Sunday , January 19 2020
Breaking News
Home / Tag Archives: Customs duty (page 22)

Tag Archives: Customs duty

4 declared proclaimed offenders for misappropriation in duty

LAHORE: Special Judge of Customs has declared four accused of misappropriation in customs duty as proclaimed offenders. The Special Judge of Customs at the Federal Court has declared Nayyar Dogar, Shahid Bhatti, Khayrat Ali and Shahid Shahbaz proclaimed offenders for not attending the court for the last many months. They are allegedly involved in smuggling of betel leaves from India ... Read More »

Shahid Asad reveals revenue collection up to mid March

ISLAMABAD: Federal Board of Revenue has collected over Rs 1,440 billion tax during the current fiscal year up to middle of the current month, which is 17 percent higher than Rs 1,239 billion collected in the corresponding period of the previous fiscal year. FBR Spokesperson Shahid Hussain Asad, while giving breakup of tax collected up to March 15 under various ... Read More »

Tyre importers, dealers propose reduction in duty

KARACHI: Pakistan tyres importers and dealers association (PTIDA), in its proposals for the upcoming budget presented to Federal Finance Minister Ishaq Dar, has suggested the reduction of customs duty on import of tyres. In its suggestions PTIDA has asked for bringing down the existing duty rates of passenger car tyres from 25 per cent to 5 per cent; from 20 ... Read More »

Customs values of computer leads, networking cables issued

KARACHI: The Customs values of computer leads and networking cables have been determined by the Directorate General of Customs Valuation Department through Valuation Ruling No 643/2014 under Section 25-A of the Customs Act, 1969. According to details, the customs value of computer leads from China having Pakistan Customs Tariff (PCT) code 8544.4210 and proposed PCT code for WeBOC 8544.4210.1000 has ... Read More »

Importers, customs agents served notices over under-invoicing

KARACHI: Under-invoicing by importers and customs agents has been detected on import of used cars which are older than three years. This has been revealed by the recovery department of Model Customs Collectorate of Appraisement-West during the audit of clearance documents of used imported cars which are more than three years old. The department has issued demand notices to the ... Read More »

10 pc customs duties on import of Indian yarn demanded

LAHORE: Pakistan Cotton Ginners Association (PCGA) Vice Chairman Asim Saeed Sheikh has expressed concerns over Indian yarn’s import and urged the government to impose 10 per cent duty on it to keep local yarn competitive. He was talking to newsmen in Multan. He said that total import of Indian yarn last year was calculated at 1,149,903 kilogram, however, this year ... Read More »

Customs values of Industrial roller chains, sodium lauryl ether sulphate issued

KARACHI: Directorate General of Customs Valuation has determined the customs values of Industrial roller chains and Sodium Lauryl Ether Sulphate first time ever, through the Valuation Rulings No. 641/2014 and 642/2014 respectively under Section 25-A of the Customs Act, 1969. Customs value of Industrial roller chains from China having Pakistan Customs Tariff (PCT) code 7315.1190 and proposed PCT code for ... Read More »

Reduction in duties conditional for India to access Pak markets: Dastgir

ISLAMABAD: Federal Minister for Commerce Khurram Dastgir has said that India cannot be considered for Most Favoured Nation (MFN) status until it reduces tax rate on Pakistani textile products as agreed. In an interview Dastgir has said that the recommendations to grant MFN status to India have been replaced by Non-Discriminatory Market Access (NDMA) status adding that it will only ... Read More »

Valuation Ruling for food supplement issued

KARACHI: Directorate General of Customs Valuation has determined the customs values of food supplements (drinking powder Milo, Nesquick, Bournevita, Ovaltine, Complan and Horlicks, first time ever, through a Valuation Ruling No. 640/2014 under section 25-A of the Custom Act, 1969. Customs values of drinking powders including Milo, Nesquick, Bournevita, Ovaltine and Complan from all origins having Pakistan Customs Tariff code ... Read More »

GSP status: Dastgir to visit Washington DC

ISLAMABAD: Pakistan and the United States of America (USA) are holding Trade and Investment Framework Agreement Council meeting from March 11-13 in Washington DC to resolve bilateral trade and investment issues. Minister for Commerce Khurram Dastgir will represent Pakistan in the meetings. Pakistan maintains that the US should compensate it in lieu of Reconstruction Opportunity Zones (ROZs) which were shelved. ... Read More »

