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Vehicles cleared as ambulances: Connivance causes Rs775m loss to exchequer

ISLAMABAD: The Federal Investigation Agency (FIA) has detected embezzlement to the tune of Rs775 million in the clearance of 308 luxury vehicles under the guise of ambulances, depriving the national exchequer of precious revenue. The agency has also identified 28 customs officials, reportedly, involved in the clearance of 308 luxury vehicles. As per details, the scam came to light during ... Read More »

Pak-Saudi joint ministerial session held

ISLAMABAD: The Joint Pak-Saudi Ministerial Commission meeting discussed several issues concerning bilateral trade and business relation and called for improving bilateral trade and commerce relation. The 10th session of a 2-day meeting concluded in Riyadh being attended by a high-level Pakistani delegation led by Federal Commerce Minister Khurram Dastgir. The Saudi delegation was led by Commerce Minister Dr. Tawfiq Al-Rabeah. ... Read More »

Rs196.3b April target: Collection dips by 20pc in first 15 days

ISLAMABAD: The revenue collection during the first 15 days of the current month has declined by 20.6 percent as Rs6.931 billion could be collected against Rs9.424 billion in the corresponding period last year. As per details, under the prevailing circumstance, the Federal Board of Revenue (FBR) has to collect Rs124.607 billion in the remaining two weeks of April 2014 to ... Read More »

Govt to publish MPs Tax directory soon: Dar

ISLAMABAD: Finance Minister Ishaq Dar said that the government, in principle, had decided to publish tax directory containing tax details of the Parliamentarians following severe criticism by the US and the UK. Replying to a question during a media briefing, the Finance Minister said that the present government had decided to be on high moral ground in response to the ... Read More »

Country’s exports reach $16b mark: Ishaq Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that Pakistan’s exports had reached $ 16 billion mark. While addressing a news conference in Islamabad, he said that it was due to prudent economic policies of the government that the export target is higher this fiscal year than before. Dar announced that Pakistan’s foreign exchange reserves have reached $ 11.67 billion. ... Read More »

19,000 litres of Irani petrol, diesel captured

KARACHI: The officials of Pakistan Coast Guards (PCG) and Pakistan Customs seized 19,000 litres of petrol and diesel in two separate raids from RCD Highway and Baba Island here. As per details, during a joint raid with Pakistan Customs, the PCG officials recovered about 15,000 litres of Irani petrol from a Hino Mazda truck on RCD Highway. Similarly in another ... Read More »

PRV Section of MCC Appraisement-West recovers Rs41m in Q3

KARACHI: The Post Release Verification (PRV) Section of Model Customs Collectorate of Appraisement-West under the dynamic leadership of Collector Muhammad Saleem has recovered an amount of Rs 41,384,870 by the end of third quarter during the current fiscal year i.e. the period from January to March, 2014. The PRV Section of MCC Appraisement-West has detected 44 cases of tax evasion ... Read More »

MCC Appraisement-West clears 5,520 imported vehicles in Q3

KARACHI: Model Customs Collectorate (MCC) of Appraisement-West has cleared 5,520 imported vehicles in the 3rd quarter of the current fiscal year i.e. the period from January to March, 2014, it is learnt here. Sources in MCC Appraisement-West informed Customs Today that the collectorate has collected total revenue of Rs 3,522.43 million on import of vehicles in share of customs duty, ... Read More »

FBR transfers Grade-21 officials of Pakistan Customs

KARACHI: Federal Board of Revenue (FBR) on Wednesday made very important transfers and postings of Grade-21 officials of Pakistan Customs. According to FBR notification, following Customs officers have been transferred: Ghulam Ahmad (PCS/BS-21) transferred from Member, Federal Board of Revenue (Headquarters), Islamabad and posted as DG, Directorate General of Training & Research (Customs), Karachi. Muhammad Nazim Saleem (PCS/BS-21) transferred from the ... Read More »

FBR holds workshop for taxpayers facilitation in Hyderabad

HYDERABAD: FBR has held an interactive workshop at a local hotel in Hyderabad to interact with the taxpayers regarding the roles and responsibilities of Withholding Agents and to explain the various e-services extended to them through FBR’s portal. RTO Hyderabad Commissioner Dr Tauqeer Ahmed opened the workshop by briefly introducing the format and series of presentations and the objectives of ... Read More »

