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Tag Archives: post clearance audit

DG Lutfullah Virk takes strict notice of staff absence

ISLAMABAD: Lutfullah Virk, the director general of customs intelligence and investigation, Islamabad, has taken serious notice of the absence and late coming of employees due to current political situation in the capital and warned them of stern action if they didn’t attend the office in time. The director general has also decided to install a bio-metric system in the office ... Read More »

Maneka, Customs officials for removing ATT, WeBOC hurdles

KARACHI: A meeting was held to discuss transit trade and review the progress of the reconciliation of consignments moving from Karachi ports to border points of the Pakistan Customs in Peshawar and Quetta. Director General of Transit Trade (TT) Khawar Farid Maneka presided the meeting which was attended by the additional director Karachi, deputy director TT processing Karachi, deputy director ... Read More »

Excise Department issues notices to recover luxury tax in Gujranwala

SIALKOT: The Excise and Taxation Department has issued notices to 170 owners of luxury houses in Gujranwala division to recover Rs 70 million as luxury tax. The Punjab government has recently levied luxury tax under the ratio of Rs 125,000 per kanal as property, including the posh localities of the cantonment boards. Director Excise and Taxation Ashiq Hussain Shah said ... Read More »

Govt urged to reap benefits of GSP Plus status

SIALKOT: The Sialkot Dry Port Trust (SDPT) chairman has urged the government ensure early implementation of the rules and regulations to protect environment, eradicate child labour and eliminate corruption under GSP Plus status granted by the European Union (EU) to reap full benefits of the status. Addressing an awareness seminar here, he said that early implementation of GSP Plus rules ... Read More »

Closing: Karachi stocks show 8.75 points increase on Thursday

KARACHI: The Karachi Stocks Exchange 100-index gained only 8.75 points on Thursday to reach 29604.30 mark as political standoff still prevails in Islamabad. The KSE 100-index opened at 29523.78 and total trade volume remained 128,676,320 shares. The highest increase witnessed in price of Fauji Cement, Telecard Limited, Jah sidd Company and Engro Corporation while the Unilever Pakistan, Siemens Pakistan, Shield ... Read More »

Political crisis amid inflation

The warning bells are ringing from all sides amid political crisis in Islamabad. The whole world is watching developments in Pakistan and friendly countries like China and the United States are looking the events with concern. The Indian prime minister, who is spitting venom against Pakistan since his Bharatiya Janata Party has come to power,is also worried about the situation ... Read More »

Vehicle amnesty scheme: FBR seeks reply from Collector Wasif Memon

KARACHI: Federal Board of Revenue (FBR) Customs Tariff-III Secretary Syed Ali Zaman Gardezi has asked the Collector of Customs (Inquiry Officer) Dr Wasif Ali Memon to submit his written reply against the impugned charge-sheet C 9 (2) /2014-M.I in connection with the illegal import of 119 vehicles under the amnesty scheme. As per details, the FBR has requested for attested ... Read More »

Bajwa to visit Multan RTO on Friday

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa will visit Multan Regional Tax Office (RTO) on September 5 (Friday) to review the field formation operations and tax collection efforts. As per details, the FBR chairman and member Inland Revenue Muhammad Ashraf Khan will visit Multan RTO on Friday to discuss the strategy to achieve the revenue target for current fiscal ... Read More »

ONO issued against Water Link in NATO goods pilferage case

KARACHI: Ahmed Mujtaba Memon, the Collector of Customs Adjudication-I, has issued Order-in-Original (ONO) against Water Link Pakistan (Private) Limited. The ONO was also against Water link Pakistan Managing Director Ghulam Mustafa, manager, assistant manager (operations) Karachi Port Trust, broker of New Ittehad Shanwari, supervisor of Water Link, owner of confiscated vehicle, drivers, Ehsanuddin and Company (Private) Limited, Fayyaz Hussain of ... Read More »

Customs seizes smuggled goods from The Mall

LAHORE: The Anti-Smuggling Cell of the Model Customs Collectorate (MCC) Lahore has confiscated smuggled goods worth Rs 3 million in a raid on The Mall. Sources told Customs Today that the anti-smuggling unit seized 260 dish receivers, 15 LEDs and mobile accessories on The Mall near GPO in Lahore.   Read More »

