Friday , June 23 2017
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

Problem of rising trade deficit


According to newspaper reports, the trade deficit of the country are likely to cross $50 billion mark as the import bill has risen up by 20 percent to reach $48.5 billion in the first 11 months of the current fiscal year.On another note, the exports have dropped to $18.5 billion in the 11 months despite announcement of an export package ... Read More »

Import tariffs discourage manufacturing sector in Pakistan says Ashar Aziz CEO SkyElectric


ISLAMABAD: The founder executive chairman and Chief Executive Officer SkyElectric Ashar Aziz has said that import policy and higher tariff rates are only facilitate the importers of manufactured products rather than the importers of raw material for value added or furnished goods. Thus both the import policy and higher tariff rates are proving hurdle in the promotion of local manufacturing ... Read More »

Multan Customs achieves customs duty collection target of June

Lahore Intelligence Director Saud Imran

MULTAN: The Customs Collectorate has achieved the assigned customs duty collection target of Rs8705.42 million for the month of June in the on-going fiscal year 2016-17. Sources told Customs Today, the Collectorate of the Multan Customs collected Rs8705.42 million customs duties in the first 22 days of the Month of June. The Federal Board of Revenue has assigned Customs duty ... Read More »

FBR chief for ending distance between officers & general staffers


ISLAMABAD: Chairman Federal Board of Revenue Dr. Irshad Khan said that distance between officers and general staffers must be ended. We must respect the uniformity as it is our pride. People should respect the uniformity and they should also try to respect the layman. Inland Revenue Service and Customs Department must work together. The current culture of working environment must ... Read More »

Port Qasim Appraiser Zulfiqar Ali Shaikh moves SHC challenging inquiry against him


KARACHI: The Sindh High Court (SHC) has directed customs authorities to file para wise comments on a constitutional petition filed by Zulfiqar Ali Shaikh, Appraiser, Customs Collectorate Port Muhammad Bin Qasim, challenging an inquiry against him under the government servants (efficiency and discipline) rules 1973. A two-member bench, headed by Justice Muhammad Ali Mazhar, heard the petition. During the hearing, ... Read More »

Custom Preventive foils bids to smuggle huge quantity of drugs at Karachi airport

Saifullah Junejo

KARACHI: Pakistan Customs Preventive has seized a huge quantity of drugs worth million of rupees. According to the source, a joint team of the Customs Preventive and Anti Narcotics Force (ANF) seized a huge quantity of heroin and cocaine worth million of rupees as well as have arrested two suspects. The team arrested two foreign bound passengers identified as Waseem ... Read More »

Court extends physical remand of principal appraiser involved in corruption


LAHORE: The National Accountability Bureau (NAB), Lahore, had arrested Principal Appraiser of Customs for allegedly having assets beyond known sources of income. According to a NAB spokesman, following the directions of its Lahore Director General Shahzad Saleem regarding eliminating corruption from government departments and society too, the NAB team arrested Principal Appraiser Customs named Iftikhar Cheema from Lahore. The spokesman ... Read More »

Customs court adjourns hearing of Rs80million tax evasion


LAHORE: The Special Federal Court of Customs Taxation and Anti-Smuggling will hear a case of an accused Manzoor Ahmad arrested on the charge of tax evasion. Sources told Customs Today that accused Manzoor Ahmad owns a textile factory on Raiwind Road. He was allegedly involved in the tax evasion by submitting fake returns and other statements to the FBR. On ... Read More »

Customs Court sends suspect to jail for illegally importing kerosene oil


KARACHI: Acting Judge of the Customs Taxation and Anti-Smuggling Court Syed Arshad Noor Khan has sent suspect, Irfan Ahmed, to Central Jail Karachi on judicial remand, who was allegedly involved in mis-declaration and imported restricted kerosene oil under the garb of white spirit. During the hearing, investigation officer produced the suspect before the court and informed that M/s SMD Sons ... Read More »

Torkham Station receives Rs137.11m all duty taxes between 1st to 15th June

tax revenue

TORKHAM: The Pak-Afghan International Customs Station Torkham earned Rs137.11million of All Duty Taxes during the 1st to 15th of June’s Financial Year FY2016-17. According to Additional Deputy Collector Fazle Shakoor that during the initial 15 days of June FY2016-17, the Torkham Customs Station collected Rs22.07million of Customs Duty (CD) whereas it did Rs0.29million of miscellaneous taxes and surcharges while Torkham ... Read More »

