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LCCI backs Commission’s findings on black money

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) has supported the findings of a Commission on black economy in Pakistan and urged an early implementation of the recommendations. Commenting on report, LCCI President Sohail Lashari said the Commission had rightly identified the sources of black economy within the tax regime that were incurring a loss to the tune of more ... Read More »

Indian Customs officials recover over 4kg gold

NEW DELHI: Customs officials have seized gold weighing 4.3kg and valued at over Rs10m being smuggled into the country and took into custody nine persons at two airports. Around 3.5 kg of gold bars was seized from eight passengers who arrived from Singapore in Thiruvananthapuram airport while Customs officials at Chennai airport recovered 800 grams gold biscuits from a Sri ... Read More »

Abu Dhabi Customs seizes crystal meth from ‘visibly anxious’ traveller

ABU DHABI: Customs officers have seized more than 2.2 kilograms of crystal methamphetamine, and hashish and tramadol, in two incidents at Abu Dhabi International Airport. The methamphetamine was recently found by an officer who searched a visibly anxious man travelling from an Asian country. Bags of the white substance, weighing 2.24kg, were found in the frames of his bag. In ... Read More »

Malaysian Customs Department seizes 22 luxury cars

KUALA LUMPUR: The authorities are not impressed with a group of owners of luxury sports cars like Ferrari and Lamborghini, found to have evaded Customs duties amounting to RM17m ($5.39m). A total of 22 such cars, valued at RM25.8m, were confiscated by the Customs Department this month after officers found that the owners had breached Clause 21A of the Customs ... Read More »

FBR extends date of filing of IT returns/statements up to Nov 30

ISLAMABAD: Federal Board of Revenue (FBR) has extended the date of filing of Income Tax Returns/Statements for the Tax Year 2013 to November 30, using powers conferred under section 214A of the Income lax Ordinance, 2001. According to the notification, the date of filing of Returns of Total Income/Statements of Final Taxation of companies whose tax year ends any time ... Read More »

Commission wants increase in DGTT’s powers

KARACHI: The Commission on ‘smuggling of arms and ammunition’ has advised to enhance powers and functions of the Directorate General of Transit Trade (DGTT) of Federal Board of Revenue (FBR) to check missing of transit consignments destined for Afghanistan. Sources said that former FBR Member Customs Ramzan Bhatti has chalked out a comprehensive strategy to improve functions of the Directorate ... Read More »

New customs values for cosmetics, toiletries soon

KARACHI: The Customs Valuation Department has decided to issue new Valuation Ruling (VR) of cosmetics and toiletries including perfumes, body sprays, deodorants etc and to withdraw the fresh Valuation Rulings No.588, 589 and 590. According to the details, the Customs Valuation Department on September 30 had issued Valuation Rulings according to the Article 25-A of the Customs Act, 1969 of ... Read More »

Customs officials foil bid to smuggle 370g heroin to Birmingham

LAHORE: Pakistan Customs’ anti-smuggling unit at the Allama Iqbal International Airport has foiled a bid to smuggle 370g heroin to Birmingham. As per details, Sky Net courier service found a suspicious parcel of ten chess boards for Birmingham, UK and informed the Customs authorities. The Customs officials immediately reached the spot and seized 370 gram heroin stuffed in 10 chess ... Read More »

No new customs duty on motorcycle industry

ISLAMABAD: Federal Board of Revenue (FBR) has given duty concessions to the manufacturers of motorcycles by issuing SRO.939(I)/2013 and SRO.940(I)2013. The FBR will not charge the additional customs-duty on sub-components and components, imported in any kit form by a new entrant assembler or manufacturer of motorcycles in Pakistan. Through these notifications, FBR has amended SRO 656(1)/2006, dated June 22, 2006 ... Read More »

FIA loath to exclude Customs officials’ names from FIR

KARACHI: Federal Investigation Agency (FIA) is not showing its willingness to withdraw the names of Customs officials from the FIR, registered for misusing passport of a passenger for importing a vehicle. Earlier, the Customs Department in a letter to FBR requested the board to persuade FIA authorities to withdraw the names of Customs officials. According to the letter, the department ... Read More »

