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Nato/Isaf transit cargo: Processing, clearance only under WeBOC

KARACHI: The Directorate General Transit Trade, Customs House Karachi has announced that processing and clearance of US/Isaf/Nato transit cargo will only be carried out under the Web-Based Customs Computerised System (WeBOC) and all their ‘transit Goods Declarations (GDs)’ shall be filed under this system. The Directorate has also notified that the Afghan importers or their authorised customs clearing agents shall ... Read More »

Smuggling makes headway at the cost of our livelihoods: Lashari

LAHORE: With the passage of time smuggling is progressing which has dangerously ruined the economic health of the country and the government has failed to arrest the menace completely. This was stated by Lahore Chamber of Commerce and Industry President Sohail Lashari while exclusively talking to Customs Today here. The president said that smuggling has been gaining momentum ever since ... Read More »

Pakistan attaches great importance to ties with UAE: Dar

ISLAMABAD: Federal Minister for Finance Ishaq Dar has said that Pakistan cherished close friendly ties with the people and leadership of the United Arab Emirates (UAE). Talking to Deputy Ruler of Dubai and UAE Minister of Finance and Industry Sheikh Hamdan bin Rashid Al Maktoum, Dar said the foundation of the close and fraternal relations between the brotherly countries was ... Read More »

ANF seizes heroin worth millions of rupees from container

KARACHI: Anti Narcotics Force recovered and seized high quality heroin worth millions of rupees from a container during an operation at Karachi Sea Port. The heroin was hidden very skillfully in cartons of kinnow. The heroin was being smuggled to Malaysia by two culprits who are arrested. A case has been registered against them and investigation is underway. Further arrests ... Read More »

Asad shows contentment on tax collection so far

ISLAMABAD: FBR Official Spokesperson Shahid Hussain Asad said that there should be 5 per cent annual economic growth where there is 10 per cent inflation. Keeping this in view the tax collection is remarkable. While talking to Customs Today, he informed that there is 34% growth in collection of income tax; 17% growth in collection of sales tax; 4% growth ... Read More »

PR planning dry port at Havelian

LAHORE: Pakistan Railways Minister Khwaja Saad Rafique has said that the ministry is planning to set up a new dry port at Havelian for containers with the consent of Chinese government. “A dry port is being planned at Havelian for holding containers with the cooperation of the Chinese government and about 2 million tonnes of goods per year could be ... Read More »

Refund payments: FBR suggests issuance of Rs58b bonds to banks

ISLAMABAD: The Federal Board of Revenue has proposed to the Ministry of Finance to issue investment bonds to banks worth amounting to Rs58 billion for settlement of huge amount of outstanding refund payments during 2013-14. The FBR has drafted the proposal for consideration by Finance Minister Ishaq Dar but the ministry has not taken any decision so far. The FBR ... Read More »

Customs Valuation dept re-determines values of chocolates

KARACHI: The Directorate General of Customs Valuation has re-determined the customs values of chocolates (HS Code 1806.3100,1806.3200, 1806.9000) through Valuation Ruling No. 636/2014 under section 25-A of the Customs Act, 1969 which supersedes the previous Valuation Rulings No. 508/2012 and 529/2012. According to details, the customs value of Toblerone (Milk) 35 grams from all origins having Pakistan Customs Tariff (PCT) ... Read More »

CA firms consent to pay ST on services to SRB

KARACHI: The Chartered Accountants have agreed to pay sales tax on services to Sindh Revenue Board (SRB) and withdrawn the petition filed against the levy of tax on services in Sindh High Court. As per details, five top Chartered Accountants firms had moved the SHC against the Sindh government decision to collect sales tax on services. In the petition, the ... Read More »

Raana Ahmed gets additional charge of Pral CEO

ISLAMABAD: Federal Board of Revenue Member Information Technology Raana Ahmed has been given additional charge of CEO Pakistan Revenue Automation Limited (Pral) while existing Pral CEO Imtiaz Ahmad Khan has been made General Manager. The decision was made at the Board of Directors meeting of Pral chaired by FBR Chairman Tariq Bajwa at FBR House. According to details, the FBR ... Read More »

