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Tag Archives: Federal Board of Revenue

FBR starts tax collection on property transfer

SIALKOT: Federal Board of Revenue (FBR) have started collection of withholding tax on the transfer of the property of Rs.3 million or above in all all six districts Sialkot, Narowal, Gujrat, Mandi Bahaud Din, Hafizabad and of Gujranwala region. A officials told Customs Today that the FBR had already asked the Punjab government to ensure the collection of withholding tax ... Read More »

Customs Lower Employees warn of protest after Eid

KARACHI: The Pakistan Customs Lower Employees Association has decided to stage protest demonstration after Eid-ul-Fitr for the fulfillment of their legal demands. According to the details, General Secretary Aftab Hussain Shah Hamdani informed Customs Today that the lower employees association with the consent of all its members has decided to stage protest after Eid. The demands of Pakistan Customs Lower ... Read More »

Dastgir calls on Bhutan’s Minister for economic affairs

ISLAMABAD: Minister of Commerce, Engineer Khurram Dastgir Khan called on Economic Affairs Minister of Kingdom of Bhutan Lyonpo Norbu Wangchuk, on the sidelines of the 8th South Asian Free Trade Agreement (SAFTA) ministerial council meeting in Thimphu. In the meeting, two Ministers insisted on deepening the good relations that the two countries already enjoyed. They also discussed on enhancing present ... Read More »

Eid holidays: Exchequer likely to suffer Rs25-30b loss

ISLAMABAD: National exchequer may suffer Rs25-30 billion loss due to long holidays of Eid-ul-Fitr. Due to which revenue target of the first month of FY2014-15 could not be achieved. Acting FBR Chairman Shahid Hussain Asad told Customs Today that closure of businesses during Eid holidays will certainly affect the revenue collection. “At least Rs 6 billion revenue is being collected ... Read More »

Tahirul Qadri tax evasion: FBR to unfold investigations soon

ISLAMABAD: Federal Board of Revenue reportedly completed investigations into Pakistan Awami Tehrik (PAT) chairman Dr Tahirul Qadri’s Rs 770 million tax evasion and decision will soon be publicized. As per details, FBR has issued orders of a legal proceeding against PAT chairman Dr Tahirul Qadri and his organization after completing investigations of tax evasion. FBR source told Customs Today that ... Read More »

Containers’ grounding: PICT, KICT fail to resolve issues

KARACHI: The importers and traders have been facing mismanagement and delaying tactics by administration of Pakistan International Containers Terminal (PICT) and Karachi International Containers Terminal (KICT) in grounding of containers. “Pakistan Customs’ officials use delaying tactics and give lame excuses like shortage of labour and space while grounding containers for examination” Shujaat Ahmed an importer informed Customs Today. Kamran Akhtar, ... Read More »

Lahore ANF seizes 30.2 kg drugs, arrests 9 smugglers

LAHORE: The Anti-Narcotics Force (ANF) conducted operations in various areas of Lahore and seized huge quantity of charas and heroine and other drugs. The ANF Lahore intercepted Toyota Corolla Car No ADA- 310 (Sindh) at Rikhi Morr, Talagang Road, Mianwali and recovered 24 kg charas concealed in secret cavities of the car. Two drug smugglers namely Aman Ullah Khan and ... Read More »

FBR seeks Finance Ministry to take ADRS down

ISLAMABAD: The Federal Board of Revenue asked the Finance Ministry to take down Alternative Dispute Resolution System (ADRS) due to its poor performance. The Alternate Dispute Resolution (ADRS) offers companies an opportunity to apply full force of the law efficiently and effectively. Whereas the system has no option but to apply justice through the natural course of a blocked court ... Read More »

SHC orders early release of M/s Royal Packages’ consignments

KARACHI: The Sindh High Court (SHC) in its verdict asked Pakistan Customs to release the consignment of M/s Royal Packages after submission of unpaid differential amount in share of duty. According to the details, the Research and Development (R&D) Section of Model Customs Collectorate (MCC) of Appraisement-East had identify a case of huge tax evasion of Rs308 million by M/s ... Read More »

FBR assesses legal provisions of budget 2014-15

ISLAMABAD: The Federal Board of Revenue (FBR) has started discussions on impacts of legal provisions presented in the budget for FY 2014-15. Government introduces legal provisions in the federal budget to facilitate FBR to meet the revenue collection target every year and then a process of review of impacts of legal provisions also continues throughout the year. A meeting in ... Read More »

