Sargodha Customs seizes smuggled goods worth Rs250m

LAHORE: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to audit all fake transactions and...

Pakistan’s petroleum imports decline by 12pc in 7 months of FY24

ISLAMABAD: Petroleum group imports witnessed a negative growth of 12.06 percent during the first seven months (July-January) of the current...

FBR to expand tax base with World Bank’s aid

ISLAMABAD: The Federal Board of Revenue (FBR) agreed to expand its tax base by identifying millions of new taxpayers by...

FBR halts issuance of three notifications

ISLAMABAD: The Federal Board of Revenue (FBR) has delayed issuance of three key notifications dealing with the documentation of economy,...

Pakistan automakers lament increase in sales tax

ISLAMABAD: The Pakistan Automobile Manufacturers Association (PAMA) ‘strongly’ rejected a 25 per cent increase in sales tax on locally manufactured...

FBR impounds smuggled cigarettes worth Rs140m in two days

RAWALPINDI: The Federal Board of Revenue (FBR) has seized non-duty paid cigarettes worth Rs140 million during two-days campaign. In a...

FBR chairman reviews performance of field formations regarding revenue collection

KARACHI: Chairman Federal Board of Revenue Malik Amjed Zubair Tiwana and Member-IR (Operations) Mir Badshah Khan Wazir visited Large Taxpayers...

Customs PCA detects tax evasion of Rs27.5b by some importers

KARACHI: The Directorate Post-Clearance Audit (PCA) South has an elaborate tax evasion scheme by importers under the guise of the...

Multan Customs’ aggressive crackdown yields record seizures worth Rs482.28m in January 2024

MULTAN: Collectorate of Customs Enforcement in Multan has started a vigorous campaign against smuggling, achieving unprecedented success with seizures valued...

Political instability, rising cost of doing to business drags KSE-100 down by over 1.82pc

KARACHI: The benchmark KSE-100 Index tumbled in the afternoon session on Thursday and closed at 61,020.05 after a loss of...

LCCI rejects proposed hike in KPT charges, utility prices

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has rejected the proposed increase in the KPT (Karachi Port Trust)...

Pakistan’s foreign reserves stand at US$ 13,149.1m: SBP

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) stood at US$8,056.5 million after an increase...

Govt hikes petrol price by Rs2, diesel by Rs8

ISLAMABAD: Following the recommendation of the Oil and Gas Regulatory Authority (OGRA), the caretaker government approved a hike in the...

‘Tajir Dost’ mobile app to tax retailers in Pakistan likely to be launched on Feb 22

ISLAMABAD: The “Tajir Dost” (Trader Friend) app to tax retailers in Pakistan, is likely to be launched on February 22....

SHC directs to release goods imported by Naveed Trading Corp after securing differential amount

KARACHI: Sindh High Court, Customs Appellate Bench comprising Justice Muhammad Junaid Ghaffar and Justice Adnan-ul-Karim Memon directed to release goods...

Pakistan’s imports from Iran increase by 25pc in January

KARACHI: Pakistan’s imports from Iran have surged despite recent tension between the two countries. Pakistan’s imports from Iran increased to...

Peshawar High Court strikes down Section 7E of Income Tax Ordinance 2001

PESHAWAR: The Peshawar High Court (PHC) has struck down Section 7E of the Income Tax Ordinance, 2001, terming it beyond...

Multan Enforcement foils bid to smuggle foreign currency

MULTAN: Collectorate of Custom Enforcement team deputed at Multan International Airport foiled a bid to smuggle huge quantity of foreign...

Pakistan approves hike in gas tariff