KPT playing vital role in strengthening economy

LAHORE: Chairman Karachi Port Trust (KPT), Rear Admiral (Retired), Azhar Hayat has said that the KPT is playing a vital role in strengthening country’s economy. He said that efficiency of KPT has been improved due to privatization of two terminals. Law enforcement agencies were cooperating in the recovery of illegally occupied lands of the port. There were some difficulties in dealing with the land grabbers ... Read More »

German pizza in Switzerland: Customs clearance first

BERNE: German and Swiss food lovers were enjoying a flourishing trade in Italian food delivery, but customs officials in Switzerland finally noticed and are putting a stop to it. According to local media, ordering a Margherita pizza for delivery in some Swiss border towns near Germany cost between 13.50 and 15 Swiss francs, or between $14.94 and $16.60. But Swiss customers ... Read More »

Adjudication Collectorate decides 80pc of cases in 10-12 days

KARACHI: There is no backlog of cases at the Collectorate of Adjudication as the department has timely and efficiently summoned the parties concerned (importers and exporters) and settled down their issues. A senior officer of the Adjudication Collectorate told this to Customs Today while requesting anonymity here. He said that cases had been decided speedily and efficiently after the introduction ... Read More »

Representatives from all over Pakistan to join pre-budget consultations

KARACHI: Representatives from more than 24 chambers of commerce and industry and associations from all over Pakistan are expected to participate in Karachi Chambers of Commerce and Industry (KCCI) pre-budget consultative meeting scheduled to be held on February 4, 2014. KCCI will compile comprehensive budget proposals after getting input from representatives of trade and industrial associations and send them to ... Read More »

Export of kinnow, potato surges

KARACHI: Pakistan’s export of kinnow is on the rise as the season for its production is at its peak. A huge quantity of the fruit worth $88.9 million has been exported so far equal to 4000 TEUs. However in case of the fruit’s export to Russia the volume has now been restricted to 30 per cent as compared to last ... Read More »

Trade with India: PVMA for retaining ghee in negative list

KARACHI: The Pakistan Vanaspati Manufacturers Association (PVMA) has urged the government to retain vegetable ghee, cooking oil and other edible oils (raw material) in the negative list while granting Non-Discriminatory Market Access (NDMA) to India. PVMA Chairman Shaikh Abdul Razzak is scheduled to take up of the issue with Federal Minister for Commerce Khurram Dastagir on Tuesday (today). He will ... Read More »

Suzuki Motors favours autoparts import from India

ISLAMABAD: Pakistan Suzuki Motor Company, the largest assembler of automotive vehicles in Pakistan, has supported the opening of autoparts imports from India. Suzuki’s stance is, however, being opposed by other major assemblers i.e. Indus Motors Limited- assemblers of Toyota and M/s Atlas Honda- manufacturers of Honda cars. Suzuki is operating under a Japanese management and supporting trade with India because ... Read More »

FBR issues new sales tax registration form

ISLAMABAD: After issuing SRO (I)/2014 and replacing Form STR-1, the Federal Board of Revenue has issued a new sales tax registration form for fresh applicants under the new registration system. The board has provided the applicants with option to file applications with the Local Registration Office (LRO). Similarly if a person is unable to file application for registration or change ... Read More »

Flow of fake currency notes mounting

ISLAMABAD: Circulation of fake currency notes valuing Rs 1000 is continuing unchecked in Karachi company market. Inflow of these fake notes makes rapid way in rush hours particularly in the evening time when all the shops are thronged by the consumers. The cloth shops are the easy targets of the fake currency dealers. “We are the hard hit sufferers as ... Read More »

PIAF asks to save tractor industry from complete shut down

LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) has asked the government to save the tractor industry from complete shut down by reducing the rate of GST. Because of the increase in rate of general sales tax on tractors from 10 per cent to 17 per cent not only the sale of tractors has dropped but also large tractor manufacturing ... Read More »