Customs issues valuation ruling of Methylene Chloride

KARACHI: The Directorate General of Customs Valuation has issued the Customs values of Methylene Chloride through Valuation Ruling No.679/2014 under Section 25-A of the Customs Act, 1969. The said Valuation Ruling has superseded the previous Valuation Ruling No.629 regarding the Customs values of Methylene Chloride. According to the details, the Customs values of Methylene Chloride having PCT Code 2903.1200 and ... Read More »

Customs I&I seizes 120,000 litres smuggled oil

Karachi: Directorate General of Intelligence and Investigation (I&I) Hyderabad seized oil tankers carrying sixty thousand litres of smuggled oil worth Rs 10 million. As per details, DG I&I on tip of informer raided oil tankers carrying smuggled oil and seized 60,000 litres oil. Three criminals have been arrested during the seizure. It was said that oil was being smuggled to ... Read More »

CHS vows relief efforts till IDPs back at home

LAHORE: Customs Health Society (CHS) President Dr. Asif Mehmood Jah assured that relief efforts for IDPs will continue until every IDP back at home at North Waziristan. He mentioned that the CHS has also dug out Thirty five (35) water wells in Tharparkar area of Sindh for provision of clean drinking water to more than 50,000 people of the area. ... Read More »

Customs I&I will hold auction on Wednesday

Multan: Multan Customs Intelligence and Investigation (I&I) will hold public auction of seized goods on Wednesday July 23. According to Customs Intelligence and Investigation the auction of seized goods will be held on Wednesday at Customs Intelligence and Investigation (I&I) office near Khanewal road. The Customs authorities were expecting handsome revenue from the auction, which is one of the main ... Read More »

Tight inspection: FBR to launch electronic monitoring system

ISLAMABAD: Federal Board of Revenue has decided to introduce electronic monitoring system SEMP to void the tax theft at manufacturing level. As per a FBR source the project of SEMP has been in preliminary stage and FBR will hire a private company who would start a pilot project very soon to implement it practically. FBR authorities were of the view ... Read More »

ANF recovers 17kg drugs, arrests 4

ISLAMABAD: Anti Narcotics Force seized 17 kg of drugs and arrested 4 culprits during its raids at airport, highways and bus stands. As per details, ANF has conducted raids in Islamabad, Faisalabad and Lahore and recovered 17kg capsules filled with charas and heroine. ANF also arrested 4 culprits and confiscated their vehicle. At main motorway tool plaza Lahore ANF, on ... Read More »

I-Checks over promotion vexes FBR officers

ISLAMABAD: The Officers of Federal Board of Revenue have been under immense stress over recent shift of promotion policy of the government to verify their names with Intelligence agencies (I-Checks). The new policy created frustration among FBR officials as many customs officers have been denied promotion to upper grades on suggestions of Intelligence agencies. Those suggestions were based on the ... Read More »

Customs seizes cigarettes, gutka, sheesha worth Rs 66m

KARACHI: Directorate of Customs Intelligence Karachi and Pakistan Rangers Sindh in a joint operation recovered huge quantity smuggled cigarettes, Indian gutka and flavor sheesha worth Rs 66million at Bolton Market Karachi. As per details, foreign cigarettes, gutka and sheesha in a huge quantity have been illegally stored in different areas of Bolton Market Karachi. A team of Customs Intelligence officials ... Read More »

KTBA proposes reforms to “wealth statement form”

KARACHI: The Karachi Tax Bar Association (KTBA) in its recent move has presented a proposal to the Federal Board of Revenue (FBR) regarding the “Wealth Statement Form”. The proposal pertaining Agricultural land and other property requested that the wealth statement form should be simple for taxpayers and practitioners so that they could communicate in better way for required information adding ... Read More »

TCS finds scapegoat for smuggling scandal

ISLAMABAD: The Courier Service (TCS) administration dismissed its Chief Executive Saqib Hamdani and Islamabad Regional Manager Logistics Ghazanfar Gul amid the recent smuggling scandal. As per details, TCS has fired Saqib Hamdani and Ghazanfar Gul from their posts putting all responsibility of smuggling goods upon their shoulder. Earlier, it was reported that TCS with collaboration of Smart Zone Company had ... Read More »