Saturday , November 28 2020
Breaking News
Home / Author Archives: M Hayat

Author Archives: M Hayat

Importers urges govt to stop smuggling at borders

LAHORE: The business community announced to hold protest demonstrations against customs anti-smuggling organization from September 1. The traders announced that the government should put checks on the smuggling activities at the borders instead of raiding in markets. The traders held a meeting against the ASO under the chairmanship of Khawaja Amir Nazir in the Shah Alam Market along with other ... Read More »

Govt exempts QABP from duty, taxes on import of industrial machinery

LAHORE: The federal government has granted a concession of tax holiday and exemption of duties and taxes on import of industrial machinery in Quaid-e-Azam Business Park (QABP). Meanwhile the electricity supply is up to 2.2 megawatt is available for those who immediately are interested to set up their industrial units. Furthermore, the gas pipeline infrastructure is almost ready. This was ... Read More »

LCCI forms committee on parking plazas & encroachments

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) tasked its executive committee member Khadim Hussain with construction of new parking plazas in city’ s centers where space is available on public and private basis. The two time EC member is basically belong to marble business but has strong command over trading class issues. Mian Tariq Misbah the president, LCCI took ... Read More »

Collector AIIA Azmat Tahira distributes work among deputy, assistant collectors

LAHORE: Collectorate of Customs Allama Iqbal International Airport (AIIA) Azmat Tahira has issued office order for distribution of work among following officers with immediate effect and until further orders:- Usman Tariq, Deputy Collector assigned work at H.Q, MIS-I, Group-III ICG assessment, ICG examination, law, I&P, ACCU Saqib-ur-Rehman, Deputy Collector, assigned work at airport (traffic), accompanied baggage, state warehouse, export, adjudication, ... Read More »

FBR urged to ensure corrections pertaining to charging of minimum tax liability by system

LAHORE: In letter written to FBR chairman the Pakistan Tax Bar Association (PTBA) has received many complaints / requests from the affiliated tax bars of the country that the income tax return for tax year 2020 needs some corrections pertaining to charging of minimum tax liability by the system because the system / IRIS e-portal is calculating/ charging minimum tax ... Read More »

Afghanistan, Iran Customs collaborate with Pakistan to set up border markets

LAHORE: Customs authorities of both Afghanistan and Iran have started cooperating with Pakistan in order to establish customs border markets at border areas of these two neighboring countries. The policy will be drawn out with the help of Afghan authorities and Iranian customs for establishing border markets in these areas. Regarding this, the FBR is also interacting with the customs ... Read More »

Govt likely to dissolve all customs, tax tribunals

LAHORE: The government is all set to dissolve Customs and tax tribunal and establish a larger tax court under the headship of retired judges of the supreme court of Pakistan and high courts, a source said. As per details, it has been decided that all the tax tribunals including customs and tax insurance, environmental and other will be dissolved and ... Read More »

FBR yet to establish extravagance, tax evasion in ‘extravagant’ Lahore wedding

LAHORE: Federal Board of Revenue report furnished on the allegedly extravagant wedding ceremony of Gujranwala industrialist’s daughter failed to establish the ceremony was indeed extravagant. According to the sources, FBR investigation team delegated to ascertain any anomalies in the ceremony submitted its report to the head office today without proof of tax evasion, extravagance or anomalies in transactions. Moreover, the ... Read More »

FBR asked to fix final date of filing of tax return once shortcomings in tax return corrected

LAHORE: The Federal Board of Revenue (FBR) should fix final date of filing of tax return once tax return is corrected completely. The mistakes in the tax return can be corrected with the due consultation with the tax bars. He said the tax return is yet to be corrected despite the fact that several months have been passed since January ... Read More »

Multan ASO seizes smuggled items worth Rs190m near Sakhi Sarwar

MULTAN: Collectorate of Customs Anti-Smuggling Organization (ASO) seized smuggled items valuing around Rs 190 million including vehicles under customs act 1969. Sources told Customs Today that Collector Muneeza Majeed received credible information about some smuggling attempts on 17.11.2020. She directed anti-smuggling squads to enhance vigilance on the suspected routes to thwart any attempt of smuggling. The anti-smuggling squad intercepted four ... Read More »

