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Tag Archives: mis-declaration

PCA detects Rs6m tax evasion by M/s Alam Fayyaz & Sons & Landhi

KARACHI: The Directorate of Customs Post Clearance Audit (PCA) on Thursday detected duties and tax evasion of Rs 6 million by M/s Alam Fayyaz and Sons, Landhi, Karachi and sent report of concern to adjudication, it is learnt here. Sources told Customs Today that M/s Alam Fayyaz and Sons, Landhi, Karachi imported two consignments of imported dinner sets, included fancy dinner ... Read More »

FBR Chief Bajwa urged to help control illegal import of cement

LAHORE: The ‘smuggling’ of cement, tyres and tiles is at its peak and freely illegal import of these items into the country is damaging the local industry and causing huge loss to the national exchequer. Sources said that the local cement industry would be destroyed if this illicit practice was not stopped as the tyres and tiles industries had already ... Read More »

Importers lament theft incidents at PICT

KARACHI: Traders and importers have expressed their deepest concerns over growing theft incidents at the Pakistan International Containers Terminal (PICT) during last few months. Sources told Customs Today that traders and importers were of the view that these incidents are now testing their nerves as customs authorities were not taking any action. On the other hand, they said, delay in ... Read More »

2,000 containers supply ATT goods from Karachi ports

KARACHI: Pakistan is constantly losing its share of the Afghan Transit Trade (ATT), the primary beneficiary of which is Iran. There are no statistics available but it is estimated that Iran’s share in total Afghan Transit has increased to 70 percent while Pakistan’s share has declined to just 30 percent; a high placed official said while talking to Customs Today ... Read More »

Importers wary of smuggling via ATT, discriminatory valuation guidelines

  KARACHI: Importers have once again expressed deep concerns over significant decline in trade activities due to alleged discriminatory implementation of valuation guidelines. The importers of Karachi, while sharing their views with Customs Today, said that the shifting of trade from Karachi port to dry ports in other cities is continued due to a significant difference in the customs values of ... Read More »

Federations of Pak-Indian chambers join hands to enhance bilateral trade

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Federation of Indian Chambers and Commerce (FICCI) have signed an agreement to enhance bilateral trade between the two countries. The agreement was signed between both the representative bodies of traders on the sidelines of the Alishaan Pakistan Expo recently concluded in the Indian capital New Delhi. FPCCI Vice President ... Read More »

Chief Collector Nasir Masroor terms under-invoicing dilemma

KARACHI: Customs Chief Collector Appraisement-South Nasir Masroor Ahmed has said that the customs authorities issued valuation guidelines because principal appraisers and appraisers of the Pakistan Customs Services were not applying the customs values of commodities in proper way. He visited Karachi Chamber of Commerce and Industry (KCCI) on Wednesday. Collector MCC Appraisement-West Muhammad Saleem, Collector, MCC Appraisement-East Najeeb-ur-Rehman Abbasi, Collector ... Read More »

PTI, PAT marches: Punjab govt launches crackdown on crane owners

MULTAN: The Punjab government has started a crackdown on the cranes’ owners who had provided cranes to the Pakistan Tehreek-e-Insaf (PTI) and the Pakistan Awami Tehreek (PAT) on rent during their respective marches. As per details, the Punjab Police has started the crackdown on owners of cranes used for removing containers during marches after receiving the orders from the provincial ... Read More »

LHC disposes of petition by SM Foods seeking quashing of FIR

MULTAN: The Multan bench of the Lahore High Court (LHC) has disposed of a petition filed by Saim Mobeen Food Company in case of mis-declaration of imported goods from Austria. The quashing of the FIR filed by the Saim Mobeen Food Company in case of mis-declaration in the import of iron rods used in the baking of biscuits was disposed ... Read More »

