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Tag Archives: Customs Today

Importers, traders express concerns over valuation guidelines of cotton, cotton-blended fabrics

KARACHI: The importers and traders have expressed their deep concerns over the valuation guidelines issued by Pakistan Customs-FBR on import of cotton fabric and cotton-blended fabric. The importers and traders were of the view that the Pakistan Customs has issued a high valuation guideline of cotton-blended fabric as compared to cotton fabric. One of the importers while sharing his views ... Read More »

Secretary asks Chief Collector to foil smuggling of POL products

KARACHI: Secretary Law and Procedure Fazl-e-Samad through a letter has asked the Chief Collector of Customs Enforcement-South Muhammad Nazim Saleem to formulate schedule and strategy for collection of duties/taxes through auction of seized petrol and diesel. In the letter, Secretary Law and Procedure further advised the Chief Collector of Enforcement-South to make effective measures in order to thwart and foil ... Read More »

MCC Appraisement-West announces auction schedule for June

KARACHI: Model Customs Collectorate of Appraisement-West on the directives of Collector, Muhammad Saleem has announced an auction schedule for the remaining month of May and June, 2014. The auctions of imported vehicles (Toyota, Suzuki) and different goods would start on May 29 and continue until June, 23 at different terminals of MCC Appraisement-West. Auction of vehicles and goods would be ... Read More »

Tuesday May 27 Monday June 02, 2014

Customs Today News Paper

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Dollar jumps in open market ahead of summer vacations

KARACHI: After staying stable for over a month and a half, US dollar crossed Rs 100 mark in the open market towards the end of this week, said currency traders. Dollar crossed Rs100 by midday however returning back to Rs 99.85 by the close, said a money changer. The greenback breached the limit on Thursday as it was traded at ... Read More »

Bajwa briefs Dar on phase-wise SRO withdrawal

ISLAMABAD: Federal Board of Revenue Chairman has delivered a detailed presentation to Finance Minister Ishaq Dar on the plan for phasing out the Statutory Regulatory Orders (SROs) in three years timeframe. Chairman Bajwa informed that the plan encompasses principles to remove contradictions and distortions. He said that after consultations with the stakeholders the recommendations have been prepared for the committee ... Read More »

Pak Youngsters becoming fond of heavy bikes, imports soar manifold

KARACHI: Import of new and used heavy bikes has increased sharply during the ten months of the current fiscal year reflecting the rising interest of young generation in riding such motorcycles. Figures released by Pakistan Bureau of Statistics (PBS) showed quadrupled jump in heavy bike imports to $ 4.6 million in the period from July 2013 to April 2014 as ... Read More »

Certified, quarterly ST returns filing for commercial entities in the offing

ISLAMABAD: Finance Ministry on proposals of Federal Board of Revenue may introduce fresh regulations in the upcoming budget to reduce evasion of sales tax by hiring chartered accountants to verify the authenticity of filed returns by commercial entities in four quarterly filings rather than monthly filing. As a test case, quarterly filings may be made mandatory for certain picked sectors. ... Read More »

Officials propose FBR to introduce two slabs for import duties

KARACHI: Officials of Pakistan Customs have put forward some recommendations before Federal Board of Revenue Chairman Tariq Bajwa and Member Customs Nisar Muhammad Ali in order to eliminate corruption, tax evasion, mis-declaration and under-invoicing from the customs. According to sources, officers have recommended the introduction of two slabs for duties/taxes one for commercial imports and other for industrial imports with ... Read More »

Lahore Tax offices collect Rs260b in 10 months

LAHORE: Federal Board of Revenue has collected Rs 260 billion on account of income tax, sales tax and excise duty in 10 months of the current Fiscal Year 2013-14 in Lahore region, official sources said. Large Taxpayers Unit, Regional Tax office I and II collectively gathered the amount under the heads of sales tax, income tax and federal excise duty ... Read More »

MCC Appraisement-East gears up for conducting examination through iPads, tablets

KARACHI: Model Customs Collectorate of Appraisement-East has also introduced the latest technology in the examination area of Pakistan International Containers Terminal (PICT) for rapid completion of examination reports. Deputy Collector Ataullah Shabbir of MCC Appraisement-East has informed Customs Today that a pilot project in examining the Goods Declarations (GDs) through iPads and tablet PCs would be initiated at PICT from ... Read More »

