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Tag Archives: Custom

TCS, Smart Zone smuggling scandal: DG I&I pressurized to stay away from case

ISLAMABAD: Director General Customs Intelligence and Investigation (I&I) Lutfullah Virk has ordered Deputy Director Customs Shahid Jan to take strict action as per law against TCS and Smart Zone Company for their alleged involvement in smuggling. As per details, owners of TCS and Smart Zone companies had tried to put pressure on DG I&I through different means but he rejected any ... Read More »

Mobilink served show cause notice for tax evasion

KARACHI: The Collectorate of Customs Adjudication-I has served show cause notice to M/s Pakistan Mobile Communication Limited (Mobilink) for its alleged involvement in mis-declaration and huge evasion of customs duty and other taxes. The company evaded about Rs 6.99 million in share of customs duty, sales tax, additional sales tax, regulatory duty and withholding tax. According to details, the Model ... Read More »

FBR withdrawal of duty on steel sheet plunges fans’ price

PESHAWAR: The prices of electric homemade room coolers and fans in Peshawar dropped after Federal Board of Revenue (FBR) has withdrawn 10 percent Customs duty on the import of electrical silicon steel sheet. Afghan refugees who were residing in Peshawar Khyber Pakhtun-khwa have also developed their local industry of electric rooms coolers which were widely popular on low rates as ... Read More »

Dubai to observe Global Trade Development week from Oct 27-29

DUBAI: Dubai Customs has announced a partnership with Global Trade week 2014 under the patronage of Sultan bin Saeed Al Mansouri and UAE Ministry of Economy where business and government leaders from over 80 countries will gather for mutual cooperation. Global Trade Development Week is the world’s largest trade facilitation, development and investment programme of events. This year’s event will ... Read More »

Gujranwala region: FBR to bring 10,000 evaders under tax net

SIALKOT: Federal Board of Revenue (FBR) has decided to bring about 10,000 small traders and businessmen under the tax net and to collect tax from 85000 inactive NTN holders in Gujranwala region. As per details, the FBR has formulated six special teams for each of the six districts, Sialkot, Narowal, Gujrat, Mandi Bahaud Din, Hafizabad and Gujranwala which were going ... Read More »

Comparing cost of renting a house in DHA, Karachi and Lahore

LAHORE (AZKA NAEEM): Defence Housing Authority (DHA) has been the top investment choice among known property investors of Karachi and Lahore. Overseas Pakistanis consider DHA a prime investment option because of hassle-free property transfer mechanism and investment security offered by Defence Housing Authority. When it comes to comparing return on property investments made in different localities of Karachi and Lahore, ... Read More »

Hyderabad Customs reluctant to fill vacant seats

HYDERABAD: Hyderabad Customs has failed to appoint new officers on many vacant seats tax officers even after passing 40 days. Also new appointed officers have yet not assigned duties and they are confused about their authority. On the other hand, taxpayers were also facing difficulties regarding submission of their tax returns and other tax related operations because the shortage of ... Read More »

Ovaltine customs values reduced by 15pc

KARACHI: The Directorate General of Customs Valuation has re-determined the customs values of Ovaltine by revising downward up to 15 pc due to price differentiation in different kinds of packing. As per new values, Ovaltine in glass bottle will be assessed at $1.87 per kg; drinking powder Ovaltine in plastic bottles at $1.68 per kg; Ovaltine in plastic bags at ... Read More »

FBR exceeds revenue target by Rs 1 billion in July

ISLAMABAD: The committed work of field formation officers under new acting Chairman helped the Federal Board of Revenue (FBR) in exceeding the revenue collection target in July 2014 by one billion rupees as it collected Rs 138 billion during the month of July against Rs 137 billion target. Acting Chairman of FBR Shahid Hussain Asad while talking to Customs Today ... Read More »

FBR acting Chairman to visit Karachi Customs House next week

KARACHI: The Federal Board of Revenue acting Chairman Shahid Hussain Asad is likely to visit Karachi Customs House next week. The FBR sources confirmed Customs Today that the acting chairman Shahid Asad would expected to visit customs house next week where he will hold meetings with the Customs officers. It further informed this scribe that the agenda of the meeting ... Read More »

