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Home / Tag Archives: Islamabad Region

Tag Archives: Islamabad Region

Tuesday December 09 -Monday December 15, 2014

Customs Today E-Paper

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SHC extends stay order against construction of nuclear plants

COURT-Scale

KARACHI: A Sindh High Court (SHC) bench, headed by its Chief Justice Maqbool Baqar, granted extension in a stay order already issued against the construction of two nuclear power plants – K-II and K-III till November 12. The Pakistan Atomic Energy Commission requested the court to allow construction to begin, claimed that the stay order was losses to the tune ... Read More »

Punitive duties: Pakistan drags EU to WTO

WTO

ISLAMABAD: Pakistan took the European Union to the World Trade Organisation, challenging the latter’s move of imposing punitive duties on Pakistani exports of polyethylene terephthalate (PET). As per details, Pakistan is of the view that the EU has violated the WTO rules by imposing anti-subsidy duties on PET, which is used in synthetic fibres, plastic bottles and food containers. Under ... Read More »

In a decade time: Up to Rs14.68 per litre POL price cut takes effect

oil cut

ISLAMABAD: Pakistanis finally received good news among the piles of bad reports especially of increasing inflation as Prime Minister Nawaz Sharif Friday announced reduction in the prices of petroleum products up to Rs14.68 per litre. Customs Today has another feather in its cap as this leading community newspaper was first to break this news of reduction in petroleum, oil & ... Read More »

Tuesday September 30 Monday October 06, 2014

Customs Today E Paper

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Naqvi to head Tax reforms commission

FBR

ISLAMABAD: With the aim to bringing in drastic reforms in the prevailing tax system, the federal government, at last, named renowned chartered accountant Masoud Naqvi as head of the Tax Reforms Commission (TRC). It is to be noted that the establishment of Tax Reforms Commission (TRC) was announced by Finance Minister Ishaq Dar in his budget speech in June. A ... Read More »

FBR woman officer gets promotion purely on merit

Promotion

ISLAMABAD: What can be described as surprising as well as pleasant, Prime Minister Nawaz Sharif approved the promotion of an FBR woman officer to Grade-22 position, despite having no political backing among the aspirants to the top slot. Interestingly, FBR officer Farzana Jabeen, from Inland-Revenue Service (IRS) cadre, is scheduled to retire from service with effect from October 22, 2014. ... Read More »

PIDE terms fiscal revenue target ‘too ambitious’

PIDE

ISLAMABAD: The Pakistan Institute of Development Economics (PIDE) has described the revenue target of Rs2,810 billion for the fiscal year 2014-15 as too ambitious to be met, saying the projected increase in revenue collection target is likely to be missed due to various factors. In a report, the PIDE cited that the highest growth in tax collection Pakistan had ever ... Read More »

ANF seizes narcotics worth Rs5.75b

ANF

ISLAMABAD: The Anti-Narcotics Force claimed to have captured 3.1 tonnes of narcotics and arrested eight drug smugglers. The force claimed that the seized drugs worth was amounting to Rs5.75 billion. The narcotics were recovered during different raids carried out in Faisalabad, Lahore, Khanewal, Hyderabad and Pishin and. According to an ANF press release, most of the seized drug was destined ... Read More »

FBR sets up 200 centres to facilitate taxpayers

FBR

ISLAMABAD: The Federal Board of Revenue has established 200 tax facilitation kiosks to facilitate the business community in filing of income tax returns. The centres have been established at important business centres, shopping malls, offices of traders’ associations and chambers of commerce and industry, national and provincial assemblies buildings, federal secretariat, civil secretariats in all the provincial capitals, press clubs ... Read More »

Cross-border smuggling making big hole in exchequer

cross-border smuggling

PESHAWAR: The rampant smuggling of auto parts and Nato forces equipment from Afghanistan into Pakistan has been going on unnoticed, depriving the national exchequer of huge revenue to the tune of billions of rupees. Informed border areas goers and residents of Khyber Agency divulged to Customs Today that auto parts and others goods were being trafficked from Afghanistan through horses ... Read More »

