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Tag Archives: Income Tax Forms

Govt seeks parliament nod to give market access to India

ISLAMABAD: The federal government has decided to forward Non-Discriminatory Market Access (NDMA) – a term coined after Most Favoured Nation (MFN) status for India, to parliament for approval to normalise trade ties with India. The decision was taken after lack of understanding between inner opposition and stakeholders. As per details, the government is waiting for end to sit-ins so that ... Read More »

Multan Customs clears major coal technology consignments in August

MULTAN: Multan Appraisement Principal Appraiser Mahmood Ahmad Khan has said that the Multan Dry Port authorities have cleared the major consignments of the coal power plant in August to help government end energy crisis. He said that Kot Addu Power Plant Company (KAPCO) is an independent power plant company, which generates electric power and going to install new coal power ... Read More »

In the hope of future

The foreign missions situated in the Red Zone have been closed down for five days owing to volatile situation in the area while no party seems to be in a mood to accommodate the other in the current political spectrum. In this scenario one wonders where Pakistan will stand in 2050 predicted by Jim O’Neill, a British economist, that the ... Read More »

Economy in the dock

Through their contradictory statements, the government ministers have been repeatedly warning the nation about billions of rupees losses to the national exchequer since Imran Khan, chief of the Pakistan Tehreek-e-Insaf, and Dr Tahirul Qadri, chief of the Pakistan Awami Tehreek started their marches and sit-ins in the twin cities of Islamabad and Rawalpindi. Khurram Dastgir, the federal commerce minister, puts ... Read More »

Chinese delegation visits LCCI President

LAHORE: A two member Chinese delegation led by Vice Chairman Sub Council of Chinese Chemical Industry Ma Chunyan called on LCCI President Engineer Sohail Lashari and briefed him about CAC Pakistan Summit and Pak-China Agro Chemical Expo scheduled from August 5-6 at Lahore Expo Center. LCCI Senior Vice President Mian Tariq Misbah and Coordinator of the exhibition Jawed Salim Qureshi ... Read More »

FBR to tighten the noose around Swiss depositors

ISLAMABAD: Federal Board of Revenue has decided to tighten the noose around Pakistanis having black money in Swiss banks and to retrieve money back into Pakistan. The FBR acting Chairman Shahid Hussain Asad told Customs Today that a team of FBR experts will visit Switzerland 24th of this month to pursue Pakistan’s efforts to recover untaxed billions of dollars of ... Read More »

FBR exceeds revenue target by Rs 1 billion in July

ISLAMABAD: The committed work of field formation officers under new acting Chairman helped the Federal Board of Revenue (FBR) in exceeding the revenue collection target in July 2014 by one billion rupees as it collected Rs 138 billion during the month of July against Rs 137 billion target. Acting Chairman of FBR Shahid Hussain Asad while talking to Customs Today ... Read More »

FBR acting Chairman to visit Karachi Customs House next week

KARACHI: The Federal Board of Revenue acting Chairman Shahid Hussain Asad is likely to visit Karachi Customs House next week. The FBR sources confirmed Customs Today that the acting chairman Shahid Asad would expected to visit customs house next week where he will hold meetings with the Customs officers. It further informed this scribe that the agenda of the meeting ... Read More »

IOCO starts listing genuine importers

KARACHI: The Input-Output Co-efficient Organization (IOCO) of Federal Board of Revenue (FBR) has started to compile the list of genuine importers, who has been granted concessionary regime by Pakistan Customs on their imports of raw materials according to the amended SRO565 (I)/2014. The FBR sources informed Customs Today that the IOCO after conferring the powers of dealing with SRO565 (I)/2014 ... Read More »

Tax evasion: FBR to seize accounts, property of 16 PAT leaders

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to take stern action against 16 leaders of Pakistan Awami Tehreek for not submitting tax related documents and details of foreign donations which involves tax evasion of Rs 400 million. “We have found several million rupees bank transactions through different bank statements but the PAT chief and workers did not bother ... Read More »