Job undone: Dar to face IMF next week

ISLAMABAD: Pakistan’s economic team lead by Finance Minister Ishaq Dar is likely to face criticism by International Monetary Fund (IMF) in Dubai next week on its failure to broaden the tax base in last fiscal year. A source from FBR told Customs Today that the talks with the IMF going to begin next week in Dubai and economic team may ... Read More »

Govt to re-shuffle FBR’s top officials

KARACHI: The federal government has been mulling over to reshuffle the top bureaucracy of Pakistan Customs, Inland Revenue Services (IRS), Regional Tax Offices (RTOs) and Directorate General of Customs Intelligence and Investigation. A source told Customs Today that the changes would be on cards at chief collector, collector and commissioner and director level. He said that the federal government was ... Read More »

Customs seeks court to summon Royal Packages

KARACHI: Model Customs Collectorate of Appraisement-East has requested the Sindh High Court (SHC) to summon M/s Royal Packages (Pvt) Limited for hearing in August. It is pertinent to mention here that the M/s Royal Packages has moved court against the charges of tax evasion in terms of customs duty, sales tax and income tax through claiming of inadmissible benefit of ... Read More »

Tracking system helped curb pilferage of ATT cargoes

KARACHI: The installation of tracking system on cargos of Afghan Transit Trade (ATT) has helped tremendously to eliminate the incidents of pilferage or missing of containers. According to an official report, more than 45,000 containers were tracked through the installation of security instruments, such as container security device (CSD) and Prime Mover Device (fixed on truck and inter-linked with CSD). ... Read More »

Dubai customs gears up for Umrah returnees at DIA

DUBAI: The Dubai Customs has completed arrangements at the Dubai International Airport (DIA) for the arrival of the UAE residents who were returning from Saudi Arabia after performing Umrah during the last 10 days of holy month of Ramadan. The Dubai Customs commenced a series of actions to ease the entry of travelers to the DIA’s three terminals and Al ... Read More »

MCC Sialkot’s efforts increase exports 17.1%: Qurban Ali

SIALKOT: Collector of Customs Sialkot Qurban Ali Khan while talking to Customs Today said that exports from Sialkot region has increased about 17.1 percent during FY 2013-14 due to provision of advance facilities and rapid clearance of consignments by Model Customs Collectorate. He said that volume of exports from Sialkot Dry Port Trust (SDPT) and Sialkot International Airport has increased ... Read More »

Senate seeks FIA to report on tax evasion in oil import

ISLAMABAD:Senate Standing Committee on Planning and Development has asked Director General Federal Investigation Agency to submit a report on adulterated oil import and tax evasion during those imports. Federal Investigation Authority (FIA) likely to be given charge of examination of adulterated oil and of investigations in possible tax evasion by oil importers. As per details, Director General FIA would brief ... Read More »

FBR, PTA to keep record of imported mobiles

ISLAMABAD: Federal Board of Revenue has decided to take necessary steps as per the instructions of honourable Supreme Court in its verdict about illegal import of mobile phones and their use in terrorism activities. As per details, FBR with collaboration of Pakistan Tele-communication Authority (PTA) has decided start to maintain a record of every single mobile phone imported to Pakistan. ... Read More »

Committee formed to probe allegations against appraising officer

KARACHI: The Appraising Officials Association of Pakistan Customs in its meeting at customs house has decided to form a committee in order to probe the real aspects behind registering an FIR against an appraising officer by the Directorate General of Customs Intelligence and Investigation I&I. According to details, a committee comprising Shaheen Farooqui, Javed Akhtar, Mir Mansoor, Dost Muhammad and ... Read More »

Customs seizes 39 tons of iron sheets worth Rs5m

LAHORE: Customs anti-smuggling unit seized 39 tons of iron sheets worth Rs 5 million in a raid near Multan Road. A Source informed Customs Today that the iron sheet was being sold in local market when anti-smuggling unit caught the culprits as iron sheet were smuggled without paying Rs 3 million duty. Moreover, he added that iron sheets were coming ... Read More »