Non-duty paid vehicles, articles worth Rs287m seized in 3 quarters

LAHORE: Anti-smuggling wing of Model Customs Collectorrate Lahore has confiscated vehicles, goods and articles worth Rs 229 million in 287 cases in nine months of the current fiscal year. Details reveal that the anti-smuggling scout registered cases against 84 non-duty paid vehicles worth Rs 36 million while seizing goods and articles worth Rs 194 million in 203 cases. During the ... Read More »

9 inspectors, 28 senior preventive officers promoted

KARACHI: Model Customs Collectorate of Preventive has promoted nine Inspectors of Preventive Service (BS-16), to Superintendents of Preventive Service (BS-16) and 28 Senior Preventive Officers (BS-16) to Inspectors Preventive Service (BS-16). According to a notification numbered 0934-C-III/2014, the Customs officials who got promotion from inspectors to superintendents include Ahmed Kabir, Arif Munir, Muhammad Farooq, Zarrar Bin Azmat, Sarfaraz-ul-Hassan, Sahib Zar ... Read More »

Shipping Bill to be enacted soon: Kamran Michael

KARACHI: Federal Minister for Ports and Shipping Kamran Michael has said that the government would soon put the Shipping Bill before the National Assembly for approval to modernise the ports and shipping sector. He said this during a meeting organised by the All Pakistan Shipping Association (APSA). Michael informed that the Shipping Bill had been lying with the ministry for ... Read More »

Top cricketers’ undeclared incomes revealed, FBR issues notices

LAHORE: Misbahul Haq, the Pakistani cricket team’s skipper along with Muhammad Hafeez, Azhar Ali and Taufiq Umar have not been informing the tax officials fully in their tax returns. As a result FBR has taxed them heavily after revelation of their additional incomes. FBR has imposed additional taxes after comparing the bank accounts and tax returns of the four cricketers. ... Read More »

Chief Collector, Collector inspect examiners’ performance on iPads, tablets

KARACHI: Chief Collector Appraisement-South Nasir Masroor Ahmed and Collector of Model Customs Collectorate of Appraisement-West, Muhammad Saleem along with the team of Customs Today visited Karachi International Container Terminal (KICT) in order to inspect the working of examining officials after getting iPads and tablets of latest technology for examining and assessing Goods Declarations (GDs). Chief Collector Appraisement-South and Collector MCC ... Read More »

Rs450m vehicle amnesty scam: Audit of Customs officials’ accounts suggested

KARACHI: The 3-member fact-finding committee comprising MCC Exports Collector Dr Wasif Memon, Additional Director of Directorate of Intelligence and Investigation-Customs Karachi Khalil Yousufani and Additional Director Audit in its report has recommended a complete audit of bank accounts of all customs officials including officers deployed in Vehicle Group (Group-VII) during the period of Vehicle Amnesty Scheme. According to sources in ... Read More »

FBR seizes bank accounts of Al Moeez sugar mill, recovers Rs3m

LAHORE: Federal Board of Revenue has recovered Rs 3 million from bank account of Al Moeez Sugar Mill in Bank Alfalah Branch in Gulberg. According to details, Al Moeez Sugar Industries was to pay Rs 80 million as taxes for the Tax Year 2012-13. However, the Sugar Mill did not pay due taxes despite repeated notices to the mill owners, ... Read More »

M/s Eastern Garments booked in tax evasion of Rs96.6m, Contravention Report issued

KARACHI:  Model Customs Collectorate of Exports has issued a Contravention Report (CR) against M/s Eastern Garments (Pvt) Limited for violation of Section 19 and 32(3A) of the Customs Act, 1969 read with Rule 3(1) (f)(i) and (j) of SRO327(I)/2008 which included tax evasion of Rs 96,582,274 including Rs 92,881,179 in share of customs duty and taxes and Rs 3,701,095 in excess of imported ... Read More »

Pak Customs saves national heritage, 2210 ancient coins seized

ISLAMABAD: Pakistan Customs has confiscated over two thousand ancient coins belonging to middle ages and before from a passenger attempting to smuggle them to China. Pakistan Customs revealed that a male passenger namely Mehar Nabi was supposed to board the flight to Urumqi in Xinjiang province in China. When Customs staff at Islamabad International Airport went through his baggage they ... Read More »