FBR exceeds revenue target for August by Rs 3 billion

ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the monthly revenue collection target of Rs 180 billion for August 2014 as it collected over Rs 183 billion during the month. Official data obtained by Customs Today showed that the FBR has provisionally collected over Rs 183 billion during August 2014 against assigned monthly revenue collection target of Rs 180 billion with ... Read More »

Telenor terms allegations of tax evasion by customs baseless

KARACHI: Telenor Pakistan Director Corporate Communications and Responsibility Atifa Asghar, in response to the allegations of tax evasion, said that Telenor Pakistan was a law-abiding and responsible corporate entity, and that it always met its legal and ethical obligations. “The allegation of tax evasion is misconceived and incorrect,” she told Customs Today. “It is a matter of different interpretations and ... Read More »

PIA, Shaheen Air, Air Blue tax scam case: SHC summons attorney general

KARACHI: The Sindh High Court (SHC) has summoned Salman Aslam Butt, the attorney general of Pakistan, to seek his perspective over the sales tax dispute between Pakistan International Airlines (PIA) and the Pakistan Customs. The reliable sources confirmed Customs Today that the SHC has asked the attorney general to present before the court on Wednesday (today) and clear the government ... Read More »

Appraisement-East collects Rs 19.24b in August

KARACHI: The Model Customs Collectorate (MCC) of Appraisement-East has collected Rs 19.24 billion in August with an increase of Rs 5.78 billion as compare to the Rs 13.45 billion collected in July under the heads of customs duty, sales tax, withholding tax and federal excise duty. According to statistics, the MCC-Appraisement-East has collected Rs 5.24 billion customs duty in August ... Read More »

Multan Customs collects Rs 14.92b in August

MULTAN: Multan Customs Collectorate has collected Rs 14.92 billion in August for FY 2014-15. The Anti-Smuggling Organisation has registered 15 cases in August 2014 which includes seven cases of vehicles and eight cases of contraband items, collecting Rs 7.26 million duty on the seized items. The Multan Customs also uncovered alleged tax evasion by Q Mobile smart phones company worth ... Read More »

SBP financing for small exporters

The State Bank of Pakistan (SBP) has spelled out various incentives for small exporters, providing refinancing facility to Small and Medium Enterprises (SMEs) under the Export Finance Scheme.The SBP move is aimed at to fulfill the financing needs of exporters and to promote the exports of the country. The SBP took this decision after noting that most of the banks ... Read More »

Turkey invites Pakistani businessmen to attend Istanbul Jewelry Show

KARACHI: A delegation of the Turkish Jewelry Association (TJA), comprising Oguz Ozdemir, and Evindar Akcan, has visited the Karachi Chamber of Commerce and Industry (KCCI). The delegation invited the KCCI members to visit Istanbul Jewelry Show which will provide a perfect opportunity to the Pakistani manufacturers and exporters to introduce their products in Turkish market. As per details, Murat Mustu, ... Read More »

3,000 members to cast vote for KCAA election

KARACHI: Around 3,000 members of the Karachi Customs Agents Association (KCAA) will cast their votes at auditorium on September 25 to elect a 20-member managing committee, including the president and the general secretary. As per details, the annual general elections of the KCAA for the term 2014-15 will be held on September 25. The voting will be held from 9am ... Read More »

Closing: Bulls regain control of KSE with 766 points stride

KARACHI: The Karachi Stock Exchange’s benchmark KSE-100 on Tuesday consolidated its upward march and gained 766.55 points to reach 29260.29, defying the prevailing bleak political scenario triggered by the ongoing sit-ins and subsequent police-protesters clashes at Red Zone in the federal capital. Despite gloom and doom prevailed across the political spectrum, the KSE-100 index, opened at 28493, recovered from overnight ... Read More »

Islamabad Customs initiates investigation into Telenor case

ISLAMABAD: The Federal Board of Revenue Directorate General of Customs Intelligence and Investigation has started investigations into telecommunication service provider, Telenor, on mis-declaration in import of telecommunication equipment. Sources told Customs Today that Customs I&I has started reviewing goods declaration forms by the company in this regard. “Customs Intelligence initiated investigation on request of the Karachi Customs into the mis-declaration ... Read More »