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Saudi Aramco Trading offers 2.1m barrels diesel for late July loading

RIYADH: Aramco Trading Company, a subsidiary of oil giant Saudi Aramco, has offered 2.1 million barrels of diesel for loading in late July, tender documents showed on Tuesday. The company has offered two cargoes of 700,000 barrels each of 10ppm sulphur diesel for loading over July 29 and July 31 in a tender that closes on July 15 and is ... Read More »

Customs’ Post Clearance Audit detects Rs 83.9m tax evasion on silos’ import

KARACHI: The Pakistan Customs’ Directorate of Post Clearance Audit (PCA) has detected some Rs 83.9 million evasion of sales tax on import of silos classifiable under PCT 9406.0030, it is learnt. Sources told Customs Today that during scrutiny of import data pertaining to silos, it has been found that importers availed concession of 8th (sales tax) dated 25.6.2014 and paid ... Read More »

Faisalabad Oil Refinery evades Rs 3.33m sales tax on Silos’ import

KARACHI: The Customs’ Directorate of Post Clearance Audit (PCA) has detected evasion of sales tax of Rs 3.33 million on import of Silos classifiable under PCT Heading 9406.0030, it is learnt. The evasion of sales tax was found during the scrutiny of import data pertaining to Silos by the PCA Directorate. The importer M/s Faisalabad Oil Refinery Pvt Ltd had ... Read More »

Withholding tax on bank transactions hampering real estates business‏

LAHORE: The recently levied 0.3 percent withholding tax on non-filers of tax on all banking transactions, exceeding Rs 50,000 a day, is stalling real estate market activity, according to Pakistan’s best real estate website, Lamudi Pakistan. The real estate sector of Pakistan had already been facing a slowdown in the first quarter of 2015 and with this newly imposed tax, ... Read More »

Tax evasion: Asia Flour Mills evades Rs 2.24m sales tax on Silos’ import

KARACHI: The Customs’ Directorate of Post Clearance Audit (PCA) has detected evasion of sales tax amounting to Rs 2.24 million on import of Silos classifiable under PCT Heading 9406.0030, it is learnt. The evasion of sales tax was found during the scrutiny of import data pertaining to Silos by the PCA Directorate. The importer M/s Asia Flour Mills, Sheikhupura had ... Read More »

DG Valuation remands back ‘adhesive tape valuation case’ to director

KARACHI: The Director General of the Directorate General Customs Valuation Samaira Nazir Khan has disposed of a review petition regarding the valuation of electric insulation tape, stationary tape, self adhesive tape OPP/BOPP tape (jumbo rolls) through Order in Revision No. 123/2015 under section 25-D of the Customs Act, 1969. The revision petition was filed under section 25-D of the Customs ... Read More »

Customs seizes hashish worth Rs 42 million

ISLAMABAD: The Customs Intelligence and Investigation Peshawar has recovered 710 kilograms of hashish and impounded a vehicle during operation. The price of the drug is Rs 42 million in market. According to details, the Customs Intelligence and Investigation Peshawar received an information that an attempt to smuggle drugs from Peshawar to other cities of Pakistan would be made. After receiving ... Read More »

FBR to form committee to look into tax cases of Axact

ISLAMABAD: The Federal Board of Revenue (FBR) is considering forming a two-member committee to scrutinize the tax payments by Axact. The notification in this regard is going to be issued in near future. The committee will submit its recommendations regarding levy of taxes on Axact company, the time period allowed to complete its task within two months. This committee is ... Read More »

Multan Customs to open new offices in DG Khan, Sadiqabad and Sahiwal soon: Sarfraz Warraich‏

MULTAN: The Multan Customs is likely to establish three new range offices in the region of Dera Ghazi Khan, Sadiqabad and Sahiwal, which will be manned by assistant and deputy collector for effectively curbing smuggling. Talking to Customs Today, Multan Customs Collector Sarfraz Ahmad Warraich said that a major milestone of the collectorate during fiscal year 2014-15 was the inauguration ... Read More »

Customs Appellate Tribunal orders re-determination of gas hobs values

KARACHI: The Customs Appellate Tribunal has set aside a Valuation Ruling 618/2013 and ordered the Valuation Department to determine the values of gas hobs strictly in accordance with Section 25 of the Customs Act, 1969 afresh. According to the details, several importers imported gas hobs from one-burner to five-burners from China and declared unit value as 10 for 5-burners, $7 ... Read More »

