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Letters to Editor

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

FBR to continue policy of different tax rates for filers, non-filers in next FY

ISLAMABAD: In the wake of outstanding results in terms of enhancing the tune of revenue collection and number of fillers in last five years, the Federal Board of Revenue (FBR) will continue the policy of different tax rates from filers and non-filers in the coming fiscal year. Since the introduction of this policy during Tax Year 2013 the number of ... Read More »

DG Valuation Surriya to revise VR No 737/2017 on October 16

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Rulings No 737/2015 on October 16, it is learnt here. According to the details, Surriya Butt has said that the department is reviewing suggestions from importers to set new prices. She said that some valuations, which were issued in 2015, were being reviewed from ... Read More »

Gwadar Customs foils bid to smuggle hashish, computer accessories

GWADAR: The Customs Collectorate Gwadar  continue its raids during the current month of September. Yesterday, Gwadar Customs team confiscated a big quantity of hashish and non duty paid computer accessories like LED monitors, portable hard drive,  rams and so many other items worth Rs 3.2 million. Source told Customs Today that on a tip-off regarding the possible smuggling of various ... Read More »

Newly posted Collector Preventive Faiz Ahmed assumes charge

LAHORE: Collectorate of Customs Preventive newly posted Collector Faiz Ahmed has assumed the charge of his new responsibilities from Thursday (today). According to the details, Federal Board of Revenue (FBR) posted Faiz Ahmed as Collector, Customs Collectorate of Preventive after he completion of his chief management course. During his first day in office he met the high officials and as ... Read More »

ICCI signs MoU with PSX to increase access to equity funds for SMEs

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) has signed a Memorandum of Understanding with Pakistan Stock Exchange (PSX) to facilitate SMEs in generating funds from capital market for business growth and expansion. Khalid Iqbal Malik, President, ICCI and Nadeem Naqvi, Managing Director, PSX signed the MoU at a ceremony held at Chamber House. Asghar Abbas Naqvi Regional Head Islamabad ... Read More »

PCA summons M/s Faiz Company in duty, tax evasion case

  LAHORE: Directorate of Customs Post Clarence Audit (PCA) has summoned M/s Faiz Company, Rawalpind in duty and tax evasion of Rs 189,142 on import of tarpaulin. According to the details, the PCA Lahore observed that the import clearances data against HS Code 6306.1210 effected from various Customs Collectorate during the calendar years. 2012 and 2013 revealed that inadmissible concession ... Read More »

Deputy Collector Asma Hameed declares seizure of trailer as legal

FAISALABAD: The Deputy Collector Customs Adjudication Asma Hameed issued Order-in-Original (ONO) in favour of Anti-Smuggling Organization Faisalabad. According to details, a team of the Anti-Smuggling Organization (ASO) intercepted a trailer bearing registration no. JU-7834  Sindh . The smuggled vehicle was brought into country without payment of customs duty and taxes through unauthorized way. The Customs team arrested the driver of ... Read More »

SHC directs tax authorities to decide petition filed by Wackenhut Pakistan in four weeks

KARACHI: The Sindh High Court (SHC) has directed the Commissioner (Appals-II) Inland Revenue, Karachi, to decide the appeal of the petitioner within four weeks. The court took this action on a constitutional petition filed by M/s Wackenhut Pakistan Limited against the impugned recovery of income tax of Rs 62.553 million, including default surcharges of Rs 11.360 million. A two-member bench, ... Read More »

Case of sugar mills in cotton growing areas

According to newspaper reports, the Ministry of Textile Industry has expressed the apprehensions that allowing the establishment of new sugar mills in the cotton growing areas will severely affect cotton production. The ministry has urged provinces not to issue no-objection certificates to the mill owners either to increase the capacity or shifting of their units to the cotton growing areas. ... Read More »

PAJCCI organizes Cross Border and B2B Exhibition to strengthen trade ties

PESHAWAR: The Pakistan Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) organized the Cross Border B2B and Small Scale Exhibition to strengthen business ties between the two countries. The Afghan delegation and executive committee of both the chapters also visited the exhibition. Custom agent association president and PAJCCI Vice-president Ziaul Haq Sarhadi told Customs Today that the PAJCCI as part ... Read More »

