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Tag Archives: Customs I&I

MCC Preventive collects Rs7913.34m in July

KARACHI: The Model Customs Collectorate (MCC) of Preventive has collected a sum of Rs 7913.34 million in the month of July in share of Customs Duty (CD), sales tax, Federal Excise Duty (FED) and Withholding Tax (WHT). According to details, the MCC Preventive has collected an amount of Rs 867.58 million in share of customs duty in July with increase ... Read More »

PRV Section of MCC Appraisement-West recovers Rs11.84m in July

KARACHI: The Post Release Verification (PRV) Section of Model Customs Collectorate (MCC) of Appraisement-West has recovered Rs 11.84 million during the month of July from different importers in violation of valuation rulings, concessionary SROs and classification of Pakistan Customs Tariff (PCT). According to details, the PRV Section has recovered an amount of Rs 6.01 million through GD No 166797, recovered ... Read More »

Govt to impose 5% tax on Solar Panels by September

ISLAMABAD: The federal government has been planning to impose 5% tax on import of solar panels and related equipment by September this year. However, Parliamentary Secretary for Finance, Revenue, Economic Affairs, and Statistics & Privatization Rana Muhammad Afzal Khan said that government has not yet imposed any tax on solar panels import but it is expected after completion of assessment ... Read More »

Customs to issue show-cause notices to fabric importers

KARACHI: The Collectorate of Customs Adjudication-I and II has been going to issue show-cause notices (SCNs) from the next week to the importers of textile fabric, involved in mis-declaration and tax evasion. The FBR sources informed Customs Today that the Collectorate of Customs Adjudication has prepared show-cause notices which will probably being issued to the parties from Tuesday. It further ... 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 »

TCS, Smart Zone case: Customs submits challan against Hamdani, Shakirullah

ISLAMABAD: The Customs Intelligence and Investigation (I&I) has submitted the challan in customs court against TCS CEO Saqib Hamdani and Smart Zone Company owner Shakirullah, declaring them accused of smuggling, in their initial investigations. As per details, during the hearing of TCS and Smart Zone Company smuggling case in customs court of Islamabad customs judge Muhammad Ahmad Farooqui yesterday, Smart ... 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 »

FIR against appraiser: Customs I&I not on board with probing committee

KARACHI: The 6-member committee formed to investigate the aspects of First Information Report (FIR) lodged by the Directorate General of Customs Intelligence and Investigation against the appraiser Sarfaraz Bangash Zai in MCC Appraisement-West on his alleged involvement in clearing the consignments of oil by using unfair means, has yet to start its working due to absence of basic information of ... Read More »

Corruption charges: Govt stops FPCCI funding; NAB,TDAP launch probe

ISLAMABAD: The federal government has stopped funding of the Apex chamber, following the corruption allegations of Rs 250 million in construction of FPCCI Capital Office building and ordered National Accountability Bureau to investigate the matter. After getting evidence of corruption from Federation of Pakistan Chambers of Commerce and Industry (FPCCI) former vice president Mirza Abdul Rehman, the Federal Secretary Commerce ... Read More »

Dastgir seeks local, foreign experts’ help to double exports

ISLAMABAD: Federal Minister of Commerce Engineer Khuram Dastgir has decided to appoint local and foreign commerce experts who will assist the government to double the trade volume of the country. Local experts include two former Governors of State bank Dr Ishrat Hussain and Shahid Kardar along with local economic analysts. Federal Minister has asked them to assist government with their ... 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 »

State Life to have new Chairman soon: Dastgir

ISLAMABAD: Federal Minister of Commerce Engineer Khurram Dastgir has assured the administration of State Life Insurance Corporation Limited that decision on appointment of Chairman and board members will be taken soon on priority basis. As per details, Federal Minister Khurram Dastgir during a meeting to examine the half-yearly performance of State Life Insurance Corporation Limited said that Corporation needs to ... Read More »

RDA finalizes draft of revised textile bill

ISLAMABAD: The Research Development and Advisory cell of textile ministry has prepared a bill envisaging wide-ranging measures to encourage value-addition in textiles and to give rights to Textile Ministry for legislation about promotion of textile exports. The bill enabled the ministry to raise standards, store and enhance exports quality of textile goods of country. Previously, RDA prepared an act for ... Read More »

FBR directs RTOs, LTUs to collect data of potential taxpayers

ISLAMABAD: The regional tax offices and large taxpayer units (LTU) on directions from Federal Board of Revenue (FBR) has covertly started to collect and computerize details about potential tax payers to increase the tax base. As per details, FBR has directed all regional offices to collect details about source of income, property and tax payments of residents in their jurisdiction. ... Read More »

Multan Customs registers 19 cases in July, recovers Rs13.74m

Multan: Customs Intelligence and Investigation has registered total 19 seizure cases involving Rs 13.74 duty evasion in July 2014. As per details, Multan customs Intelligence and Investigation registered 13 cases in the range office Multan, 2 cases in Dera Ghazi Khan and one case in Sadiqabad respectively. Moreover, total duty and taxes recovered in these raids estimated at Rs13.74 million. ... 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 »