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Tag Archives: Collectorate of Appraisement-West

Gujranwala Excise collects Rs1b in 7 years

SIALKOT: The Excise & Taxation department has collected Rs1 billion in categories of registration and lifetime token tax fee on motorcycles as 1.45 million motorcycles worth of Rs20.5 billion were sold during last seven years in Gujranwala region. According to the excise officials, the major reason behind the growing number of purchase of motorcycles was unaffordable fares of public transport ... Read More »

Azadi march likely to affect talks with IMF

ISLAMABAD: The current political turmoil can affect talks between Pakistan and IMF authorities scheduled for August 6 to 18th, as Pakistan has entered into fourth review of the $6.8 billion programme with the International Monetary Fund. Sources in the Finance Ministry privy to Customs Today that the political episode created by Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek may endanger the ... Read More »

TCS smuggling hearing adjourned till Aug 21

ISLAMABAD: Hearing of the TCS and Smart Zone Company smuggling case has been put off again until August 21 due to unavailability of Customs Judge Muhammad Ahmad Farooqi. Former TCS CEO Saqib Hamdani and Manager Logistics Ghazanfar Gul turned up in the court. Both the accused have submitted application for the confirmation of bail before arrest granted by the court. ... Read More »

Appraisement-East registers FIR against Cosmos Enterprises

KARACHI: The Research and Development (R&D) Section of Model Customs Collectorate (MCC) of Appraisement-East has registered an FIR against Cosmos Enterprises in its alleged involvement in tax evasion by clearing two consignments of miscellaneous goods from warehouse without paying the legitimate duty/taxes. The FBR sources informed Customs Today that the R&D Section of MCC Appraisement-East has nominated Abdullah, a clearing ... Read More »

Auditor General Pakistan starts expenditure audit of MCC Lahore

LAHORE: Auditor General of Pakistan (AGP) has started annual audit of expenditure of Model Customs Collectorate (MCC) Lahore. The AGP officials will conduct audit of expenditures of the MCC Lahore funds including petrol, maintenance of the vehicles expenditure, expenditures of the building, newspaper receipts, gas, electricity and waters bill. The audit officers of AGP office will complete audit report of ... Read More »

Hyderabad Customs collects Rs 382.51m in July

KARACHI: The Model Customs of Collectorate (MCC) Hyderabad has collected an amount of Rs 382.51million in the month of July-2014 in share of Customs Duty (CD), Sales Tax, Federal Excise Duty (FED) and Withholding tax. According to details, the Hyderabad Collectorate has collected an amount of Rs 64.81 million in share of Customs Duty with the decrease of 56 per ... Read More »

MCC Export skips revenue target in July

KARACHI: The Model Customs Collectorate (MCC) of Export has failed to collect desirable revenue in July, first month of current fiscal year 2014-15. The FBR sources informed Customs Today that the MCC Exports had also missed revenue targets during the last fiscal year 2013-14 and now after claiming new efforts it missed the first month target of current fiscal year. ... Read More »

Govt to revise tax structure, investment policy

ISLAMABAD: After lots of complaints from business community and investors the Government has finally decided to revise existing complex tax structure with aiming to simplify and rationalize the tariff structure to facilitate traders and business community. The measures would have also been taken to revise investment policy to attract Foreign Direct Investment (FDI) in the country. According to well placed ... Read More »

Customs high-ups alleged of nepotism in incentive distribution

KARACHI: The Pakistan Customs officials below Grade-16 have asked Federal Board of Revenue to take action on possible nepotism in distribution of incentive among officials. They blamed that some officers were given favoritism out of the way by some high-ups. Expressing their deep concerns over the distribution of rewards/incentives among the officials of Pakistan Customs, they alleged that the rewards ... Read More »

FBR asks customs officers to declare assets

Multan: The Federal Board of Revenue (FBR) has directed Inland Revenue officers and Customs officers to declare their assets details before August 15. As per details, FBR issued a notification to all regional tax offices and custom offices on July 24 to declare their assets before July 30 but due to Eid ul Fitr holidays the date extended further to ... Read More »

