Asif Mehmood Jah critically injured in road accident
LAHORE: Chief Collector of Customs Dr. Asif Mehmood Jah met a road accident at the Islamabad Lahore motorway Friday morning due to thunderstorm and poor visibility resulting into his crashing…
Customs all set to lodge FIR against M/s Model Paper and Board Mills for fiscal fraud
KARACHI: Customs Appraisement East has detected a fiscal fraud committed by M/s Model Paper and Board Mills, wherein the importers attempted to clear high value and high tariff goods including…
14 PCS officers promoted to BS-19
KARACHI: The Federal Board of Revenue (FBR) has notified promotion of 14 Pakistan Customs Service (PCS) officers of BS-18 into BS-19 with immediate effect. The promoted officers include Ali Raza…
Customs Quetta seizes 180kg of Hashish
QUETTA: MCC Preventive Quetta foiled an attempt to transport narcotics and seized 180 kg of Hashish worth Rs36 million. Information was passed through Collector Preventive Irfan Javed regarding movement of…
Customs Quetta recovers smuggled goods worth Rs40 million
QUETTA: Model Customs Collectorate (Enforcement and Compliance) Quetta and FC (North) in a joint intelligence based operation raided two godowns simultaneously in the Kuchlak area of Quetta and recovered huge…
ASO Preventive Karachi seizes large quantity of smuggled betel nut, crockery
KARACHI: ASO of MCC Preventive Karachi has seized large quantity of betel nut along with transporting vehicles worth Rs63.855 million. Information was received through Collector Preventive Saquif Saeed to Additional…
Dost Muhammad transferred to Islamabad
KARACHI: The Director General of Customs Intelligence and Investigation Abdul Rasheed Sheikh has notified transfer of Principal Appraiser Dost Muhammad to Directorate Directorate General of Customs Intelligence and Investigation (HQ)…
Customs North seizes huge quantity of hashish worth Rs330 million in D.I. Khan
ISLAMABAD: Customs Staff of North Region posted at Dera Ismail Khan Customs (Enforcement) in pursuance of a credible information, recovered 1,080 kgs of Hashish valuing Rs. 330 millions, from secret…
ASO Air Freight Unit seizes large quantity of Boostin hormone injections
KARACHI: Anti-Smuggling Organization (ASO) at Air Freight Unit (AFU) has tightened monitoring of courier parcels and during the process seized large quantity of Boostim (Somatotropin) injections and other goods worth…
FBR stops all cash rewards/honoraria for officers
KARACHI: The Federal Board of Revenue (FBR) has notified for all field formations of Pakistan Customs Service (PCS) and Inland Revenue Service (IRS) that no sanctioned or unsanctioned amount of…
Body of Zahid Khokhar moved to Lahore for burial
KARACHI: The body of Director General Transit Trade Zahid Khokhar was dispatched via flight PK304 to Lahore for his final rites. A large number of Customs officers and officials were…
Incentive package for construction incorporated in Finance Bill
KARACHI: The incentive package for construction industry promulgated through a Presidential Ordinance has been incorporated in the Finance Bill, 2020. The President of Pakistan promulgated the Tax Laws (Amendment) Ordinance,…
FBR gets irrevocable powers to access or integrate their systems with agencies, utilities and organizations
KARACHI: The Finance Bill 2020 proposes the right of Federal Board of Revenue (FBR) to access or integrate their systems with certain agencies and organizations, will override any restrictive provisions…
Concept of ‘agreed assessment’ proposed to facilitate taxpayers
KARACHI: The concept of an ‘agreed assessment’ is proposed to be introduced in the Income Tax Ordinance, 2001. Though not defined in the Ordinance, an agreed assessment represents a status…
Government introduces concept of ‘tax profile’
KARACHI: Certain provisions are being introduced to define the concept of ‘tax profile’ and to prescribe penalties and other negative consequences for taxpayers who fail to file or update their…
Industry can’t claim expenditure attributable to sales made to unregistered persons
KARACHI: An industrial undertaking will not be allowed to claim any expenditure attributable to sales made to such persons who are required to be registered but not registered under the…
Automated initial scrutiny process for deemed assessments laid down in Income Tax Ordinance
KARACHI: A specific process has been laid down for the deemed assessment under section 120 of the Income Tax Ordinance, 2001. The Income Tax Ordinance, 2001 by way of section…
A.F Fergusons expects effect of the pandemic to subside in the following months
KARACHI: It is expected that the consequences and effect of the pandemic will subside in the following months and Pakistan will be again on the trajectory of growth of 3%…
Hafeez Sheikh admits tax target unachievable
ISLAMABAD: Adviser to the Prime Minister on Finance Dr Hafeez Shaikh has advised the provinces not to make their budgets on the basis of proposed Rs4.963 trillion tax collection target,…
Three FBR officers promoted to BS-22
KARACHI: The establishment division on Friday notified promotion of three senior officials of Federal Board of Revenue (FBR) to BS-22 with immediate effect. According to notification issued by the FBR,…