daanish schools. ... Read More »