Pakistan Customs, Tax, Shipping & Business News Resource
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…
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…
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)…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
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…
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%…
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,…
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,…
ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to make it mandatory for individuals to file a tax profile for earning taxable income in the next fiscal. The FBR…
KARACHI: There prevails serious mismanagement at Federal Board of Revenue (FBR), as officers are being transferred on weekly basis and without the consultation of senior officers of Customs and Inland…