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Collector Saleem urges officials to achieve revenue target by end of 3rd quarter

KARACHI: Model Customs Collectorate Appraisement (West) Collector Muhammad Saleem on Saturday convened a meeting of additional collectors and deputy collectors of the Collectorate to review the revenue collection performance. During the meeting, Collector Muhammad Saleem reviewed the revenue performance and the current status of revenue collection for third quarters of the fiscal year 2014-15. Saleem stressed upon ensuring achievement of ... Read More »

High-powered committee urges FBR to differentiate between good and bad tax exemptions

ISLAMABAD: A high-powered committee urged the Federal Board of Revenue (FBR) to speed up the process of differentiating between investment/business-friendly and damaging tax exemptions. Different governments have been granting tax exemptions through SROs to benefit a specified sector or group of people. These SROs have been the main source of loss to national kitty in the form of shortfall of revenue ... Read More »

Despite zero direct revenue, Pak economy derives multiple benefits from APTTA

ISLAMABAD: Although no direct revenue has been generated out of Afghanistan-Pakistan Transit Trade Agreement (APTTA), yet national economy has derived multiple benefits out of this agreement. APTTA came into force between Afghanistan and Pakistan on June 12, 1011 and it replaced the 1965 Agreement, Afghanistan Transit Trade Agreement or ATTA. APTTA allows Afghan trucks to carry Afghan products to the ... Read More »

Hyderabad Customs’ inspectors urge FBR chairman to promote them before retirement

HYDERABAD: Model Customs Collectorate (MCC) Hyderabad inspectors asked Federal Board of Revenue Chairman Tariq Bajwa to promote them into the rank of deputy superintendent as promotions are pending with department for ten years. Hyderabad Customs inspectors said that we have been serving department for 28 years and playing role to curb smuggling but we could not get promotion due to ... Read More »

Customs intelligence seizes items worth Rs 250 million in February

ISLAMABAD: Pakistan Customs Directorate of Intelligence and Investigation has confiscated worth Rs 250 million smuggled items including cloth, cigarettes, vehicles, electronics, tyres and tuber, diesel, motor oil, cooking oil etc in February 2015. Under the supervision of Director General I&I Lutfullah Virk, intelligence department not only took effective measure to curb the smuggling and also took disciplinary actions against the ... Read More »

Customs Valuation Department completes data compilation of amended VRs

Valuations Rulings - Pakistan Customs Today News Paper

KARACHI: The Directorate General Customs Valuation have completed the compiling work of items those Valuation Rulings (VRs) were re-determined/re-valued repeatedly on the instructions of Federal Board of Revenue. A consolidated list of such cases which were amended or re-valued more than once since last one and half years has been prepared and submitted to high ups of the Directorate General ... Read More »

Excise impounds MPA Asadullah’s unregistered Land Cruiser

LAHORE: The Excise and Taxation Department team impounded a vehicle of PML-N Member of Punjab Assembly Asadullah in Lahore. As per the details, the MPA from Hafizabad constituency was stopped by Excise Officer Zeeshan Ranjha to check the registration of vehicles near Walton Road. On verifying, the officer found the registration number pasted on the vehicle fake and asked the ... Read More »

Finance Ministry eyes secured & persistent funding to mortgage market through MRC

ISLAMABAD: The Finance Ministry eyes in secured and consistent provision of long term funding to primary mortgage market with the establishment of Mortgage Refinance Company (MRC). Mortgage Refinance is a refinanced loan with lower interest rate which combined with the new lower payments of longer term remaining on loan. A borrower is required to calculate the total cost of a new loan ... Read More »

Customs foils bid to smuggle red chilli seeds in Faisalabad

FAISALABAD: The Faisalabad Customs seized illegally imported red chilli seeds being supplied to Multan from Faisalabad. On a tip-off, Faisalabad Collector Tauseef Ahmad Qureshi directed the anti-smuggling wing to foil a bid to smuggle red chilli. Following the instructions, Anti-Smuggling Organisation (ASO) Superintendent Safdar Iqbal, Inspector Mahmood Ahmed, Inspector Amir Mumtaz Bajwa, Inspector Tanveerul Haq, Inspector Safdar Ali and others ... Read More »

Appraisement-West issues new schedule for hearing of review cases

KARACHI: The Appraisement-West has issued directives that hearing of all review cases will be held until 4pm every day in the offices. According to details, the Appraisement-West has informed all clearing agents and other stakeholders about the new schedule of hearings pertaining to review cases. Sources informed Customs Today that Appraisement-West Collector Muhammad Saleem after consultation with officials has directed ... Read More »

