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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

REAP slams unprecedented increase in shipping prices

KARACHI: Rice exporters are expressing serious concerns over the rapid increase in charges by shipping companies. Sources said that shipping lines have started taking twice the freight charges from rice exporters during the peak exports season. Rice Exporters Association of Pakistan (REAP) acting Chairman Chela Ram has said that shipping companies have doubled the charges for Mombasa from $3 to ... Read More »

FBR to examine Rs60b exemption certificates

KARACHI: Federal Board of Revenue is going to look into all the exemption certificates issued to importers and manufacturers as around Rs60 billion have been granted under a concessionary regime for the first six months of the fiscal year 2013-14, an FBR official said. The official said that goods imported from July to October attracted around Rs100 billion in income ... Read More »

FBR starts WHT audit of KESC

KARACHI: Federal Board of Revenue has decided to conduct withholding tax audit of Karachi Electricity Supply Company (KESC) to verify deduction of withholding tax under section 235 of the Income Tax Ordinance, 2001. Sources said that FBR has directed the Chief Commissioner Regional Tax Office II (RTO) Karachi to carry out withholding audit in respect of the KESC. According to ... Read More »

FBR for induction of ATT modules in WeBOC

KARACHI: Federal Board of Revenue (FBR) has directed the officials concerned in the Directorate of Reforms and Automation to induct Afghan Transit Trade (ATT) modules in WeBOC, computerised system. Reliable sources told Customs Today that a meeting headed by Project Director, WeBOC was held in the Directorate of Reforms and Automation in Customs House on Monday in this regard. “In ... Read More »

Customs retains import values of motorcycle spare parts, chemicals at previous level till 31st

KARACHI: Pakistan Customs has decided to retain the import values of motorcycle spare parts and chemicals & dyers at the previous Valuation Rulings till December 31, 2013. Spokesman All Pakistan Motorcycle Spare Parts Import and Dealers Association (APMSIDA), Jameel Shah confirmed that the officials concerned in Customs Valuation Department have agreed upon to retain the previous import values of motorcycle ... Read More »

Goods transporters threaten strike over non-redressal of grievances

KARACHI: Goods transporters have threatened to stage a nationwide strike once again after the government failed to redress their grievances. Leaders of the United Goods Transporters Alliance (UGTA) have asked Finance Minister Ishaq Dar to instantly issue directives to the official committee to resolve transporters’ issues. In a meeting, UGTA Chairman Ghulam Yaseen Khan expressed his disappointment over lack of ... Read More »

WeBOC modifications: Mushtaq urges Customs to take all stakeholders into confidence

KARACHI: Pakistan Customs and Reforms & Automation Directorate should take stakeholders into confidence before modifying the automated system, WeBOC. Karachi Customs Agents Association (KCAA) General Secretary Faisal Mushtaq said this while talking to Customs Today during an exclusive interview at his office. Commenting on the recent scenario, the KCAA General Secretary said that the cost of doing business should be ... Read More »

Major exports register increase

KARACHI: Cotton products, pharmaceutical and leather goods have registered a significant increase during the past five months. All Pakistan Textile Mills Association’s former chairman Mohsin Aziz has said that this year the country’s cotton production was likely to be around 10-15 percent higher as compared to last year. High cotton production, relatively higher prices in the international market as well ... Read More »

Pakistani seafood makes way into KSA despite ban

KARACHI: Smuggling of fresh seafood from south Asia to Kingdom of Saudi Arabia is going on through UAE after it banned import of Indian, Bangladeshi and Pakistani fish and shrimp products, sources said. To offset the Saudi restrictions, traders are now using Dubai as a route to smuggle the seafood items into Kingdom’s key cities, they said. The ban was ... Read More »

APMSPIDA, PCDMA reject new guideline of 96 items by FBR

KARACHI: All Pakistan Motorcycle Spare Parts Imports and Dealers Association (APMSPIDA) rejected sudden inflated revision of the assessment of imported goods valuation and demanded of the government to revert it to previous level. They termed the said increase will bring price increase of essential goods besides encourage the smuggling of the products. “The importers are reluctant to clear their imported consignments ... Read More »

