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Tag Archives: Customs Today

Ceremony held to commemorate customs’ support for IBA students

KARACHI: A ceremony to mark a support initiative by Pakistan Customs for the students of Institute of Business Administration (IBA) from rural areas took place on Wednesday at the Directorate General of Training and Research (DGTR). Former Governor State Bank of Pakistan (SBP) and Director of IBA Dr Ishrat Hussain was the chief guest on the occasion. Chief Collector Appraisement-South ... Read More »

Customs striving for revenue recovery through speedy performance

KARACHI: MCC Appraisement-East, MCC Appraisement-West and MCC Port Muhammad Bin Qasim of Pakistan Customs while following the directives of Chief Collector Appraisement-South Nasir Masroor Ahmed have further hastened their revenue recovery in order to attain maximum revenue by the end of last month of fiscal year 2013-14. Official sources informed Customs Today that all the three Collectorates have sped up ... Read More »

China blocks proposed global shipping alliance

BEIJING: China declared it was blocking a proposed alliance among global shipping giants due to competition concerns. Denmark’s AP Moller-Maersk, France’s CMA CGM and the Swiss MSC Mediterranean Shipping Company — the world’s three biggest ocean carriers — announced plans for their so called P3 Network in June last year. The aim was to use a combined fleet to cut ... Read More »

FBR to collect over Rs130b in two weeks

ISLAMABAD: Despite dynamic efforts to achieve reduced revenue target after two revisions, Federal Board of Revenue appears to lag behind the mark as in the first sixteen days of June 2014, FBR has collected only Rs 91.676 billion. To meet the tax collection target, FBR is yet to generate over Rs 130 billion in two weeks. However, taking into consideration ... Read More »

No date extension for officials to submit returns: FBR

ISLAMABAD: Federal Board of Revenue has announced that there will be no extension in the last date for filing returns by FBR officials. According to sources in FBR, officers and staff of the Board were warned to submit their returns and details of their assets by June 16. It was clarified that special allowance of the officials who fail to ... Read More »

Customs seizes 106 tonnes of smuggled black tea worth Rs53m in 12 days

KARACHI: In order to curb the smuggling of black-tea Pakistan Customs authorities have recovered and confiscated 106 tonnes of smuggled black-tea all together worth Rs 53 million in last 12 days of June. Information was received by the authorities of Customs Directorate of Intelligence and Investigation that a huge quantity of smuggled black-tea from Afghanistan was stored at different warehouses in ... Read More »

Customs facing low import volume countrywide

KARACHI: Pakistan Customs is facing 28 per cent low import volume at nationwide level in the first 15 days of June as compared to the same period in the last fiscal year. Sources informed Customs Today that Pakistan Customs is also lagging behind in collecting customs duty on imports by 29 per cent in the first 15 days of June ... Read More »

FBR fine-tunes Finance Bill 2014-15 for NA approval

ISLAMABAD: After compilation of proposals and recommendations provided by the members of both Upper and Lower houses and Senate’s Standing Committee on Finance as discussed during the different sessions of debate over the next budget, Federal Board of Revenue has finalised the Finance Bill 2014-15. Sources said that the proposals and recommendations of the Finance Bill have reached the Finance ... Read More »

Committee to sort out anomalies in budget from July: Tariq Bajwa

ISLAMABAD: Federal Board of Revenue will form a committee to identify and eliminate anomalies in Budget 2014-15 which will start working in July 2014. The committee will analyse the proposals regarding customs duty tariffs and exemptions forwarded by Federation of Pakistan Chambers of Commerce, other Chambers and various trade organisations. Sources in FBR informed Customs Today that FPCCI President Zakria ... Read More »

MCC Appraisement-East issues SOPs for revenue recovery

KARACHI: Model Customs Collectorate of Appraisement-East on the directives of Collector Najeeb-ur-Rehman Abbasi has issued the Standard Operating Procedures (SOPs) for recovering of evaded duty/taxes to all the departments concerned. FBR sources informed Customs Today that the SOPs have been circulated in the entire section of Research and Development (R&D) with a view to ensure speedy recovery of the national ... Read More »

Secy Enforcement & Coordination seeks appropriate measures against oil, diesel smuggling