Customs Court extends judicial remand of alleged smugglers  

LAHORE: The Special Court of Customs Taxation and Anti-Smuggling has sent two accused involved in smuggling of polyvinyl chloride coaxial cable on a 14-day remand which is an extension of their judicial remand. As per details, two accused Abdul Saboor and Shamul Haq were arrested by the Customs Intelligence following the charges of smuggling and later were sent on judicial ... Read More »

Customs PCA detects Rs 3.81m sales tax evasion by M/s Dummer Flour Mills

KARACHI: The Directorate of Post Clearance Audit (PCA), Customs has detected Rs 3.81 million sales tax evasion on import of silos classifiable under PCT Heading 9406.0030. The evasion of sales tax was found during the scrutiny of import data pertaining to silos by the PCA. The importer M/s Dummer Flour Mills Private Limited, Faisalabad had imported silos from Turkey with ... Read More »

Sales tax evasion: PRA seals beauty salon of Rabi Peerzada

LAHORE: Punjab Revenue Authority has sent many notices to famous singer, and actress  Rabi Peerzada for recovery of sales tax but after getting no response from Rabi Peerzada authorities decided to seal beauty salon owned by her. According to sources, a famous beauty salon in Barkat Market Garden Town owned by actress and model Rabi Peerzada has sealed due to ... Read More »

Auction: Faisalabad Customs makes Rs 12.89m in June,2015; Rs 63m in FY2014-15

FAISLABAD: The Model Customs Collectorate Faisalabad has earned Rs 63.431 million through auction of smuggled items during fiscal year 2014-15 with almost 300 percent increase than the corresponding year 2013-14. As per details, the Faisalabad Customs acquired almost Rs 2 million by auction of confiscated items during financial year 2013-14. Officials told Customs Today that employees of Faisalabad region showed ... Read More »

Pakistan-India trade through Wagha to remain close for 5 days

LAHORE: Bilateral trade through Wagha border between India and Pakistan will be closed for Eid holidays and will be resume on Wednesday. It is pertinent to mention here,that Wagha border is main trade route between two neighboring countries. During Eid holiday’s trade activities will be closed between the two countries and it will be resumed again after Eid holidays, a ... Read More »

Inland Revenue officials considering approaching Interior Ministry to put Ayyan’s name in ECL

ISLAMABAD: Although super model Ayyan Ali is free on bail but her entire documents such as her passport, CNIC and other important documents are still in the custody of customs officials. Sources told Customs Today that Ayyan Ali will have to seek permission from Customs Court if she wants to travel abroad. On the other hand, officials of Inland Revenue ... Read More »

FIA arrests suspect from Turkey with Interpol’s help

ISLAMABAD: The Federal Investigation Agency (FIA) has arrested a suspect, Rizwan Habib Eilvy, with the help of Interpol from Turkey. Eilvy is allegedly involved in fraud cases. According to details, cases were registered against the accused in year 2015 but he escaped to Turkey Meanwhile, the FIA has requested Interpol authorities to arrest him. Now the accused is in FIA ... Read More »

ANF Court sentences drug trafficker  to 9 months jail term  

LAHORE: The Federal Court of Anti-Narcotics has sent a culprit to jail for nine months imprisonment in a case of narcotics. According to details, during hearing a case against the accused Anti-Narcotics Force submitted complete challan against Shamoon i while prosecutor presented some witnesses against the accused. It is pertinent to mention here that culprit was arrested by the Anti-Narcotics ... Read More »

Customs Hyderabad seizes smuggled goods worth Rs 511,482,499 during FY 2014-15

HYDERABAD: The  Model  Customs  Collectorate MCC Hyderabad seized   smuggled  vehicles, Iranian  diesel, cloth,  liquor,  contraband  items, cigarettes,  pan parag  and  other  goods  items   worth  Rs. 511,482,499  during fiscal  year June  2014-15 According to details, Collector Dr. Ahmed Mujtaba Memon starts different campaigns against smuggling during the year 2015-15 and seized above said items successfully. The Collector forms raiding teams under  ... Read More »

Dar, Bajwa to meet World Bank officials in Dubai on July 21

LAHORE: Finance Minister Ishaq Dar and Federal Board of Revenue Chairman Tariq Bajwa, along with members of the FBR. will visit Dubai to meet World Bank representative. Finance Minister Ishaq Dar and Federal Board of Revenue Chairman Tariq Bajwa will visit Dubai from July 21 and will remain there until July 23. Inland Revenue-Policy Member and FBR spokesperson Shahid Hussain ... Read More »