IHC adjourns hearing of tax references filed by M/s Attock Oil Company, Pak Telecom Mobile


ISLAMABAD: The Islamabad High Court (IHC) dated in office the hearing hearing of a couple of tax references challenging tax recovery filed against Large Taxpayers Unit. The court ordered the office to relist the cases for post Eid proceedings. The references were filed by M/s Attock Oil Company Limited and M/s Pak Telecom Mobile Limited. The IHC single bench comprising ... Read More »

Customs court receives probe challan of mobile phones smuggler


LAHORE: The Special Federal Court of Customs Taxation and Anti-Smuggling has received an investigation challan of a case of an accused booked by the customs authorities at the Allama Iqbal International Airport while making an attempt to smuggle cell phones from China into Lahore. Naveed Bhatti was arrested by the Customs Preventive when they seized 170 android mobile phones from ... Read More »

Mianwali ASO impounds vehicle & screw compressors valued Rs1.3m


MIANWALI: The Anti-Smuggling Organization (ASO) Mianwali has seized smuggled old and used screw compressors (1600-Kg) worth Rs1.3million involving customs duty and taxes of Rs225000. The ASO also impounded a Mazda Mini truck valued Rs500000 during a raid. Sources told Customs Today that Customs Collectorate Collector Muhammad Sadiq received a tip-off regarding the smuggling attempts. He formed an ASO team comprising ... Read More »

FTO adjourns hearing in M/s LE-Topical case


LAHORE: The Federal Tax Ombudsman (FTO) has postponed the hearing of a case filed by M/s LE Topical Lahore against the Corporate Regional Tax Office-II (CRTO) Lahore until the next hearing. FTO Consultant Tariq Yousaf heard the case 41/LHR (31)/106/2015 FTO-LHR0000650/15 filed by Naseer Ahmed, M/s LE Topical in which the counsel for the appellant argued that the CRTO has ... Read More »

FTO to hear Rakhsana Ashraf case until next date of hearing


LAHORE: The Federal Tax Ombudsman (FTO) has adjourned the hearing of a case filed by Rukhsana Ashraf against the Regional Tax Office-II (RTO-II) until the next hearing. FTO Advisor Mian Munawar Ghafoor heard the case of Rukhsana Ashraf in which counsel for appellant argued that the RTO had failed to release the sales tax refund since two years claimed by ... Read More »

Pakistan-Australia to should expand trade ties: LCCI


LAHORE: Senior Trade and Investment Commissioner of Australian Trade & Investment Commission John Madew called on the LCCI Acting President Amjad Ai Jawa and Vice President Muhammad Nasir Hameed Khan and had a detailed discussion on trade and economic issues. Regional Business Development Manager of Australian Trade & Investment Commission Imran Saeed Khan was also present on the occasion. John ... Read More »

FTO puts off M/s Pakistan Pipe Industries case till next date of hearing


LAHORE: The Federal Tax Ombudsman (FTO) has heard an appeal filed by M/s Pakistan Pipe Industries (Private) Limited against the Corporate Regional Tax Office (CRTO Lahore until the next date. The FTO heard the case in which counsel for the appellant argued that the Corporate Regional Tax Office (CRTO) had failed to resolve the tax refund since two years claimed ... Read More »

Govt asked to lower duties to discourage smuggling


LAHORE: Pakistan FMCG Importers Association has urged Federal Finance Minister Ishaq Dar and the Federal Board of Revenue (FBR) to bring down customs duties on different consumer goods as higher rates are contributing to an increased influx of smuggled goods. Talking to Customs Today, Patron-in-Chief of the Association Naseem Chawla and President Anjum Nisar urged the government to curb smuggling ... Read More »

Performance allowance of five Customs officers of BS-16 restored


ISLAMABAD: The performance allowance in respect of five Pakistan Customs Service officers of BS-16 has been restored on completion of their declaration of assets. The performance allowance, (equivalent to 100 per cent of basic pay) in respect of the said officers, which was discontinued vide FBR’s Notification No2III -C-III/2015 09.09.2015. According to the notification, the officers whose performance allowance was ... Read More »

Textile sector issues


The All Pakistan Textile Mills Association will launch a protest campaign from next months to highlight the challenges faced by the industry. The exports have been falling for the last three years, production capacity of the textiles mills has been affected by frequent power outages and the textile package announced by the prime minister has yet to hold ground. The ... Read More »