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Tag Archives: news

China offers zero tariff regimes on 95pc of trade with less developed nations

KUNMING: China’s Vice Prime Minister Wang Yang has expressed Chinese willingness to help the South Asian countries in the fields of energy, telecommunications and road infrastructure on build, operate & transfer basis and through public-private partnership by pursuing zero tariff regime on 95 per cent of trade for less-developed countries in South Asia. Wang Yang said this while addressing the ... Read More »

Fresh initiatives to be taken to boost economy: Khurram Dastgir

ISLAMABAD: Pakistan will undertake fresh trade initiatives with its regional and international trading partners to promote trade and boost economic growth in the country. Federal Commerce Minister Khurram Dastgir Khan said this in a meeting with officers of the commerce ministry academics and experts. The meeting was held to discuss the strategies for doubling Pakistani exports in the next few ... Read More »

FBR cautions its officials for bringing any influence

ISLAMABAD: FBR has caution its officials to refrain from bringing any superfluous influence, including political pressure, in respect of service matters such as transfers/postings/deputation and other related issues which in case shall be recognised as breach the Government Servants Conduct Rules as well as ‘Misconduct’. A notification issued in this regard stated, “It has been observed with great concern that ... Read More »

July-May: MCC Multan lags behind revenue target

MULTAN: Collector Model Customs Collectorate of Multan, Sarfraz Ahmad Waraich has revealed that the collectorate has recovered Rs 32,929 million against the ambitious target of Rs 43,274 million till May’s end. MCC Multan was Rs 10,345 million behind the target of eleven months of the current fiscal year. The above mentioned figure denotes the recovery of sales tax, withholding tax, ... Read More »

MCC Multan impounds vehicles, goods worth Rs163m

MULTAN: Anti-Smuggling Organization of Model Customs Collectorate of Multan has impounded smuggled goods worth Rs 163,749,000 in the outgoing fiscal year 2013-14. Anti smuggling operations were being conducted jointly by Customs Intelligence and Customs Collectorates as per orders from FBR, an initiative that was paying dividends. During the eleven months of Fiscal Year 2013-14, confiscated smuggled goods included 90 vehicles ... Read More »

Achieving revenue target in doldrums, FBR collects Rs1967b till June 6

ISLAMABAD: Even after revising the revenue target twice, it has become apparently an impossible task for Federal Board of Revenue to collect Rs2,275 billion by the end of the current fiscal year. The latest data availed by Customs Today revealed that until June 6, 2014, FBR had collected merely around 1,967 billion rupees. FBR authorities are now expecting that by ... Read More »

Sialkot dry port opens 24/7, Collector hails exporters’ enthusiasm for self help

SIALKOT: Model Customs Collectorate Sialkot Collector Qurban Ali Khan has said that an advanced 24/7 duty system has successfully been introduced at Sialkot Dry Port Trust, as the senior efficient officials of Customs, Anti Narcotics Force and Sialkot Dry Port have been performing round-the-clock duties there to lure the Sialkot exporters, importers and customs and cargo clearing agents while motivating ... Read More »

LCCI president meets Customs chief to enhance cooperation

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Sohail Lashari met central region’s Chief Collector of Customs Rozi Khan Burki in order to enhance mutual liaison between business community and Pakistan Customs. Both Lashari and Burki agreed to draw plan to facilitate importers and discourage menace of smuggling. Lashari demanded of Chief Collector to ensure complete facilitation for the ... Read More »

FBR clarifies its stance on issuance of SROs

ISLAMABAD: Certain quarters have raised doubts about the authority of the Federal Government regarding the issuance of notifications SROs 420(I)/2014, 421(I)/2014 and 422(I)/2014, all dated 04.06.2014 without approval of the Parliament. Federal Board of Revenue has issued a notification which states that it is clarified that the Federal Government has delegated powers to issue and withdraw notifications under the relevant ... Read More »

Tax evasion: R&D Section recovers over Rs17.7m in May

KARACHI: Research and Development (R&D) Section of Model Customs Collectorate of Appraisement-East has recovered an amount of Rs17,785,955 while detecting 12 cases of mis-declaration, non-application of valuation rulings, misuse of SROs and mis-declaration of PCT classification in the month of May, 2014. The R&D Section of MCC Appraisement-East has recovered an amount of Rs 188,473 on mis-declaration of value on ... Read More »