Central region’s duty collection grows by 22pc in 9 months

LAHORE: Customs Central Region has collected a total customs duty of Rs 22,457 million during first nine months of the current fiscal year which is up by 22 per cent against Rs 18,369 million during the same period in the previous fiscal year. Customs Central Region consists of collectorates in Lahore, Multan and Faisalabad. Collectorate of Appraisement Lahore collected total ... Read More »

Pak-India customs officials meet

LAHORE: Top officials of Customs Collectorate of Preventive are attending three day Customs Liaison Board Committee meeting in India. Sources said that the meeting is being held from April 16 to 18 in which customs authorities of both sides will discuss bilateral issues pertaining to trade, commerce and smuggling. MCC Lahore Collector Fazal Khan Yazdani, Additional Collector Mubashar Baig, Additional ... Read More »

Chief Commissioners moot: Top brass dissatisfied with RTOs, LTUs’ performance

ISLAMABAD: The Federal Board of Revenue is dissatisfied with the performance of Chief Commissioners of Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) in the collection of revenue through budgetary measures introduced in Finance Act, 2013. As per details, the FBR top brass has conveyed its concerns to the Chief Commissioners at a conference held at FBR House. The ... Read More »

Netting retail sector: FBR terms taskforce proposals unviable

ISLAMABAD: The Federal Board of Revenue has rejected the proposals put forward by a taskforce set up under the supervision of FBR Member HRM to bring retail sector into the tax net. The taskforce has submitted proposals to FBR Chairman Tariq Bajwa for bringing retail sector into the tax net. As per details, the proposals have been rejected on ground ... Read More »

Textile exporters seek rebate over rupee appreciation

KARACHI: All Pakistan Textile Mills Association (APTMA) has urged the government to pay 10 per cent rebate to textile exporters to shield themselves from the inventory losses they have incurred due to the fast appreciation of the Pakistani rupee against the US dollar. “We want the government to tell us where exactly the rupee is going to stabilise against the dollar,” ... Read More »

Dastgir meets crown prince of Saudi Arabia

LAHORE: The visiting Commerce Minister of Pakistan Khurram Dastgir called on the Crown Prince of Kingdom of Saudi Arabia, Prince Salman bin Abdul Aziz Al Saud in Riyadh on Wednesday. The two leaders expressed satisfaction at the burgeoning cooperation between the two brotherly countries. According to a message received here from Riyadh (Saudi Arabia), the Crown Prince fondly recalled his ... Read More »

Directory reveals tax paid by top finance officials

ISLAMABAD: The tax directory of 791,621 income tax return filers has been published by FBR, which has already unveiled the tax directory of parliamentarians. It has also revealed the amount of income tax paid by important officials. According to the tax directory, for the fiscal year ending June 30, 2013, Federal Board of Revenue Chairman Tariq Bajwa paid Rs 183,734 ... Read More »

Letter written to Customs: PIFFA bemoans curb on off-dock buyers’ consolidation services

KARACHI: The Pakistan International Freight Forwarders Association (PIFFA) has expressed concern over the restriction imposed on the off-dock buyers’ consolidation services, performed by freight forwarders, fearing it will drastically affect export orders from global brand customers. In a letter written to the Customs authorities, the PIFFA pointed that its members performed Less Containers Load (LCL) consolidation and ‘buyers consolidation services’, ... Read More »

Appreciating rupee: Govt must cut down petrol, electricity prices by 13pc

KARACHI: The Pakistani rupee hit 18-month high on Tuesday against the dollar, trading below the 96-to-a-dollar level. Dollar further plunged to Rs95.70 in interbank during the day, witnessing Rs.50 decease. Foreign currency dealers said that the rupee maintained its upward journey for the second consecutive day both in the interbank and open market. Last time rupee underwent such a drastic appreciation ... Read More »

FBR announces transfers of Grade-20,19 officers

ISLAMABAD: Federal Board of Revenue has announced transfers and postings of senior officers of Pakistan Customs Service including two Grade-20 and one Grade-19 officers. A notification has been issued in this regard which states: Ziauddin Wazir of Pakistan Customs Service (BS-20) has been transferred from the post of Director, Directorate of Transit Trade, Peshawar to the post of Collector, Model ... Read More »