Wednesday , July 8 2020
Breaking News
Home / Tag Archives: National Tax Number

Tag Archives: National Tax Number

SBP’s guidelines to improve controls in payment instruments

KARACHI: State Bank of Pakistan (SBP), keeping inherent operational risks in processing, cancellation and issuance of payment in view, has issued guidelines to banks and micro-finance banks (MFBs) for strengthening internal controls in payment instruments. As per the CPD circular, the SBP has decided that henceforth the banks/MFBs shall strictly observe the following controls, in addition to those already in ... Read More »

Court issues non-bailable warrants for arms smuggler

KARACHI: The Customs and Taxation Court Special Judge Soofia Latif issued non-bailable warrants for Javed Sami, accused of smuggling arms and ammunition at Jinnah International Airport Karachi last month. Sami was caught with arms and ammunition in his personal baggage and remanded to FIA custody. Sources informed Customs Today that customs has recovered 25 parts of pistol and 97 magazines from ... 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 »

China Customs to enhance efforts against infringement through mail

BEIJING: China Customs in a notice has said that they were trying to intensify efforts against the infringement activities carried out through using the express mail service. The Customs Intellectual Property Rights enforcement has set the target to end the infringement in the latter half of the year 2014. As per details, administration of Customs has issued a notice a ... 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 »

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 »

Slow economies affecting major ports, says Shanghai Shipping Institute

SHANGHAI: Ports around the world overall saw weak performance in the second quarter of 2014 due to less trade to and from emerging markets in Asia, according to the Shanghai International Shipping Institute. The report stated that developed economies, particularly the US, have kept a steady recovery, emerging economies in Asia, however, facing headwinds. “Container at large Chinese ports rose ... Read More »

Hong Kong Customs warns youth against drug abuse

HONG KONG: The Hong Kong Customs has expressed concerns over increase in use of young people to smuggle illegal drugs over the border into the city. Calvin Chan Ching-yuen, head of customs’ drug investigation group’, said that there was a disturbing increase in the number of arrests of young drug peddlers at border checkpoints in last few months. “Drug peddlers ... 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 »

Job undone: Dar to face IMF next week

ISLAMABAD: Pakistan’s economic team lead by Finance Minister Ishaq Dar is likely to face criticism by International Monetary Fund (IMF) in Dubai next week on its failure to broaden the tax base in last fiscal year. A source from FBR told Customs Today that the talks with the IMF going to begin next week in Dubai and economic team may ... Read More »

Govt to re-shuffle FBR’s top officials

KARACHI: The federal government has been mulling over to reshuffle the top bureaucracy of Pakistan Customs, Inland Revenue Services (IRS), Regional Tax Offices (RTOs) and Directorate General of Customs Intelligence and Investigation. A source told Customs Today that the changes would be on cards at chief collector, collector and commissioner and director level. He said that the federal government was ... 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 »