May ‘14: PRV section recovers Rs15m in 52 cases

KARACHI: Post Release Verification (PRV) Section of Model Customs Collectorate of Appraisement-West has recovered and collected an amount of Rs 15,274,629 while detecting 52 cases of tax-evasion, mis-declaration and under-invoicing in the month of May, 2014. The PRV Section has recovered an amount of Rs 305,274 from Goods Declaration (GD) no.89562; Rs 305,274 from GD no.90338, Rs 197,450 from GD ... Read More »

Customs intelligence impounds bulletproof car

LAHORE: Directorate of Intelligence and Investigation Lahore has confiscated a bulletproof car in the area of Defence Housing. According to details Customs Intelligence Lahore seized a bulletproof car worth Rs 12 million from Amir, a resident of Defence Housing. Customs sources said that the car was impounded after a chase. Official sources said that the department will be able to ... Read More »

Customs helps busting a gold smuggling gang in Bangladesh

DHAKA: Customs officials at Hazrat Shahjalal International Airport have seized 48 gold bars, apparently abandoned, from the cargo hold of a plane of the Biman Bangladesh Airlines. Customs officials said that they raided the aircraft around 3’o clock in the night after it landed from Dubai. The gold bars weigh 5.5 kg and are valued at 25 million Taka, officials ... Read More »

ANF seizes drugs, arrests three

RAWALPINDI: Anti Narcotics Force has arrested three drug smugglers from the airport and other areas of Rawalpindi. Muhammad Ibrahim, a resident of Mardan was arrested at Benazir Bhutto International Airport for attempting to smuggle heroin abroad. He was attempting to board a flight with heroin to Saudi Arabia. After being stopped by ANF officials, he confessed to having 94 heroin-filled ... Read More »

FBR discontinues performance allowances of 12 PCS officers

ISLAMABAD: Federal Board of Revenue has discontinued the performance allowance of twelve officers of Pakistan Customs Service due to their failure to comply with the Board’s repeated instructions circulated vide circular no.1 bearing C.no.1(4)/M(HRM)/2012 dated 23rd July 2012. FBR has issued a notification in this regard. The twelve officers are Riffat A Hassan Abidi (BS-20), Juneid Akram (BS-20), Syed Tanveer ... Read More »

Various changes made in customs act 1969

LAHORE: Various changes have been undertaken in the Customs Act, 1969 under Budget Customs Taxation. In section 2, clauses (k) and (m) have been merged in a single definition of ‘customs-station’ while in section 7, word ‘Central Excise’ is substituted with the word ‘Federal Excise’. In section 18, new subsection 1A is inserted to add the Fifth Schedule to the ... Read More »

Tax evasion, seizures: Customs adds Rs4.89b to national kitty in May’14

ISLAMABAD: Pakistan Customs and Directorate General of Intelligence and Investigation-Customs has identified billions of rupees for recovery from tax evaders and confiscated vast amount of smuggled goods while preventing huge losses to the national exchequer. During May, 2014 Pakistan Customs authorities have acted upon various cases of tax evasion worth over Rs 2.467 billion. Whereas, Customs Intelligence has confiscated goods ... Read More »

Customs duty on import of used vehicles up to 1800cc increased

ISLAMABAD: Customs duty on import of used vehicles has been increased up to ten per cent in the Budget 2014-15 as presented by the Finance Minister Ishaq Dar. The new rates of customs duty on the import of used vehicles as issued in the Finance Bill 2014-15 are increased from $ 4400 to $ 4800 on import of used vehicles ... Read More »

Budget in brief 2014 2015

Budget-20140-15

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Senior Customs officials critical of FBR management section

KARACHI: Some of the senior officers of Pakistan Customs have strongly criticised the management section of Federal Board of Revenue and demanded the FBR Chairman and Member Customs to take immediate notice of its incompetency and inefficiency. They were of the view that the management section of FBR was violating and ignoring the service rules and regulations and not following ... Read More »