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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

Customs Adjudication-I decides 211 cases of Rs 22.15b

KARACHI: The Collectorate of Customs Adjudication-I has decided 211 cases involving Rs 22.15 billion evaded customs duty and taxes during the time period from November 12 to May 14. According to the details, three collectors served as Collector of Customs Adjudication-I during November 12 to May 14. In the reign of Collector Abdul Rasheed Shaikh (Nov 12 to Jan 13), ... Read More »

Appraisement-West to launch Queue Management System

KARACHI: The Model Customs Collectorate (MCC) of Appraisement-West is going to launch “Queue Management System” (QMS) in the Collectorate by the end of this month (August) for the facilitation of importers and clearing agents. This was informed by the Collector, MCC-Appraisement (West) Muhammad Saleem while talking to Customs Today exclusively at his office. Highlighting the characteristics of QMS, Collector Muhammad ... Read More »

Imran’s march on Red Zone: KSE sheds 222 points

KARACHI: The prevailing political turmoil continued to take toll on all sorts of economic activities across the country as stocks saw a huge fall as Karachi Stock Exchange-100 Index declined by more than 222.03 points and reached the level of 28,630 in today trading session. Analysts reflected that if the current political scenario prevailed, the situation in stocks would also remain ... Read More »

Recovery of Rs12.6m: Appraisement (East) gets 2nd instalment today

KARACHI: The Research and Development (R&D) Section of Model Customs Collectorate (MCC) Appraisement (East) will receive another instalment of Rs4 million on Tuesday (today) from M/s Cosmos Enterprises in a Rs12.6 million tax evasion case. The tax was evaded in the clearance of consignments consisted of panaflex sheets and other miscellaneous goods. It is to be noted that the R&D ... Read More »

Customs appraisement-West arranges seating for visitors

KARACHI: The Model Customs Collectorate (MCC) of Appraisement (West) taking the grievances and issues of traders’ community, importers and Customs agents into considerations has arranged proper seating arrangements in assessment halls and outside the offices of deputy collectors and assistant collectors for importers and Customs agents who turn up there for hearing of their cases. The MCC-Appraisement (West) keeping the ... Read More »

Shaheen Air, others receive notices in Rs 4,145m tax evasion case

KARACHI: The Collectorate of Customs Adjudication-I has issued show-cause notices to Shaheen Air International Limited Chairman Ehsan Ali Sehbai, Procurement & Logistics Director Syed Yousaf, Airline Operations Director Faisal Rafiq, Legal Services Director S M Anwar, Shaheen Air International Limited Assistant Legal Advisor Abriaz Ali Khan and scrap dealers Altaf and Basharat on their alleged involvement in Rs 4,145 million ... Read More »

Customs seeks early hearing of valuation guideline cases: Collector

KARACHI: The Model Customs of Collectorate (MCC) Appraisement-West Muhammad Saleem has confirmed that the Pakistan Customs is going to file a Constitutional Miscellaneous Application (CMA) in Supreme Court of Pakistan (SCP) for early hearing of cases relating to valuation guideline issue. He said that customs has already submitted written reply in Islamabad High Court (IHC) in connection with valuation guideline ... Read More »

Imran’s civil disobedience call: KSE drops 65 points

KARACHI: Karachi Stock Exchange 100-index went sliding down by 65.60 points (-0.23 per cent)  to stand at 28852.15 points after the call of civil disobedience from Pakistan Tehreek-e-Insaf Chairman Imran Khan. After its closure on weekend KSE 100-index has lost 211 points in first forty minutes trading touching bottom line of 28681.31 points, however, it gains 250 points in next two hours ... Read More »

ITTMS in doldrums due to lack of funds

KARACHI: The implementation of Integrated Transit Trade Management System (ITTMS) is in the doldrums due to unavailability of funds from International donors, it has been learnt reliably. According to details, the Directorate General of Transit Trade prepared a “working paper” in connection with the execution of Integrated Transit Trade Management System (ITTMS) keeping in view the safety of cargo in ... Read More »

Directorate of Reforms & Automation finalizes Vehicle Assessment Module

KARACHI: The Directorate of Reforms and Automation-FBR has finalized and completed its working on “Vehicle Assessment Module”. The sources in FBR informed Customs Today the said module is being tested now and after this pilot phase it will be run with complete authority by the end of next week. He further informed this scribe that a Goods Declaration (GD) regarding ... Read More »

