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Itac imposes 14.29% anti dumping duty on Pakistani cement

CAPE TOWN: The International Trade Administration Commission of SA (Itac) has imposed provisional anti-dumping duties of between 14.29% and 77.15% on Pakistani cement imports, up to and including November 13. This comes about 10 months after cement producers representing the industry in the Southern African Customs Union (Sacu) submitted an application to Itac saying they are suffering “material harm” from ... Read More »

Itac imposes 14.29% anti dumping duty on Pakistani cement

CAPE TOWN: The International Trade Administration Commission of SA (Itac) has imposed provisional anti-dumping duties of between 14.29% and 77.15% on Pakistani cement imports, up to and including November 13. This comes about 10 months after cement producers representing the industry in the Southern African Customs Union (Sacu) submitted an application to Itac saying they are suffering “material harm” from ... Read More »

Finnish alcohol duty to bring in €240m in state coffers

HELSINKI: Alcohol producers are warning that a sharp increase of excise duty on alcohol would end the border trade between Estonia and Finland, fuel alcohol smuggling and illegal alcohol trade, reduce the number of tourists by half and bankrupt the alcohol industry. The previous so-called spring coalition of Reform Party and Social Democrats decided to increase alcohol and tobacco excise ... Read More »

Hong Kong stamp duty revenue jumps by 80% to HK$70 billion in 2014

HONG KONG: The city’s revenue from stamp duties received in this financial year could amount to HK$70 billion, a more than 80 per cent jump from last year, thanks to the government’s extra effort to cool the property market. A source familiar with the situation said the double stamp duty – targeting investors owning more than one property – had ... Read More »

Hong Kong stamp duty revenue jumps by 80% to HK$70 billion in 2014

HONG KONG: The city’s revenue from stamp duties received in this financial year could amount to HK$70 billion, a more than 80 per cent jump from last year, thanks to the government’s extra effort to cool the property market. A source familiar with the situation said the double stamp duty – targeting investors owning more than one property – had ... Read More »

Petrol prices jump in Singapore after duty hike

SINGAPORE: Pump prices across all four petrol companies were up, following Budget announcement of a hike in petrol duties here the other day. The most popular grade of petrol, 95-octane, now costs between $2.01 and $2.04 per litre. Premium grade petrol, such as 98-octane, now ranges from $2.20 a litre at the Singapore Petroleum Company, to $2.65 for Shell’s V-Power. ... Read More »

Petrol prices jump in Singapore after duty hike

SINGAPORE: Pump prices across all four petrol companies were up, following Budget announcement of a hike in petrol duties here the other day. The most popular grade of petrol, 95-octane, now costs between $2.01 and $2.04 per litre. Premium grade petrol, such as 98-octane, now ranges from $2.20 a litre at the Singapore Petroleum Company, to $2.65 for Shell’s V-Power. ... Read More »

Taiwan’s Tax Authority plans to impose duty on online purchases

TAIPEI: Taiwan’s tax authorities plan to charge a duty on imported goods purchased online even if their value is under NT$3,000 (US$95). The amendment to this regulation is believed to be aimed at imposing taxes to goods bought online and sent to Taiwan by Taobao, China’s leading online shopping platform. Taiwanese buyers who may themselves operate stores have until now ... Read More »

Customs Department urged to rectify mistakes in Ruling No 685

KARACHI: All Pakistan Motorcycles Spare Parts Importers and Dealers Association Chairman Faisal Khalil said on Tuesday that duty on several items has been written wrong in the ruling No 685. Talking to Customs Today, he said they had written a letter to the Customs Department in this regard, but no action has been taken so far. Khalil said duty on ... Read More »

Customs seizes Viscos Yarn consignment on using wrong PCT

ISLAMABAD: Directorate of Customs Intelligence and Investigation Islamabad has seized a container of Viscos Yarn Clothes and registered FIR against Saleem Silk Center Rawalpindi on their attempt to clear the consignment by mis-declaration. As per details, the payable duty on the consignment was Rs 4.8 million but importer paid only Rs 1.8 million duty, usually payable for Fabric cotton and ... Read More »