Customs seeks court to summon Royal Packages

KARACHI: Model Customs Collectorate of Appraisement-East has requested the Sindh High Court (SHC) to summon M/s Royal Packages (Pvt) Limited for hearing in August. It is pertinent to mention here that the M/s Royal Packages has moved court against the charges of tax evasion in terms of customs duty, sales tax and income tax through claiming of inadmissible benefit of ... Read More »

Mobile smugglers sent to judicial custody

LAHORE: District Court Judicial Magistrate Assad Gujjar sent two accused to judicial custody for attempting to smuggle 95 used Samsung note I mobiles from Korea. Customs official had arrested Akhlas Ahmad and Sajjad Saeed from Allama Iqbal International Airport. Akhlas was accused of smuggling used mobile phones worth Rs 1 million from Korea in his personal luggage. Upon his arrest ... Read More »

Chief Collector Nazim Saleem to hold meetings at Quetta today

KARACHI: Chief Collector Enforcement-South Muhammad Nazim Saleem left for Quetta for holding meetings with officers of Quetta Collectorate. As per details, the Chief Collector Enforcement-South will also visit the check-posts of Pakistan Customs established at the entry and exit points of the Quetta city. A source from FBR told Customs Today that the Chief Collector Enforcement-South will hold meetings regarding ... Read More »

Appraisers Association of MCC Appraisement-West meeting today

KARACHI: The Appraisers’ Association of Model Customs Collectorate of Appraisement-West has decided to hold a meeting today, regarding the issue pertaining to register FIRs against eight appraisers of Group-I and Group-IV in their alleged involvement in malpractices and using unfair means in clearing the consignments. The sources in MCC-Appraisement-West on condition of anonymity informed Customs Today that the appraisers association ... Read More »

Multan customs registers 129 cases in FY 2013-14

MULTAN: Multan Customs Intelligence and Investigation (I&I) has registered 129 seizure and revenue cases from July 2013 to July 2014. As per details, Customs I&I has registered five cases of vehicle seizure worth Rs 4.2 million, seven cases of miscellaneous goods worth Rs 226.83 million in July. According to a report from Multan Customs, June was the month in which ... Read More »

Missing documents: Customs holds liquor of Aussie High Commissioner

ISLAMABAD: Islamabad Dry Port Assistant Collector has refused to clear a container of liquors imported for Australian High Commissioner, held on incomplete documents. As per details, Australian High Commission has imported liquors for its High Commissioner through Islamabad dry port but on examination customs found that documents necessary for duty free import were not complete. The Ambassadors have privileged to ... Read More »

TCS smuggling scandal: Court extends bail of Hamdani, Shakirullah

ISLAMABAD: Customs court has extended anticipatory bail granted to TCS Chief Executive Saqib Hamdani and Smart Zone Company’s owner Shakirullah till August 6th. Both were accused of allegedly involved in smuggling of contrabands undercover of Afghan transit trade. On the other hand, Customs Intelligence Deputy Director Shahid Jan has decided to broadened investigation circle to other workers of The Courier ... Read More »

Multan Customs I&I seizes smuggled cloth

MULTAN: Multan Customs Intelligence and Investigation (I&I) has seized two trucks loaded with imported cloth near Khanewal toll plaza here on the other day. As per details, Haji Sadiq Achakzai was attempting to smuggle two trucks loaded with imported cloths. Additional Director Customs I&I Nisar Ahmad on tip of informer has taken action and with his special team members Sheikh ... Read More »

DTRE scheme: Customs to recover millions from Lucky Cement

KARACHI: The Federal Board of Revenue (FBR) has asked Pakistan Customs to recover tax worth millions of rupees from M/s Lucky Cement Limited as company found guilty of tax evasion in duty and tax remission for exports (DTRE) research report. The sources informed Customs Today that the FBR authorities during the DTRE research study had observed that facility granted to ... 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 »