KARACHI: Secretary Enforcement and Coordination Zubair Shah, through a letter, has asked the Chief Collector of Enforcement-South Muhammad Nazim Saleem to evolve a comprehensive strategy and taking appropriate action in order to curb illegal smuggling of oil and diesel from Iran. In the letter, Secretary Enforcement and Coordination Zubair Shah has also given reference to the letter no. UO 7(11) ... Read More »

Adjudication-II issues ONO against M/s Hinah Impex on mis-declaration

KARACHI: The Collectorate of Customs Adjudication-II has issued Order-in-Original (ONO) against the importer M/s Hinah Impex in case of mis-declaration on import of wedding material having total cost of $ 45,120. The importer has attempted to evade the revenue amounting to Rs 1,420,591 while the goods valued to the tune of Rs 4,524,456. A penalty of Rs 300,000 is imposed ... Read More »

PIAF hails fixing of export targets for commercial counsellors

LAHORE: Pakistan Industrial & Traders Associations Front (PIAF) has welcomed the decision of Trade Development Authority of Pakistan (TDAP) to fix export targets for commercial counsellors appointed in embassies abroad and termed it a step in right direction to promote the exports of the country. Chairman PIAF, Mailk Tahir Javaid in a press statement issued here on Monday said that ... Read More »

Central region’s duty collection shows sluggish growth

LAHORE: Central Region of Pakistan Customs has collected total customs duty of Rs 30,147 million for the fiscal year 2013-14, up 6 per cent against Rs 28,462 million during the same period last fiscal year. However, central region seemingly missed the set target of Rs 33,798 million by 11 per cent. Model Customs Collectorate of Appraisement, Lahore has collected Rs ... Read More »

Property/services tax will not affect poor: Shujaur Rehman

LAHORE: Punjab Finance Minister Mujtaba Shujaur Rehman has said that Imposition of tax on property and services would not affect the poor. He said property tax had been revised after 13 years or so. The funds generated under this head would be given to town municipal administrations and other development and civic agencies. “The revenue generated through this pragmatic measure ... Read More »

Large scale transfers, postings in FBR expected

KARACHI: Transfers and postings at a large scale are in the offing in Federal Board of Revenue after the end of Fiscal Year 2013-14. FBR sources informed Customs Today that the federal government, due to the significant and continued shortfall in revenue collection throughout the year, is mulling over to bring some changes in the top brass of FBR. Sources ... Read More »

Security concerns: Customs authorities detain 6 clearing agents

KARACHI: Owing to recent law and order situation and security measures taken by the Model Customs Collectorate of Preventive, Pakistan Customs authorities have detained six clearing agents for not showing their identity while entering the premises of Custom House, Karachi. The clearing agents were trying to enter the premises of Customs House without proving their identity to the Customs guards ... Read More »

MCC Appraisement-East initiates survey for detecting SRO violation

KARACHI: Research and Development (R&D) Section of the Model Customs Collectorate of Appraisement-East has initiated a survey of the industrial and manufacturing units by following the directives of MCC Appraisement-East Collector Najeeb-ur-Rehman Abbasi. Collector Najeeb-ur-Rehman Abbasi has issued clear directives to the R&D Section officers in order to conduct a thorough survey of the industrial and manufacturing units to detect ... Read More »

MCC Appraisement-West initiates crackdown on tax evader importers

KARACHI: Post Release Verification (PRV) Section of Model Customs Collectorate of Appraisement-West on the directives of Chief Collector-South Nasir Masroor and Collector MCC Appraisement-West Muhammad Saleem, has geared up to initiate a crackdown for recovery against the defaulters and non-taxpayer importers, who were found involved in mis-declaration and tax evasion in their imported consignments. Sources informed Customs Today that a ... Read More »

Security concerns: Authorities mulling over relocation of customs laboratory

KARACHI: Authorities of Pakistan Customs have expressed their concerns over the existence of Customs Laboratory in the premises of Customs House, Karachi. FBR sources informed Customs Today that the Chief Collector of Enforcement-South Muhammad Nazim Saleem, through a letter, has urged the Collector of Model Customs Collectorate of Preventive, Syed Muhammad Tariq Huda to re-locate the Customs Laboratory from the ... Read More »