Businessmen, daily-wage earners want early end to sit-ins

Sit-in

ISLAMABAD: Businessmen and daily-wage earner in the federal capital want an early end to the sit-ins staged by Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek for resumption of normal business and commercial activity. Former president Islamabad Chamber of Commerce and Industry Zahid Maqbool said that the national economy had suffered a loss of Rs1,200 billion to Rs1,300 billion due to the ... Read More »

PTBA cries foul at glitches in ST registration

sales-taxa

ISLAMABAD: The Pakistan Tax Bar Association (PTBA) has written in to the FBR chairman complaining about difficult and time-consuming procedure for sale tax registration. In a letter to FBR Chairman Tariq Bajwa, the PTBA pointed out that the current system for ST registration was time-consuming as it required two to three months to get a manufacturing unit registered for sales ... Read More »

FBR notifies 4pc advance tax on int’l air tickets

air travel

ISLAMABAD: The Federal Board of Revenue (FBR) notified all the airlines to collect advance tax on air tickets for international journey originates from Pakistan. According to the notification, the FBR directed all the airlines to collect advance tax at the rate of 4 percent on all air tickets if the journey originates from Pakistan. It read that the airlines issuing ... Read More »

FBR HRIS lacks CNICs of 18 officers

CNIC

ISLAMABAD: The Computerized National Identity Cards (CNIC) numbers of 18 FBR officers including two BPS-20 and five BPS-19 officers are not existed in the Human Resource Information System (HRIS) and internal identification system of the board. This anomaly or discrepancy speaks volumes about the up-gradation and modernization of the internal system of the national revenue collecting agency. According to available ... Read More »

FBR likely to allow ANF checking of inbound cargos at dry, sea ports

ANF

ISLAMABAD: The Federal Board of Revenue is likely to allow Anti-Narcotics Force (ANF) inspection of inbound cargo containers at dry and sea ports to check drugs smuggling. Modalities in this regard are likely to be finalised in an important meeting between both the executing agencies scheduled to be held next week. Reliable sources told Customs Today that the ANF has ... Read More »

114 senior FBR officers have no income tax registration

fbr

ISLAMABAD: At least 114 senior officers of the Federal Board of Revenue (FBR), from BPS 17 to 20, are not registered for income tax. According to a new list, the officers having no registration for income tax include a BPS-20 director general and BPS-17 assistant collector (prob). The list of officers consists of one director general, seven BPS-19 officers including ... Read More »

Govt to take exports to $50b by 2018: Dastgir

Khurram Dastgir1

ISLAMABAD: Adverse political relations between India and Pakistan have stopped the Commerce Minister and Commerce Secretary from attending ‘Aalishan Pakistan: Lifestyle Exhibition’ being held from September 11th to 14th, 2014 in New Delhi. Addressing a press conference, Federal Minister for Commerce Engineer Khurram Dastgir Khan said that both the neighbouring rivals could not initiate trade talks until diplomatic ties resumed ... Read More »

Kh Asif sheds light on Chinese investment, projects

Kh Asif

ISLAMABAD: Federal Minister for Water and Power Khawaja Asif said that China intends to invest 34 billion dollars in Pakistan as Foreign Direct Investment (FDI) and not as a loan. “Chinese companies aim to invest $34 billion in different projects, while Chinese banks EXIM and China Development Bank would finance these companies,” Asif said while addressing a press conference called ... Read More »

Islamabad-Geneva sign treaty on avoidance of double taxation

Pak-Switzerland

ISLAMABAD: Three days visit of the Pakistani delegation to Switzerland ended in signing a revised treaty on avoidance of double taxation. The treaty will also help Islamabad seek information about the money deposited by Pakistani nationals in Swiss banks for tax purposes. The documents were inked at the conclusion of talks held in Geneva to renegotiate the July 2005 Convention ... Read More »