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Tag Archives: property tax

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 »

FBR Chairman Bajwa chairs board-in-council meeting today

ISLAMABAD: The Federal Board of Revenue (FBR) has changed the time for board-in-council meeting to 2:30pm which was scheduled at 11am on Wednesday. As per details, FBR Chairman Tariq Bajwa will preside the meeting in which policy decisions about audit policy will be taken. FBR Member Inland Revenue Policy Shahid Asad, Member Inland Revenue Muhammad Ashraf Khan, Member Admin Shahid Hussain Jatoi, ... Read More »

Gujranwala Chamber rejects 10-15pc increase in property tax

SIALKOT: The Gujranwala Chamber of Commerce and Industry (GCCI) has strongly rejected 10 to 15 percent increase in the property tax by Excise and Taxation Department. GCCI President Sheikh Nauman Salahuddin strongly criticised the Punjab government for the increase, saying the increase will be unbearable for the business community as well as the general public. He demanded the government immediately ... Read More »

People urged to avail 5pc rebate on property tax

MULTAN: Multan Excise and Taxation (E&T) Director Ahmad Saeed has advised the people to avail five percent rebate on the payment of property tax until September 30. He said that the department was focusing on the property tax collections, claiming that the department registered 14 percent increase in collection of taxes in July 2014, against the corresponding month of last ... Read More »

Gujranwala E&T to recover Rs1.6b

SIALKOT: The Excise and Taxation Department have started special campaign to recover Rs1.6 billion from the tax defaulters across Gujranwala division. As per details, 70 teams of Excise and Taxation Department have started recovery in Sialkot, Narowal, Gujrat, Mandi Bahauddin, Hafizabad and Gujranwala districts. A senior official told Customs Today that the department will recover Rs14.3 million as excise duty, Rs87.5 million as ... 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 »

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 »

ANF arrests 3 drug peddlers, including two women

LAHORE: Lahore Anti Narcotics Force (ANF) has arrested three drug smugglers including two women at Niazi Bus Stand, Lahore. According to the details, ANF Lahore has arrested 3 drug peddlers Saeeda, Yasmeen and their male accomplice Rahim Sher, all residents of district Sawabi and recovered 5 kg heroin from their possession. They were arrested in an operation conducted at Niazi ... 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 »