IOCO starts survey of manufacturing units

KARACHI: The Input-Out Co-efficient Organization (IOCO) on the directives of Federal Board of Revenue (FBR) has started survey of manufacturing units. The IOCO has recently issued provisional certificates to these units for manufacturing products by importing raw materials as per allocated quota. One of the senior officers in IOCO-FBR confirmed that survey of the manufacturing units has been started and ... Read More »

12.6m tax evasion: Appraisement-East gears up for recovery

KARACHI: The Research and Development (R&D) Section of Model Customs Collectorate-MCC of Appraisement (East) has geared up efforts for the arrest of accused involved in the tax evasion to tune of Rs12,600,000 in illegal clearance of panaflex sheets and other miscellaneous goods. It is to be noted that the R&D Section of MCC-Appraisement (East) has filed an FIR against M/s ... Read More »

Stagnant inflow, debt servicing shrink forex reserves

KARACHI: Foreign exchange reserves of the State Bank of Pakistan declined due to external debt servicing and no fresh inflow over the past two months. According to a State Bank report, the reserves held by the bank declined by $89 million to $9.188 billion during the week ended on Aug 8 as against $ 9.277bn in the previous week. Total ... Read More »

Customs seizes 6 kg heroin powder at Karachi airport

KARACHI: The Pakistan Customs Drug Enforcement Cell (DEC) of MCC-Preventive has seized 6 kilogram heroin powder from an abandoned hand bag at Jinnah International Airport, Karachi. According to the details, the DEC staff in pursuance of credible information intercepted an abandoned hand bag at Customs Mis-handled Baggage Section of Jinnah International Airport. As per tags attached to it, the hand ... Read More »

M/s Kashif Electronics served notice for tax evasion of millions

KARACHI: The Collectorate of Customs Adjudication-I has issued show-cause notice to M/s Kashif Electronics for its involvement in huge tax evasion amounting to Rs40,164,427 on import and clearance of Anex Brand home appliances from China through mis-declaration of value and wrong assessment violating the Valuation Ruling No.384. According to the FBR sources, the Directorate General of Customs Intelligence and Investigation-FBR, ... Read More »

KSE 100-index gains 412.20 points despite political chaos

KARACHI: Karachi Stock Exchange (KSE) 100-index after one day closure on Independence Day has gained 412.20 points to end the business week at 28917.25 points with an increase of 1.45 per cent. KSE 100- index intra-day value witnessed improvement even after the political instability as share holders showed maturity. The KSE 100-index intra-day value rose slightly 23.36 to hit highest ... Read More »

Mis-declaration: M/s Ziaul Haq & Sons served show cause

KARACHI: The Customs Collectorate Additional Collector-II (Adjudication) has served importer M/s Ziaul Haq & Sons with a show-cause notice for mis-declaration of imported consignments. According to details, importer M/s Ziaul Haq cleared the consignments of cold rolled coil of prime quality, having PCT 7209.1590, weighting 3,784-kg and Tin plate sheet, having PCT 7210.1290 and 11,000-kg weightage under Section 79(1) of ... Read More »

Importers demand adequate seating arrangement in Appraisement-West

KARACHI: The importers and Customs agents have demanded proper seating arrangements in Model Customs Collectorate (MCC) Appraisement-West for the hearing of their cases. As per details, importers and customs agents have complained that they have to wait in long queues from morning to evening for the hearing of their cases as there was no proper seating arrangement in hearing halls. ... Read More »

Rs4,145m tax evasion: Show-cause issued against Shaheen Air Int’l

KARACHI: A show-cause notice against M/s Shaheen Air International Limited for its involvement in huge tax evasion of Rs4,145 million has been issued by the Office of the Collector, Collectorate of Customs Adjudication-I. According to the details, the charges were leveled against M/s Shaheen Air International Limited that it was involved in huge duty/tax evasion of Rs 4,145 million by ... Read More »

Chief collectors, collectors attend flag hoisting ceremony

KARACHI: A flag hoisting ceremony was held on Thursday in connection with Independence Day at Customs House, Karachi. Chief Collectors Enforcement and Appraisement (South), Collector MCC-Preventive Syed Muhammad Tariq Huda, Collector MCC-Appraisement (West) Muhammad Saleem, Collector MCC-Appraisement (East) Najeeb-ur-Rehman Abbasi, additional collectors, deputy collectors and other Customs officials attended the flag hoisting ceremony. The Chief Collector Enforcement (South) Muhammad Nazim ... Read More »