MCC-Port Qasim collects revenue of Rs957m in January

KARACHI: Model Customs Collectorate (MCC) of Port Muhammad Bin Qasim under the vibrant leadership of Chief Collector (South) Nasir Masroor and Collector MCC-Port Muhammad Bin Qasim, Dr Owais Agha Jawwad has collected revenue of over Rs 957 million in the month of January. Total revenue includes Rs 355,431,135 in share of bulk cargo; revenue of Rs 46,055,020 by Qasim International ... Read More »

3 non-customs paid vehicles seized

LAHORE: Anti-smuggling unit of Model Customs Collectorate Lahore has impounded three non-customs paid vehicles worth Rs 4 million at various places in the city. Sources said that the unit seized one Mercedes model 2002, Pajero 1999 and Toyota Corolla 1998 model from Defence Housing Authority, Johar Town and Model Town Link Road. Anti-smuggling scout raided on the spots on receiving ... Read More »

AIB/R&D Section of MCC-Appraisement (West) recovers Rs21m in Jan

KARACHI: The Appraisement Intelligence Bureau (AIB) and Research and Development (R&D) Section of Model Customs Collectorate (MCC) of Appraisement (West) has recovered an amount of Rs 21,382,996 in share of tax/duty evasion, mis-declaration and under invoicing, as 30 such types of cases have been detected by the mentioned departments. Rs 313, 497 have been recovered from Lasani Auto parts in ... Read More »

ECC extends ban on duty-free gold import

ISLAMABAD: In a meeting chaired by Finance Minister Ishaq Dar, Economic Coordination Committee of the Federal Cabinet, which is the apex economic decision-making body, has extended a temporary suspension on duty free-import of gold. The ECC extended the temporary suspension on import of gold under SRO 760 till March 20, 2014. The Finance Minister directed Commerce Secretary, Federal Board of Revenue ... Read More »

Customs values of light fittings, canned Mushroom issued

KARACHI: Directorate General of Customs Valuation has determined the customs values of light fittings/fixtures through Valuation Ruling No. 638/2014 and canned mushroom through Valuation Ruling No. 639/2014 under Section 25-A of the Customs Act, 1969. According to details, the customs values of LED Lighting fixtures (with bulbs) from China having Pakistan Customs Tariff (PCT) codes 9405.1090 and 9405.4090 and proposed ... Read More »

Duties on import of parts meant for exportable cars to be refunded

ISLAMABAD: Federal Board of Revenue has retrospectively allowed repayment of customs duties paid on the import of raw materials used in production of Toyota Corolla Altis manual (1600cc) exported from November 5, 2013 onwards. According to SRO (I)2014 the extent of repayment of customs duty would be 13.74 per cent of the fob value on the import of the raw ... Read More »

TDAP, duties, tariffs to be restructured soon: Dastgir

KARACHI: Wide-ranging adjustments and changes will be introduced in duty and tariff structures in the next budget and Trade Development Authority of Pakistan (TDAP) will be restructured by inducting a new lot of professional and competent commercial consulars to project Pakistani goods in regional and international markets especially in new ones. This was stated by Federal Minister for Commerce Khurram ... Read More »

MCC Enforcement (South) collects revenue of Rs51.4m in Jan

KARACHI: Under the dynamic leadership of Chief Collector Enforcement (South) Muhammad Yahya, Model Customs Collector of Enforcement (South) of Pakistan Customs has collected revenue in share of evaded customs duty and taxes of Rs 51,378,336 after seizing smuggled goods worth of Rs 145,060,145 in the month of January 2014. According to details, MCC Enforcement (South) has detected a total of ... Read More »

Pakistan Post yet to remit Rs9.84m to FBR

KARACHI: During the audit of account of the Postal Appraisement Department for the period of the last quarter of the fiscal year 2012-13, Federal Board of Revenue has detected that Pakistan Post Office illegally retained around Rs 10 million, while deducting taxes on delivery of parcels, official sources said. According to an audit report, the postal authorities deducted the amount ... Read More »