SBP reserves decline

KARACHI: Pakistan’s foreign exchange reserves are consistently depleting due to reimbursement of foreign debts. Reserves held by the State Bank of Pakistan (SBP) have declined down to $3 billion. According to the weekly report issued by SBP, the total liquid reserves declined by $177.8 million to $8.06 billion. During the mentioned period, reserves held by the State Bank weakened by ... Read More »

Exporters lament QRC, urge its handing over back to REAP

KARACHI: Rice exporters have alleged that the Quality Review Committee (QRC) has become ineffective under the control of Trade Development Authority of Pakistan (TDAP) saying that it has resulted in decline of basmati rice exports. Exporters said that if its control is given back to Rice Exporters Association of Pakistan (REAP) a fair sampling by QRC would guarantee quality supplies ... Read More »

Customs for resolving clearing agents’ issues

KARACHI: Pakistan Customs has directed its all concerned offices to conduct hearings during working hours (9am to 5pm) to relieve clearing agents. The Collector West made this decision after meeting with Karachi Customs Agents Association (KCAA) President Sheikh Iftikhar. The Collector, after reviewing the problems, directed all the offices concerned to conduct hearings during working hours. Iftikhar also requested members ... Read More »

Four more Valuation Rulings issued

KARACHI: The Directorate General of Customs Valuation has issued four more Valuation Rulings (VRs) and determined the Customs values of Coffee in retail packing in VR No. 615/2013; I.V Cannula/Catheter in VR No.616/2013; Viscose filament yarn fine count (below 75 denier) in VR No. 617/2013 and Alkalized Cocoa powder (HS Code1805.000) in VR No. 619/2013 under Section 25-A of the ... Read More »

100 clearing agents granted bails in missing containers case

KARACHI: The Sindh High Court (SHC) has granted pre-arrest bails to at least 100 Customs forwarding and clearing agents in different references filed by the National Accountability Bureau (NAB) regarding 19,000 missing containers’ scam. The anti-NAB appellate bench, headed by Justice Ghulam Sarwar Korai, granted pre-arrest bail to the agents as NAB prosecutors did not oppose the decision. Earlier, the ... Read More »

Gwadar Customs seizes smuggled Iranian diesel, oil

GWADAR: Model Customs Collectorate Gwadar has seized 41,000 litres of smuggled Iranian diesel during the ongoing month. Sources said that the MCC Gwadar officials have also seized an oil tanker loaded with Iranian diesel bearing registration No TUA-077 recently in its ongoing anti-smuggling operation. The market value of the seized diesel and the tanker is estimated at approximately Rs6.5 million. ... Read More »

Collector Agha Jawwad holds meeting on WeBOC

KARACHI: A meeting on the recent amendments in WeBOC, computerised system was held at Model Customs Collectorate (MCC) Port Muhammad Bin Qasim. Collector MCC Port Muhammad Bin Qasim Dr Agha Jawwad, Additional Collector Sami-ul-Haq and other Customs officials attended the meeting. A detailed discussion was held over the newly-inducted amendments in WeBOC in the meeting. Collector MCC Port Muhammad Bin ... Read More »

Chief Collector Yahya chairs high-level meeting

KARACHI: Chief Collector (Enforcement) Muhammad Yahya on Thursday presided over a high-level meeting on anti-smuggling activities, at 5th floor in Customs House, Karachi. Collector of the Model Customs Collectorate (MCC) Preventive S M Tariq Huda, Deputy Collectors, Assistant Collectors and officials of anti-smuggling organization (ASO) attended the meeting. In the meeting, performance of the ASO was reviewed and the chief ... Read More »

Collector Saleem assures customs agents of timely hearing of their cases

KARACHI: President Karachi Customs Agents Association (KCAA) Shaikh Ifthikar has urged all customs agents to attend the hearing of their cases from 9.00am to 5.00pm daily. He made this announcement after meeting with Collector Model Customs Collectorate (MCC) Appraisement-West Muhammad Saleem, in which the KCAA delegation apprised him of Customs agents’ issues regarding hearing of their cases. President KCAA informed ... Read More »

Importers reject valuation rulings, demand reversal

KARACHI: Business community has rejected the revision of assessment of valuation of imported goods and demanded the government to relapse it to previous levels. Earlier, the customs authorities had changed import values of 96 items including motorcycle spare parts, cloth, coconut, coconut oil, industrial raw material, powder milk and fax paper. All Pakistan Motorcycle Spare Parts Imports and Dealers Association ... Read More »