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Customs issues valuation of imported lead acid batteries

KARACHI: Directorate General Customs Valuation has issued the details of valuation of imported lead acid batteries, sources told Customs Today . As per details, Directorate General valuation issued valuation No 834/2015 of lead batteries under Customs Act-1969/25A. According to the ruling 834/2015, the valuation over imported lead acid batteries from China, Vietnam, Sri Lanka, will be $1.90 and from Thailand ... Read More »

SHC restrains PCS from action against suspect of Rs 21m tax evasion

KARACHI: The Sindh High Court (SHC) has restrained the Pakistan Customs from taking any action against a developer allegedly involved in evasion of Rs 21.581 million through mis-declaration and claiming exemption from payment of customs duty and general sales tax on import of solar led street lights. A division bench of the SHC gave this restraining order on the petition ... Read More »

Customs seizes eight trucks of smuggled items

LAHORE: The Customs Anti-Smuggling squad of Multan claimed to have seized eight trucks loaded with goods worth millions of rupee. According to custom sources, the anti-smuggling squad raided and seized eight trucks loaded with auto parts, mobile oil, engines and other smuggled items and shifted to dry port Multan.  Customs authorities arrested the truck drivers they are being interrogated, the ... Read More »

ASO Sialkot seizes smuggled electronic goods

SIALKOT: The Anti-Smuggling Organization (ASO) intelligence squad Sialkot has seized a bulk of the smuggled electrical appliances, including radios, home theaters, mobile phones, LCDs and LEDs from a dubious truck during a special checking on main GT Road near Pindi Bhattian. According to the senior officials of the Model Customs Collectorate Sialkot, the said electronics goods worth millions of rupees ... Read More »

LHC bars NAB from taking action against two businessmen  

LAHORE: A division bench of the Lahore High Court (LHC) has barred the National Accountability Bureau (NAB) from proceedings against two businessmen of Lahore, Ahmed Hamayun and Ahsan Hamayun, for being defaulters of a bank loan. A division bench headed by Justice Mahmood Maqbool Bajwa restrained the NAB authorities from taking coercive measures against the petitioners and referred the petition ... Read More »

Customs Court adjourns 25 cases on Saturday

LAHORE: In the Special Federal Court of Customs Taxation and Anti-Smuggling, 25 different cases were scheduled for hearing on Saturday. The Special Court of Customs Taxation and Anti smuggling proceeded on many cases while few adjourned without any proceedings. The Customs Court adjourned most of the cases because their previous record has been shifted to newly form Judicial Complex where ... Read More »

Sales tax evasion: Punjab Revenue Authority seals 3 marriage halls

LAHORE: The Punjab Revenue Authority (PRA) has sealed three marriage halls on sales tax evasion in different areas of the city. According to sources, the PRA has once again started crackdown against marriage halls which are involved in sales tax evasion. On Saturday, a team of the Punjab Revenue Authority, under the supervision of assistant commissioner Kashif Nawaz, raided different areas ... Read More »

FBR decides to blacklist sales tax defaulters

KARACHI: The Federal Board of Revenue (FBR) has decided to blacklist sales tax defaulters by the end of current year. Sources of FBR told Customs Today that a new mechanism is being introduced to enhance ratio of compliance. The new mechanism will empower FBR to blacklist all those defaulters who are not submitting their tax returns for fiscal year 2014-15 despite ... Read More »

Anti-Corruption Establishment arrests 13 corrupt govt officials

SIALKOT: The Anti-Corruption Establishment (ACE) continued its crackdown against the corrupt officials and has arrested  as many as 13 more corrupt officials of several government departments, including police, revenue , education and health departments in Gujranwala Division. According to senior ACE officials, the said officials were directly involved in corruption, taking bribe, funds embezzlement and misuse of their officials powers. The ... Read More »

WEBCOP’s Malik Tahir hails formation of Council on Kalabagh Dam

LAHORE: Chairman of Workers Employers Bilateral Council of Pakistan (WEBCOP) Malik Tahir Javed has welcomed the establishment of Council on Kalabagh Dam and termed it a step in the right direction. According to a statement, Malik Tahir Javed said that establishment of council will help early construction of Kalabagh Dam. He said that the council should call an urgent meeting ... Read More »

Integration of South Asia

South Asian, which is the home of 1.7 billion people, has been branded as the fast growing region in the world in terms of economic, trade and development, but is also backward as compared to many other parts of the world. A forum in the shape of SAARC was established to enhance close cooperation among the countries in the region, ... Read More »

Iran announces date for int’l conference on oil, gas

TEHRAN: Iran has announced the three-day oil and gas conference in London in February next year to attract foreign investors awaiting new contract terms to be unveiled next month. Oil majors have expressed interest in returning to Iran as soon as international sanctions linked to its nuclear programme are lifted, but they are currently still barred from signing any deals. ... Read More »

Customs determines values of furnishing cloth‏

MULTAN: Directorate of Customs Valuation determined the customs values of imported curtain and sofa cloth after review. According to details, Directorate of Customs Valuation issued the Ruling No 765/2015 after revisiting the previous Customs values of imported curtain and sofa cloth. The market value of the imported curtain and sofa was far different from the market and Customs has taken ... Read More »

GAP holds exhibition to improve export of precious stones

PESHAWAR: The Gemological Association of Pakistan (GAP) hold an exhibition which attracted large visitors including local foreign buyers. The show having more than 100 stalls of different precious and semi-precious stones was begun the other day and will continue till the evening of the Sunday October 11, 2015. The Gems and Mineral Show was used to be annually organized in ... Read More »

FIA Red Book: Islamabad tops with 34 human smugglers

ISLAMABAD: With 34 human smugglers in Red Book of the Federal Investigation Agency (FIA), Islamabad is on the top of the list, it is learnt here. According to details, 124 human smugglers’ names are included in the sixth edition of the Red Book of FIA, while their income has been recorded at $32 billion. Sources said that 34 human smugglers ... Read More »

Chief Justice LHC to inaugurates new Judicial Complex tomorrow

LAHORE: Chief Justice Lahore High Court  Manzoor Ahmed Malik will inaugurate the newly-constructed building of Judicial Complex where Customs Court will be shifted soon. According to the Lahore High Court (LHC) media cell, the chief justice will inaugurate the building to start proper working there. All lower courts of the city are being shifted to the new building in coming ... Read More »

China customs asks Mainland buyers to pay 10% tax for HK iPhones

SHENZHEN CITY: Customs in Luohu, Shenzhen City has reminded mainland buyers to pay a 10 percent tax for their iPhone 6S/6S Plus devices bought in from neighboring Hong Kong Special Administrative Region. It was explained that although the Chinese Mainland and Hong Kong are among the first regions to sell the latest iPhone models, they are still two separate markets. ... Read More »

Bangladesh customs confiscates 45 gold bars

DHAKA: Customs officials at Bangladesh’s main airport in capital Dhaka on Saturday seized 45 gold bars weighing 45 kg from three passengers from Malaysia, an official said. SM Sohel Rahman, assistant commissioner of the Customs Intelligence Department, told journalists that “We’ve seized 45 gold bars weighing about 45 kilograms from three persons who landed here from Malaysia by a Malaysian ... Read More »

Iran signs deal with int’l oil companies to develop LNG projects

TEHRAN: Much of the focus on the impending opening up of Iran has been on what this means for the oil industry. However, even bigger shockwaves could be felt in the natural gas sector, should economic sanctions restricting the Persian Gulf powerhouse be fully lifted. Tehran’s reintroduction to the international community would fire the starting pistol on a natural gas ... Read More »

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