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Tag Archives: Customs Appeals

FBR raises large taxpayer unit’s target by 30pc

LAHORE: The Large Taxpayer Unit (LTU) of the Federal Board of Revenue (FBR) has been assigned 30 percent more revenue target for September this year than the last year’s collections of Rs 15.03 billion during the same period. Sources told Customs today that the FBR has assigned Rs 19.497 billion tax collection target to LTU for September this year, which ... Read More »

FBR to devolve powers to act against ‘black sheep’

ISLAMABAD: The Board in Council of the Federal Board of Revenue (FBR), on suggestion of Member Customs Nisar Muhammad Khan, has decided to give authority of institutional punitive measures to field formations, chief collectors and chief commissioners. After the said decision, heads of the field formations will be authorised to take action against corrupt officers on mismanagement and corruption. The ... Read More »

Bajwa directs tax officers to recover Rs 70 billion from SM Foods

MULTAN: The Federal Board of Revenue Chairman Tariq Bajwa has directed the subordinates to present the comprehensive report on Rs 70 billion tax evasion by a famous businessman of Multan City. As per details, FBR chairman asked regional tax officers of Multan to recover Rs 70 billion rupees tax from a businessman evaded in last two years. The accused Saim ... Read More »

FBR officials arrest factory owner for evading Rs 280 million tax

LAHORE: Federal Board of Revenue Lahore Deputy Commissioner Inland Revenue Raza Ashfaq Sheikh has arrested a factory owner for allegedly evading Rs 280 million tax. As per details, the deputy commissioner raided a house in Shahdman, Lahore, and arrested Nasir Tariq Butt, owner of Munir Foundry situated on Shiekhpura Road. Butt had not been paying his tax dues since 2009. ... Read More »

Member Admin Shahid Jatoi takes action against corrupt officers

ISLAMABAD: Federal Board of Revenue (FBR) Member Admin Shahid Hussain Jatoi has learnt that most of his instructions regarding corrupt officers were being ignored by lower management staff. As per details, Jatoi has sought the records of personal hearings against corrupt officers, from his appointment to date, on reports of mismanagement in these cases. It is learnt that the Member ... Read More »

PRA seeks audited copy of accounts from taxpayers

LAHORE: The Punjab Revenue Authority (PRA) has asked the registered persons and businesses in corporate sector to submit a copy of annual audited accounts along with tax payments’ propriety certificate from auditors. The authority said that the main provisions relating to maintenance and production of records for the purpose of Punjab sales tax are available under sections 31 and 32 ... Read More »

India to frame law to protect Pakistani investors

ISLAMABAD: The Ministry of Commerce, in a report, sent to the government stated that the Indian Parliament is planning legislation to provide financial and non-financial protection to those Pakistani investors who are interested to invest in India. “Therefore, Pakistani government must also take such an initiative to attract more investment from foreign investors and legislate to protect the foreign investors,” ... Read More »

FBR asked to implement employees union’s demands

LAHORE: The Federal Revenue Alliance Employees Union has asked the Federal Board of Revenue (FBR) to implement long delayed charter of demands of the union immediately, in a monthly meeting here the other day. Federal Revenue Alliance Employees Union President, Syed Naeem Abbas Shah preside the meeting at the FBR Lahore office. The general secretary of the union, Shahzad Butt told ... Read More »

FBR Chairman Bajwa chairs board-in-council meeting today

ISLAMABAD: The Federal Board of Revenue (FBR) has changed the time for board-in-council meeting to 2:30pm which was scheduled at 11am on Wednesday. As per details, FBR Chairman Tariq Bajwa will preside the meeting in which policy decisions about audit policy will be taken. FBR Member Inland Revenue Policy Shahid Asad, Member Inland Revenue Muhammad Ashraf Khan, Member Admin Shahid Hussain Jatoi, ... Read More »

ANF seizes tons of contrabands in Khyber Pakhtunkhwa

ISLAMABAD: The Regional Directorate Anti-narcotics Force (ANF) Khyber Pakhtunkhwa recovered smuggled drugs worth billions of rupees in August, which were several times more than the quantity of drugs recovered during July. According to the available data, the ANF seized 27.6kg heroin, 460kg hashish, 50,400kg sulfuric acid and 2.5kg amphetamine in August. Statistics revealed that ANF arrested 20 accused for their alleged involvement ... Read More »