Customs Lower Employees Association demands free medical services

KARACHI: The Pakistan Customs Lower Employees Association has demanded Federal Board of Revenue (FBR) to establish its own hospital for ensuring the best medical facilities for the Class-IV employees. The Pakistan Customs Lower Employees Association President Misal Khan Bangash made this demand while talking to Customs Today at his office. While expressing his reservations, Bangash said that the employees of ... Read More »

Buoyant Cruise: All set for Karachi-Dubai Speedy Boat Service

ISLAMABAD: The preparations have been completed for launching speedy boat service between Karachi and Dubai to increase Pakistani exports. The main objective of speedy boat service was to export perishable edible items, fruits, vegetables, meat and others to Dubai on cheaper rates, almost half than air service. A speedy boat equipped with air conditioned container will cruise at the speed ... Read More »

Fisheries export up 15.68% to US$3.67m during FY 2013-14

ISLAMABAD: The Fish and fishery products saw an increase of 15.68% during last FY2013-14 which was 12.25 % higher than the FY2012-13. This record increase in export of fish and fishery products from Pakistan had made export earnings of US$ 367.472 million which were above the target of US$340.00 million fixed by Marine Fisheries Department. According to Ministry of Ports ... Read More »

IOCO issues 50 provisional certificates to importers

KARACHI: The Input-Output Co-efficient Organization (IOCO) has issued around 50 provisional certificates during a month, in which it allows the local importers to import raw material for manufacturing the products of local industries under concessionary regime with relaxation in customs duty related to the SRO 565(I)/2014. A FBR sources informed Customs Today that the list of the importers has yet ... Read More »

Minhajul Quran petition against FBR notices disposed of by LHC

LAHORE: The Lahore High Court has disposed of a petition filed by Minhajul Quran challenging the audit notice by the Federal Board of Revenue (FBR). The single bench comprising Justice Abid Aziz Sheikh was hearing the matter. Earlier, the petitioner submitted to court that Minhajul Quran was a welfare organization therefore has exemption from tax. He was of the view ... Read More »

Customs officers demand FBR to organize training sessions

KARACHI: The officers of Pakistan Customs demanded Federal Board of Revenue (FBR) to organize effective training courses, programmes and seminars for Customs officers. They were of the view that the working of Pakistan Customs has been affecting due to the absence of latest and contemporary techniques in the several departments. One of the senior officers of Pakistan Customs informed Customs ... Read More »

Karachi Customs Collectorates collect Rs 49.5 billion revenue in July

KARACHI: The Model Customs Collectorates (MCCs) of Appraisement-East, West and Port Qasim have collected Rs 49.5 billion revenue in first month of current fiscal year. As per details, the Model Customs Collectorate (MCC) of Appraisement-East has collected total revenue of Rs 13457 million in the first month of FY2014-15 in share of customs duty, sales tax, income tax and federal ... Read More »

ICCI urges govt to improve tax structure

ISLAMABAD: Islamabad Chamber of Commerce & Industry (ICCI) has demanded the government to improve tax structure for developing business and investment. The acting President, Islamabad Chamber of Commerce & Industry Muhammad Ali Mirza said that the existing tax structure discourages investment and encourages rent seeking. “A better tax system would help to improve economic growth of the country, but unfortunately, ... Read More »

Dastgir briefs Parliament on trade ties with India

ISLAMABAD: Minister for Commerce Engineer Khurram Dastgir Khan told the Lower House of the Parliament that the government has been addressing the reservations and concerns of business sector regarding granting the most favorite nation (MFN) statute to India. “Overall normalization of trade ties with India will be in favor of Pakistan both in short term and long term basis” he ... Read More »

Discount facility ended on car token tax

Multan: The discount facility on the token tax of motor cars by Excise and Taxation Department has ended during Eid holidays and now motor car owners have to pay double fee of token tax as fine. The token tax of motor vehicles has been an important source of levy collection for Tax and Excise Department. It brings considerable revenue and ... Read More »