Customs I&I seizes smuggled goods worth Rs40m

LAHORE: Directorate of Customs Intelligence and Investigation (I&I) has seized smuggled goods worth Rs40 million near Pattoki. Sources told Customs Today that Director Customs I&I Asad Raza has directed his team to keep strict vigilance on the movements and distribution of smuggled goods in the jurisdiction. The Customs I&I undertook a crackdown against smuggled goods belonging to notorious smugglers Niaz ... Read More »

FBR working to establish close liaison with business community

LAHORE: The Chief Commissioner Inland Revenue Ahmad Shuja Khan has said that FBR is working to establish close liaison with business community. The Chief Commissioner was speaking at an interactive session with businessmen in Lahore. The Chief Commissioner added that it was a long standing demand of the business community that tax forms are cumbersome therefore it was decided to ... Read More »

Customs ASO impounds over Rs2b contraband goods, vehicles

LAHORE: Collectorate of Customs Enforcement & Compliance (E&C) Anti-Smuggling Organization(ASO)  has seized over Rs2 billion contraband goods, vehicles during July 1 to November 14, 2020, registering a handsome growth of  367.73 percent as compared to the same period  last  financial. According to the details, Collectorate of Customs Enforcement & Compliance, Lahore has thus delivered an unprecedented performance since the new ... Read More »

Govt wants to reduce undue burden of duty, taxes: Hammad Azhar

LAHORE: The government has always wanted to reduce undue burden of taxes to ensure fast growth of trade, industry and economy. He said that economy of Pakistan has taken a remarkable turnaround and economic indicators are portraying a positive picture. Global economy is squeezing at the rate of 4.5 per cent while Indian economy is squeezing over 10 percent due ... Read More »

Customs ASO seizes goods & vehicles worth Rs2007.36m

LAHORE: The Anti-Smuggling Organization of Customs Collectorate of Enforcement & Compliance on the directions of Basit Maqsood Abbasi, Collector of Customs  headed by  Muteen Alam, Additional Collector, Ali Tauqir, Assistant Collector, Isfandyar Ikram Khan, Assistant Collector, and team consisting of Abdul Hameed Bhatti, Nasir Saeed, Abdul Rehman Butt, Hassan Mehmood, Abdul Ghaffar and M. Asghar Purewal,  inspectors seized huge quantity ... Read More »

Courier companies will file GD in WeBOC system

LAHORE: The courier companies will file Goods Declaration (GD) in the WeBOC system on behalf of e-commerce exporters, sources said on Friday. It is a joint effort with State Bank of Pakistan (SBP), commerce ministry, and e-commerce operators, to formulate a facility that would promote consumer e-Commerce exports, according to a press statement issued by the Federal Board of Revenue. ... Read More »

Customs I&I impounds over Rs520m goods & vehicles

MULTAN: Directorate of Customs Investigation and Intelligence Multan impounded over Rs 520 million goods and articles during the month of October 2020. The seized goods and articles included betel nuts, tyres, cigarettes, cloth, auto parts, medicine, cars and other items. The official sources said that the Collectorate conducted over 200 percent additional operations against the smuggling to come over the ... Read More »

New e-portal to deal with auction of goods seized by Pakistan Customs

LAHORE: The Federal Bureau of Revenue (FBR) has launched a new e-portal for the auction of assets and goods confiscated by the customs department. The new system will enable potential buyers to purchase goods without being physically present in auctions that are held inside customs warehouses. The new e-auction system will enable the customs department to hold auctions online. It ... Read More »

Chief commissioner LTU assures expeditious resolution of tax issue

LAHORE: Chief Commissioner Large Taxpayer Unit (LTU) Lahore Qaiser Iqbal has assured members of All Pakistan Textile Mills Association (APTMA) of expeditious resolution of all tax issues, including refund claims, as the government is committed to facilitate trade and industry and sanction all pending income tax and sales tax refunds in order to relieve the export oriented industry from liquidity ... Read More »

MEFRA urges govt to take stock of uncalled for harassment promoting show-cause notices

LAHORE: Manufacturers and Exporters Association of Ferozepur Road Lahore (MEFRA) chairman Syed Hammad has urged the government to take notice of the uncalled for harassment generating notices being issued by the government department including State Bank of Pakistan, Wasa and others. He expressed these views while explaining the bottlenecks in way of conducting smooth business to the Lahore Chamber of ... Read More »