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Tag Archives: Federal Excise Duty

CAC Pakistan summit & Agro Chemical Expo on August 5-6

LAHORE: China Agro Chemical (CAC) Pakistan Summit and Pak-China Agro Chemical Expo will be held on August 5-6, 2014 at Lahore Expo Centre. The President Lahore Chamber of Commerce and Industry (LCCI) Sohail Lashari at a press conference said that Punjab CM Shahbaz Sharif and Chinese Ambassador would attend the event Pak-China suit and expo. Mr. Lashari said that it ... Read More »

Multan Customs I&I seizes generators, vehicles worth Rs 11.2m

Multan Customs I&I seizes generators, vehicles worth Rs 11.2m Multan: Customs Intelligence and investigations (I&I) seized smuggled generators and vehicles worth Rs 11.2 million on charges of duty evasion. As per details, Multan Customs I&I confiscated the imported generator due to non-payment of customs duty along with mini trucks used in the smuggling of generator. Deputy Director Customs I&I Nisar ... 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 »

50 percent increase in FED rates irks air passengers

PESHAWAR: Federal Board of Revenue (FBR) has enhanced Federal Excise Duty (FED) rates by 50% replacing the fixed FED rates with already existing standard rate of 16 percent on tickets issued to passengers travelling aboard. National and domestic travelers flared at FBR after the decision of increase in FED on domestic and international flights. The decision has arrived after the ... Read More »

FBR to audit 42,000 tax payers for FY2013-14

ISLAMABAD: Audit selection of taxpayers will be held at FBR headquarters in September of this year. The selection will be made on the tax returns filed by taxpayers in year 2013. As per details, about 45 thousands taxpayers from cooperate and non-cooperate sector will be selected for audit for year 2013-14. Audit selection will be made through National tax number ... Read More »

MCC Port Qasim collects Rs26.5b against Rs36.8b in June’14

KARACHI: Model Customs Collectorate of Port Muhammad Bin Qasim has collected revenue amounting Rs 26,480 million by the end of June, 2014 against its target of Rs 36,759 million set by the Federal Board of Revenue for the last month of the Fiscal Year 2013-14. MCC Port Qasim despite all out efforts in order to meet the revenue target for ... Read More »

PAAPAM cries foul at rising under-invoicing

LAHORE: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has regretted at the ever-increasing smuggling and under-invoicing of auto parts and accessories, saying that the under-invoicing has been affecting the local spare parts manufacturing sector, depriving the the national exchequer of billions of rupees revenue. According to PAAPAM Chairman Usman Malik, the Federal Board of Revenue (FBR) must ... Read More »