Finance Ministry follows interim arrangement for resource allocation in absence of latest poverty estimates

ISLAMABAD: In the wake of absence of last poverty estimates, the Finance Ministry has been following an interim arrangement for resource allocation and distribution. The previous poverty estimates were published in official reports like Pakistan Millennium Development Goals Report 2013, Pakistan Economic Survey 2013-14 and Annual Plan 2014-15. “This interim arrangement is based on historical basis as per standard Annual ... Read More »

ASO seizes illegally imported ceramic tiles in Faisalabad

FAISALBAD: The Anti-Smuggling Organisation has seized smuggled ceramic tiles which were being transported by a truck into the city. Following the instructions of Faisalabad Customs Collector Tauseef Ahmad Qureshi, the ASO team including Superintendent Safdar Iqbal, Inspector Safdar Ali and others took action and foiled the smuggling bid. As per the details, the ASO team stopped a truck bearing registration ... Read More »

Customs PRV Cell’s strict scrutiny curtails rate of tax evasion cases

KARACHI: Model Customs Collectorate (MCC) Appraisement (West) Post Release Verification (PRV) Cell’s effective scrutiny over import data has decreased the rate of tax evasion cases that causing decline in revenue recovery, is positive sign. This was disclosed by head of PRV Cell while talking to Customs Today. He said that PRV Cell collected almost Rs 20millions revenue during last several ... Read More »

Excise Multan Director Jaam assigns recovery target to motor and property tax branches

MULTAN: Excise and Taxation Department Multan Director Jaam Siraaj has assigned recovery targets to Motor Registration Branch and Property Tax Branch. As per directives of director, each inspector of property tax department must have to seal as many as ten tax defaulter properties in their domain. Departments will provide a list of tax defaulters for taking action against. If any ... Read More »

FBR chief Bajwa says govt spending one third of budget on debt servicing

LAHORE: Federal Board of Revenue (FBR) Chairman Tariq Bajwa has said that seventy percent of the government expenditures are being handled with taxes collected by the Centre and provinces, while the rest of 30 percent are covered by borrowing, which indicates structural error in the system. Addressing a pre-budget seminar arranged by the Lahore Tax Bar Association at a local ... Read More »

Excise Multan collects Rs 97.8 million taxes in Khanewal district

MULTAN: Excise and Taxation Department Multan has collected Rs.38.3 million as property tax from Khanewal district during first eight months of fiscal year 2014-15. Excise Multan has achieved 87 percent of set target for Khanewal distrct in the wake of property tax as target of Rs 39.6 million was allocated to district. Khnanewal  has significant importance as it is higher ... Read More »

ASF foils bid to smuggle heroin to Saudi Arabia

LAHORE: The Anti-Narcotics Force (ANF) at the Allama Iqbal International Airport has arrested an accused who attempted to smuggle 700 grammes of heroin to Saudi Arabia. According to ANF sources, a person named Baz Khan was travelling to Saudi Arabia on a private airline on an Umrah visa. Officials of the Airport Security Force (ASF) seized the suspicion luggage and ... Read More »

Finance Minister Ishaq Dar urges FBR to resolve issues of transporters

ISLAMABAD: Finance Minister Ishaq Dar has directed Federal Board of Revenue Chairman Tariq Bajwa to resolve the issues of transporters regarding customs officials’ behaviour. As per the details, a delegation of the United Goods Transporters Alliance held a meeting at the FBR Headquarters with Finance Minister Ishaq Dar, Chairman FBR Tariq Bajwa, Customs Member Nisar Muhammad Khan and Akhlaq Ahmad ... Read More »

FBR appoints two ADCs at Appraisement-West to fill vacancies

KARACHI: The Federal Board of Revenue (FBR) has finally appointed two senior officers of BS-19 simultaneously at the Appraisement-West in order to fill the sanctioned vacancies of the officers of Grade-19 at the collectorate. According to details, the FBR through a notification appointed Irfan Wahid (BS-19) and Farrukh Sharif (BS-19) at the Appraisement-West. Subsequently, the Appraisement-West has given the responsibilities ... Read More »

Commerce Ministry pursues implementation of international treaties

ISLAMABAD: The Ministry of Commerce has taken all-out measures to ensure implementation of all international treaties. In this regard, the ministry from time to time takes up the issue with the quarters concerned and relevant forums; both domestic and international. “The GSP-Plus scheme is a special incentive arrangement for good governance and sustainable development under which duty-free access to the ... Read More »