FIA arrests proclaimed offender in fraud case  

LAHORE: The Federal Investigation Agency (FIA) has arrested a proclaimed offender, Ibrar Ahmad son of Muhammad Yaseen, a resident of 59/GD, Sahiwal. The accused was declared Proclaimed Offender in FIR No. 32/2013 U/s  419, 420, 34 PPC of FIA CCC Lahore. The accused allegedly committed fraud of Rs 3.3 million for installation of cell phone towers in Gujrat, Gujranwala region. ... Read More »

FBR surpasses August target with Rs 210 billion collection

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs 210 billion, surpassing Rs 207 billion target set for the month of August 2016. The country’s top revenue authority collected Rs 156 billion in July 2016 against Rs 149 billion in same period last fiscal, showing a growth of 4.7 percent. The total collection for the first couple of months (July ... Read More »

Residents owe £10.5m in outstanding council tax, claims charity

SWINDON: Homeowners in Swindon owe the council £10.5million in unpaid council tax according to new figures from a debt charity. But Swindon Borough Council has revealed it has one of the best records among authorities for collecting council tax debts, and is continuing to pursue debts from more than 20 years ago. The figures, included in newly-published data published by ... Read More »

Muhammad Hanif given additional charge of Sialkot zone-I  

SIALKOT: Customs Collector Ahmed Reza Khan has given acting charge of Modal Customs house Sialkot zone-I to Deputy Collector Muhammad Hanif due to two months leave of Assistant Collector Fahad Bashir Choudhary. However Deputy Collector Muhammad Hanif will check the matters of Model Customs House Camp Office Sialkot, Anti Smuggling Organization (ASO), Rebate refund claims, Preventive, Anti Narcotics Forces and ... Read More »

ICCI announced election schedule for 2016-17‏

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has announced the election schedule for the year 2016-17 detail of which has been made available on Chamber’s website and notice board. According to the schedule, the provisional list of voters will be displayed on Chamber’s notice board and website on 22nd July 2016 and the final list on 20th August ... Read More »

2 Malaysians jailed for six months over wildlife smuggling   

PORTLAND: Two Malaysian nationals pleaded guilty to smuggling wildlife into the United States and were sentenced by a judge in Portland, Oregon, to six months in federal prison. The investigation began three years ago, when authorities found a helmeted hornbill mandible while searching an international package headed to Forest Grove, Oregon. Undercover agents then purchased orangutan skulls, bear claws, a ... Read More »

FBR recovers Rs 6.8m from two tax defaulter companies

KARACHI: The Regional Tax Office-III (RTO-III) of the Federal Board of Revenue (FBR) recovered Rs 6.8 million by attaching the bank accounts of two private companies involved in tax evasion. Sources informed Customs Today that Al Shamsi Handicraft and Export, and Sarfraz Garments had been reluctant to deposit their taxes for the last two years. The FBR issued many notices ... Read More »

Deputy Collector Asma Hameed declares seizure of Titan truck legal

FAISALABAD: Customs Adjudication Deputy Collector Asma Hameed issued Order-in-Original (ONO) in favor of Anti-Smuggling Organization (ASO) Faisalabad. Sources informed Customs Today that superintendent ASO seized foreign origin Titan truck bearing registration number. WHF-101272 model 2001 sky blue colour. The vehicle was brought into country without payment of customs duty and taxes. During the proceedings of the case, the owner of the ... Read More »

Sialkot ASO launches campaign against traders selling smuggled items

SIALKOT: The Anti-Smuggling Organization (ASO) has launched a campaign against shopkeepers who are allegedly involved in selling smuggled electronic items across the country. These smuggled items are being sold by the traders under the pretext of Afghan Transit Trade. Sources told Customs Today that raids are being conducted on the basis of secret information about sale of smuggled electronics goods ... Read More »

Swiss firms seeking business opportunities in Pakistan: Roger M. Kull

ISLAMABAD: Many big Swiss companies were doing successful business in various sectors of Pakistan’s economy and more were interested to explore Pakistan as they considered it a promising country for business and investment. Pakistan was making good economic progress and entrepreneurs of both countries have to work together to take bilateral trade to higher levels. This was said by Mr. ... Read More »