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Home / Author Archives: Mubeen Hussain (page 27)

Author Archives: Mubeen Hussain

Customs Preventive foils smuggling of heroin at Karachi airport

KARACHI: The Customs Preventive foiled a drug smuggling attempt and seized heroin worth millions of rupees, besides arresting an accused person. According to the details, Customs Preventive Jinnah international Airport Karachi Additional Collector Feroz Alam Junejo and Deputy Collector Amjad Aman Laghri hold an important press conference regarding seizure of heroin powder at international departures. The officials informed that alleged ... Read More »

Pakistan captures Indian market in EU after getting GSP Plus status

KARACHI: India has lost 37 textile markets in the European Union (EU) over the last two years due to the inclusion of Pakistan in the Generalised System of Preferences (GSP) Plus. The European Union (EU) instituted the Generalised System of Preferences (GSP) Plus status to improve the status of human rights and good governance within the countries. According to the ... Read More »

FBR vows to achieve revenue target before time, eyes on next target

KARACHI: The Federal Board of Revenue (FBR) has expedited its effort to achieve revenue target before the end of the current fiscal year. According to the source, the FBR has boosted its revenue collection from various aspects to achieve revenue collection target of Rs 3,100 billion during the current fiscal year. The FBR has already directed all the Regional Tax ... Read More »

New tracking company for Afghan transit goods to be chosen soon

KARACHI: The Federal Board of Revenue (FBR) has stepped forward to make Afghan Pakistan Transit Trade cargo more secure and reachable anytime and anywhere on the route. According to the sources in Directorate General of Afghan Transit Trade, TPL Trakker Ltd will no longer be delivering GPS and satellite tracking efficient solutions for day to day operations of the Afghan ... Read More »

Afghanistan finalizes agreement with Iran, India for transit trade

KARACHI: Afghanistan has finalized a pact with Iran and India for trade and transport, ignoring Pakistan. The negotiations on Afghanistan, India and Iran for trilateral trade, transport and transit trade agreement have been completed. According to the sources in Directorate General of Afghan Transit Trade, Afghanistan is not giving a good response to Pakistan after getting more attention by India ... Read More »

KPT serves show cause notices on 800 employees

KARACHI: The Karachi Port Trust has served show cause notices on all the employees who got permanent during the year 2012. According to the notices, the employees were not recruited on merit whereas they did not meet the educational, experience and age criteria. The notices also say that the Karachi Port Trust had not found any application by the candidates. ... Read More »

Exporters convince FBR to keep some sectors under zero rated regime

KARACHI: Exporters have convinced the Federal Board of Revenue (FBR) on zero rated sales tax for all export products like before from the registered units. On the other hand, the exporters have agreed to pay six percent general sales tax if they sell or purchase unfinished products from unregistered units. According to sources, a delegation of the exporters held a ... Read More »

Pak-China satellite to monitor economic corridor, borders, smuggling

KARACHI: Pakistan and China will launch Pakistan Remote Sensing Satellite (PRSS-1) for monitoring the economic corridor consisting of 2,442 km from Gwadar to Kashgar. According to the source, Pakistan Remote Sensing Satellite (PRSS-1) will not only be monitoring but will also be keeping eye on border crossing, smuggling from borders as well as terrorist activities. Pakistan Space and Upper Atmosphere ... Read More »

Process to amend Income Tax Ordinance 2001 yet to start

KARACHI: A draft prepared by the Ministry of Finance for amending the Income Tax Ordinance 2001 to stop tax evasion and boost revenues has apparently been held in abeyance. Sources told Customs Today that political unrest is the main cause due to which the process of amending the Income Tax Ordinance 2001 has been frozen at the moment. The Finance ... Read More »

Collector Appraisement East Ashhad Jawwad for making efforts to achieve revenue target

KARACHI: Collector Customs Collectorate Appraisement East Ashhad Jawwad has asked the officers of the Research and Development Department to expedite tax collection and recovery process. Chairing a meeting with the officers of the Research and Development Department, Jawwad asked the attendants to compile data of the last two years imports and the data must be investigated and scrutinized thoroughly. According ... Read More »