FIA likely to grill customs officials for clearing pharma raw material

KARACHI: A team of the Federal Investigation Agency (FIA) Lahore is mulling over to visit Karachi for further investigating the case related to the clearance of pharmaceutical raw material in which 76 Customs officials involved. Sources informed Customs Today that a team headed by FIA Assistant Director Mian Asif, husband of slain MQM MNA Tahira Asif, may visit Karachi to ... Read More »

US asks 5 European countries to set up preclearance checkpoints

NEW YORK: The United States has asked five European countries to establish preclearance checkpoints at airports for customs and immigration. The advance checkpoints for foreign travel were recently available only in Canada, the Caribbean, Ireland and the United Arab Emirates. As per details, US has approached England, France, the Netherlands, Germany and Sweden about the set up without making a ... Read More »

Physical, mental health perquisite for nation’s efficiency: LCCI

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has organised a day-long seminar on “The Hidden Enemy” on Friday, in which a large number of people from different walks of life participated. LCCI Vice President Kashif Anwar and renowned Psychiatrist Dr GH Saqib Kalyani spoke on the occasion and marked the importance of physical and mental health. They pledged ... Read More »

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 »

Ex-CEO Hamdani owns TCS building

ISLAMABAD: The customs authorities have learnt that former TCS CEO Saqib Hamdani has the ownership of the main building of the TCS Express and Logistics Centre near Jinnah International Airport at Iqbal Avenue, Karachi. This revelation has opened new dimensions in the TCS and Smart Zone Company smuggling case that how a man hired as CEO could have the ownership ... Read More »

FBR to devolve powers to act against ‘black sheep’

ISLAMABAD: The Board in Council of the Federal Board of Revenue (FBR), on suggestion of Member Customs Nisar Muhammad Khan, has decided to give authority of institutional punitive measures to field formations, chief collectors and chief commissioners. After the said decision, heads of the field formations will be authorised to take action against corrupt officers on mismanagement and corruption. The ... Read More »

Bajwa directs tax officers to recover Rs 70 billion from SM Foods

MULTAN: The Federal Board of Revenue Chairman Tariq Bajwa has directed the subordinates to present the comprehensive report on Rs 70 billion tax evasion by a famous businessman of Multan City. As per details, FBR chairman asked regional tax officers of Multan to recover Rs 70 billion rupees tax from a businessman evaded in last two years. The accused Saim ... Read More »

LCCI polls: Anarkali traders support PIAF-Alliance

LAHORE: The traders of Anarkali and associated markets have announced to support PIAF-Founders Alliance candidates in the LCCI elections being held on September 22-23 in Lahore. The announcement was made by the President of Anjuman-e-Tajran Ashraf Bhatti during the visit of Alliance candidates to Anarkali Market. Alliance leaders, Sheikh Muhammad Asif, Sheikh Muhammad Arshad, Alliance candidates for Associate Class, Nasir ... Read More »

Import goods theft at Ports becoming severe: Muffasar Malik

KARACHI: Acting President of the Karachi Chamber of Commerce and Industry (KCCI), Muffasar Atta Malik has expressed deep concern over rising incidents pertaining to theft of imported goods during examination and clearance from all ports of Karachi city, which causes severe losses to importers. In a statement issued, acting president urged Ports and Shipping Ministry and Chairmen of all ports ... Read More »

PRA seeks audited copy of accounts from taxpayers

LAHORE: The Punjab Revenue Authority (PRA) has asked the registered persons and businesses in corporate sector to submit a copy of annual audited accounts along with tax payments’ propriety certificate from auditors. The authority said that the main provisions relating to maintenance and production of records for the purpose of Punjab sales tax are available under sections 31 and 32 ... Read More »

2000 containers used to restrain Imran, Qadri marches

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) Vice President Mian Tariq Misbah said that road blockade with containers may save the democracy but could subvert the economy. He said that delay in consignments has affected the business community, especially the small businessmen and industry. “If government has given the permission to the marches of Pakistan Tahreek-e-Insaf Chairman Imran khan ... Read More »