Pakistan Customs holds 2 auctions of different items on Oct 23, 25

KARACHI: Pakistan Customs is going to hold two auctions of different items on Oct, 23 and Oct 25 (Friday) at East Wharf and Pak Shaheen respectively. The first auction at East Wharf contains different commodities including vehicles, chemicals, tyres, melting machines/compounds, brakes, scrape and other items. The bidders are requested to deposit 25 per cent of the total auction bid ... Read More »

Vietnam Customs officials seize ivory hidden in sea-shell crates

HANOI: Customs officials in Vietnam’s northern province of Hai Phong seized ivory tusks weighing over 2 tons concealed inside a container imported from Malaysia in the second case of its kind this month, state media reports. The containers, which claimed to contain seashells, were found to contain 2.4 tons of elephant tusks, state-run newspaper Tuoi Tre reported, quoting Customs officials. ... Read More »

Venezuela downs drug-smuggling planes

CARACAS: The Venezuelan military has downed two drug-smuggling aircraft, the head of the armed forces strategic operational command has said. Both of the aircraft that were shot down had taken off from Central America, “apparently coming from Guatemala”, General Vladimir Padrino told the state television. “The first neutralisation, according to the terminology established by law, occurred on day 19 (of ... Read More »

Zimbabwe arrests Chinese man over ivory smuggling

HARARE: A Chinese man was arrested at Zimbabwe’s main airport trying to smuggle ivory out of the country, wildlife authorities said, after reports of hundreds of elephants being poisoned. The 34-year-old man was trying to board a flight to Malaysia carrying raw ivory and chopsticks and jewellery worth around $28,250, parks and wildlife authority spokeswoman Caroline Washaya-Moyo said. “An Asian ... Read More »

Belarus urges Armenia to cooperate with Customs Union

MINSK: Andrey Smirnov, Vice President of the Eurasian Cooperation Development Foundation, said that Belarusian President Alexander Lukashenko’s statement that Armenia could not join the Customs Union in the near future had been made to encourage Armenia to adopt technical regulations and legislative amendments. Smirnov explained that the Customs Union had a large volume of materials and standards Armenia needed to ... Read More »

Jamaica Customs seizes 80,575 sticks of illegal cigarettes

KINGSTON, Jamaica: A four-day operation dubbed ‘Stir It Up’ by the Jamaica Customs Agency (JCA)in collaboration with the Jamaica Constabulary Force (JCF) saw the seizure of 80,575 sticks of illicit cigarettes valued at J$2.4 million. The operation targeted approximately 20 business establishments across the parishes of St Ann, St James and Westmoreland. In St Ann on the first day of ... Read More »

FBR constitutes team to enhance monitoring of BTB activities

ISLAMABAD: FBR has constituted a five-member team to enhance coordination and monitoring of broadening of tax base (BTB) activities. Dr. Muhammad Iqbal, PA to FBR Chairman, will be team leader while four other members include Malik Amjad Zubair Tiwana Chief (Income Tax Policy), Imran Latif Minhas Secretary (Withholding Tax) FBR, Muhammad Khalid Jamil Secretary (Exemptions/Rules) FBR and Ijlal Khan Deputy ... Read More »

Dubai Customs sees smart service users expanding

DUBAI: Customs expects the number of users of its smart services launched early this month to grow very rapidly in the future. New customers are relying on mobile devices to obtain customs services and achieve the best possible results in their businesses and investments. The smart services help users save time, effort, and costs, and yield much higher revenues. A ... Read More »

Belgian Ambassador calls on Kamran Michael

ISLAMABAD: Ambassador of Belgium in Pakistan Peter Claes called on Federal Minister for Ports and Shipping Kamran Michael on Tuesday. The Ambassador said their government will help the Ministry of Ports and Shipping to set up an international standard facility for fish packing and storage at Gwadar port. The Ambassador offered scholarships for Pakistani marine officers to give them training ... Read More »

FBR asked to issue SRO on duty incentives to new entrants in motorcycle industry

ISLAMABAD: The Ministry of Industries and Production issued a reminder notice to the Federal Board of Revenue (FBR) to issue an SRO providing duty incentives to new entrants in motorcycle industry. Sources said as soon as the SRO is issued by FBR an agreement with Yamaha Motorcycle would be signed paving way for $150 million investment. The Economic Co-ordination Committee ... Read More »