FBR Member Ashraf Khan tells officers to achieve targets

ISLAMABAD: The Federal Board of Revenue has decided to transfer those field formation officers who will not show better performance till first quarter (October) of this fiscal year. As per details, FBR Member Inland Revenue Muhammad Ashraf Khan gave field formation officers two month respite to achieve their individual targets and warned them of transfer on showing inefficiency in their ... Read More »

UK funds FBR for tax awareness campaigns

ISLAMABAD: British Department for International Development will donate Rs 5 million to Federal Board of Revenue (FBR) which will be spent on awareness campaigns urging people to pay tax. As per details, a delegation of DFID has met with FBR Chairman Tariq Bajwa and offered him Rs 5 million funds for the campaigns to educate public about the importance of ... Read More »

TDAP to organize ‘Alishan Pakistan’ exhibition in New Delhi

ISLAMABAD: Despite strong opposition by an Indian Hindu fundamentalist organisation, preparations are in full swing to make the upcoming event ‘Aalishan Pakistan’ lifestyle exhibition in New Delhi a big success. The event is being organised by Trade Development Authority of Pakistan (TDAP). The Hindu Janajagruti Samiti (HJS), working for establishment of Hindu society, has demanded the Indian government stop the ... Read More »

Islamabad Dry Port collects Rs 140 million customs duty in August

ISLAMABAD: The Islamabad Dry Port collected Rs 140 million revenue in August despite the fact that the Federal Board of Revenue (FBR) has not yet assigned any target for this fiscal year to the port authority. However, the dry port collected Rs 136 million in customs duty in August amid the slowdown in economic activities. The port had collected Rs ... Read More »

Bajwa lauds Virk for detecting TCS, Telenor cases

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa visited Directorate General of Customs Intelligence and Investigation on Friday. Director General I&I Lutfullah Virk briefed the chairman on the performance of the department during the chairman’s first visit to directorate general after the appointment of Lutfullah as DG I&I. The FBR chairman lauded the efforts of DG I&I Lutfullah on his ... Read More »

FBR sets Rs 252 billion revenue target for September

ISLAMABAD: The Federal Board of Revenue (FBR) has set an ambitious target of Rs 252 billion for September, sources said. According to official sources, the tax collection target for the first quarter (July and September) of the ongoing fiscal year is Rs 569 billion. Sources said that the FBR has achieved the tax collection targets of the first two months, ... Read More »

Political crisis amid inflation

The warning bells are ringing from all sides amid political crisis in Islamabad. The whole world is watching developments in Pakistan and friendly countries like China and the United States are looking the events with concern. The Indian prime minister, who is spitting venom against Pakistan since his Bharatiya Janata Party has come to power,is also worried about the situation ... Read More »

1 bench of Karachi Customs Appellate Tribunal not functional

KARACHI: One of the three benches of the Karachi Customs Appellate Tribunal have not been functional since 2012, it is learnt. The tribunal, which serves as a forum to settle revenue-related disputes of appraisement, was established in 1985 under Section 194 to ease burden on Sindh High Court. Three such tribunals were established, one each in Karachi, Lahore and Islamabad. ... Read More »

Customs serves recovery notices on 55 steal millers

SIALKOT: The Regional Tax Directorate in Gujranwala has issued tax recovery notices to 55 steal millers. The directorate has also collected Rs 500 million taxes in Gujranwala division despite the civil disobedience call given by the Pakistan Tehreek-e-Insaf Chairman Imran Khan. According to a senior official, the Federal Board of Revenue (FBR) has set another target of Rs 250 million ... Read More »

FIA to produce arms smuggler in court on Thursday

KARACHI: Sofia Latif, a customs, taxation and anti-smuggling judge, has remanded an accused to the FIA’s custody after arms and ammunition were seized from his personal baggage at the Jinnah International Airport. Mumtazuddin, the accused, will be produced before the judge on Thursday. Sources informed Customs Today that customs has recovered 25 parts of pistol and 97 magazines from the ... Read More »