Pakistan, Iran agree to start ferry service between Gwadar, Chabahar

KARACHI: A team of Pakistan’s Ports and Shipping Ministry, after completing its visit of the Chabahar Port of Iran, has finalized matters regarding ferry service between the two countries. According to the source, Ports and Shipping Ministry team held several meetings with the high government officials of Iran. In the meetings, ways to expand cooperation between the two countries in ... Read More »

Director Valuation keen to resolve issues of motorcycle spare parts dealers

KARACHI: Customs Valuation Director Dr Wasif Memon chaired a meeting with the delegation of the All Pakistan Motorcycle Spare Parts Importers and Dealers Association (APMSPIDA). The delegation of the APMSPIDA asked the director for the revaluation of the spare parts imported from China. The delegation complained Wasif Memon regarding the smuggling and sale of the spare parts in the local ... Read More »

Finance Ministry for amending Income Tax Ordinance 2001

KARACHI: The Finance Ministry has prepared a draft for amending the Income Tax Ordinance 2001 against the evaders of the income tax to boost revenue generation. According to the source, the Finance Ministry is willing to declare the crime of income tax evasion as money laundering and for this action a draft has been prepared with the help of financial ... Read More »

Customs, boarder security force join hands against fruit smuggling

KARACHI: The Pakistan Customs and boarder security force has joined hands against the elements involved in the smuggling of the fruit smuggled through Iranian boarders. According to the source, both Customs officers and boarder security force have received bundles of complains against the smuggling of the fruits through Iranian border due to which millions of rupees tax evasion have been ... Read More »

Customs keen to root out mega corruption scandal as inquiry against M/s AMI Pakistan widens

KARACHI: The Customs Collactorate Appraisement East has widened the investigation against M/s AMI Pakistan (Private) Limited involved in using fake bill of lading and miss-declaration. The Customs Collactorate Appraisement East has lodged six more FIRs against M/s AMI Pakistan, the company of Marine Group.  Capt Haleem Siddiqui is the chairman of group and its handlers. The Customs Collactorate Appraisement West and ... Read More »

RTO-I directed to verify utility connections availing zero-rating of sales tax

KARACHI: Federal Board of Revenue (FBR) Inland Revenue-Operations (IR) Dr Muhammad Irshad Khan has directed the Regional Tax Office-I (RTO-I) for constituting two teams to verify utility connections availing zero-rating of sales tax by visiting physically to the site. The officials will be authorized under Section 38 of Sales Tax Act, 1990 to conduct inspection in order to prevent misuse ... Read More »

Collector Appraisement-East lauds staff for collecting Rs 51.371 billion in nine months

KARACHI: Arshad Javed, collector Model Customs Collectorate Appraisement-East, has reviewed the progress of overall revenue collection during the last nine months of the current fiscal year. The collector, while chairing a meeting, emphasized the need for checking tax evasion, under invoicing and mis-declaration during the third quarter of the fiscal year 2015-16 to stop millions of rupees losses to the ... Read More »

Anti-corruption drive starts in Inland Revenue, Customs Dept

KARACHI: The Federal Board of Revenue (FBR) has decided to launch a comprehensive anti-corruption drive in Inland Revenue and Pakistan Customs. In this regard, the board has collected details of assets of all the FBR employees. According to the source, in order to strengthen the management unit, the FBR will be identifying potential processes within the FBR that could reinforce ... Read More »

FBR chairman to chair meeting on ATT today

KARACHI: Directorate General of Afghan Transit Trade Director General Javaid Ghani will leave for Islamabad on Wednesday (today) to attend a high level meeting to discuss the different aspects of the transit trade. The meeting on Afghan Transit Trade will be chaired by Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan for beefing up the security and number of ... Read More »

FBR to establish new cell to monitor officers‏ allegedly involved in corruption

KARACHI: A high-level meeting, chaired by the Chairman FBR Nisar Mohammad Khan, has decided to establish a cell to keep an eye on the officers involved in the corrupt practices. The cell will also listen to the complaints of the people, taxpayers and importers. The blanket of the national action plan has now been given to the Federal Board of ... Read More »