Appraisement-West to collect duty, taxes till 10pm today

KARACHI: The Model Customs Collectorate (MCC) of Appraisement-West has extended its office timings on Monday (29-09-2014) and Tuesday (30-09-2014 for the collection of duty/taxes. According to the circular issued by the Office of the Assistant Collector (Establishment), Muhammad Akbar Jan, the collection of duty/taxes would be conducted by the authorized branches of State Bank of Pakistan (SBP), National Bank of ... Read More »

R&D Section of Appraisement-East recovers Rs 24.46m

KARACHI: The Research and Development (R&D) Section of the Model Customs Collectorate of Appraisement (East) has recovered Rs 24.46 million from 22 cases in August, 2014. According to details, the R&D Section has made the recovery of Rs 3,676,281 on the commodity (perfumery items) against the charge of mis-declaration of value and PCT. It has recovered an amount of Rs ... Read More »

Mis-declaration: ONO issued against Saima Packaging

KARACHI: The Collectorate of Customs Adjudication has issued Order-in Original (ONO) against the importer, Saima Packaging (Private) Limited for its alleged involvement in concealing the actual description of the imported goods through mis-declaration. According to details, the Model Customs Collectorate of Appraisement (East) detected a case in which the Saima Packaging tried to pay 10 percent duty on the goods ... Read More »

Customs seizes Rs 7m illegal vehicles in Lahore

LAHORE: Customs anti-smuggling unit on Thursday confiscated three vehicles worth Rs 7 million involving duty and taxes of Rs3.4 million. Official sources said that the anti-smuggling seized three vehicles including Toyota Estima, Toyota Surf and Suzuki Every at various places in the city including DHA, Mozang and Ghung. They said that under the instruction of collector of customs adjudication, anti-smuggling ... Read More »

Taxpayers denounce delaying tactics of NBP staff

KARACHI: The taxpayers expressed their deep concerns over pathetic performance and delaying tactics of National Bank of Pakistan (NBP), Custom House Branch while submitting Customs Duty and other taxes. While sharing their views with Customs Today, taxpayers showed their anguish as they have been passing through tremendous agony during the holy month of Ramadan. they said,  they have to wait ... Read More »

SHC orders to release fabric consignments on US$4.50per kg duty payment

KARACHI: The Sindh High Court (SHC) in its verdict, permitted importers of fabric to cleared their consignments after paying duty at US$4.50per Kg. The Honourable Court has given its verdict against the three Constitutional Petitions filed, including (CP) No. D-3409/2014 filed by the proprietor of M/s Ehsan Sons. The other two CPs were filed by M/s Vital Enterprises and M/s ... Read More »

Multan ASO seizes 181 vehicles

MULTAN: Multan Customs Anti-Smuggling organization seized 181 Motor vehicles during the fiscal year 2013-14. As per details, Anti-Smuggling Organization seized 181 motor vehicles during different raids and monitoring of provincial border. The success of Anti-smuggling Organization (ASO) in seizing this amount of vehicles shows extraordinary performance of ASO’s officials. Therefore, these efforts of Multan Anti-Smuggling Organization were resulting in gradual ... Read More »

Collection of duties, taxes: Banks to remain open for extended hours till 30th

ISLAMABAD: In order to facilitate the taxpayers in depositing their duties and taxes during the last few days of the current financial year, the State Bank of Pakistan, on request of FBR has decided to keep authorized branches of State Bank of Pakistan, National Bank of Pakistan, Commercial Banks and National Institute of Facilitation Technologies (NIFT) open for extended hours. ... Read More »

FBR directs post-clearance audit of vehicles cleared under amnesty

ISLAMABAD: The Federal Board of Revenue (FBR) has directed Customs department to conduct post-clearance audit of over 50,000 vehicles cleared under ‘Vehicle Amnesty Scheme’ in 2013. According to details, the PCA department on the directives of FBR has constituted four teams to determine either duty/taxes were collected as per procedure or these 50,000 vehicles were cleared after receiving short payments. ... Read More »

Duty may slash on raw material for abrasive cloth sheet, papers

ISLAMABAD: The government is likely to massively slash duty on abrasive cloth sheet, belts/roll, sand paper, fiber disc and buffing paper in the federal budget 2014-15 to be announced on June 3. According to reports, local manufacturers of such products are at a disadvantage compared to importers. On the basis of analysis of available information, the National Tariff Commission (NTC) ... Read More »