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Tag Archives: R&D

Govt mulling over to hike duty on over 1,000 imported items

ISLAMABAD: The federal government is planning to levy additional regulatory duty on more than a thousand imported items to generate $1.12 billion, which will assist in reining in the trade deficit Sources said that the new proposal is being finalized by the State Bank of Pakistan, Finance Division, Ministry of Commerce and Textile and the Federal Board of Revenue (FBR). As ... Read More »

Appraisement-East writes to DC law branch about Rs 250m ZA Pharma tax evasion case

KARACHI: The Research and Development Section of Model Customs Collectorate MCC Appraisement-East has written a letter to Deputy Collector Law Branch regarding getting early dates from Sindh High Court into the hearing of Z A Pharma tax evasion case. According to details, the R&D Section has detected a tax evasion case against the importer Z A Pharma few months ago ... Read More »

Violation of FTA, SROs: Appraisement-East detects tax evasion of Rs20m in 25 days

KARACHI: The Research and Development (R&D) Section of Model Customs Collectorate MCC Appraisement-East has detected and recovered around Rs20million of tax evasion in different means including violation of FTA, valuation guideline, exemption of undue SROs, incorrect values of PCT, mis-declaration of classification and valuation rulings till today. According to details, the R&D team under the supervision of Collector MCC Appraisement-East ... Read More »

R&D registers FIR against Sundus Fertilizers, clearing agent

KARACHI: The Research and Development (R&D) Section of MCC Appraisement (East) has registered an FIR against owners, directors, partners of M/s Sundus Fertilizers & Chemicals Pakistan (Pvt) Ltd and M/s Al-Rehmat Trading, clearing agent against mis-declaration of description and value, as the importers tried to import Cartap Hydrochloride Tech 98 per cent min, B No 20140408 packed in 25 kgs ... Read More »

Govt asks civil servants to declare assets

ISLAMABAD: The Establishment Division has issued a circular to employees of all ministries and institutions asking them to declare their assets details. It is obligatory for all civil servants to declare their assets after the start of new fiscal year; however except from FBR, other employees of different ministries and institutions have not yet declared their assets despite passing more ... Read More »

Importers demand adequate seating arrangement in Appraisement-West

KARACHI: The importers and Customs agents have demanded proper seating arrangements in Model Customs Collectorate (MCC) Appraisement-West for the hearing of their cases. As per details, importers and customs agents have complained that they have to wait in long queues from morning to evening for the hearing of their cases as there was no proper seating arrangement in hearing halls. ... Read More »

Tug-of-war: FPCCI Office turns a battlefield among VPs

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Office has become battleground as clashes abrupt between companions of vice presidents and other officials on occupying the office room for vice president. A source told Customs Today that the main cause of the clashes was political nature as central leaders of FPCCI used the forum as political tool ... Read More »

Customs examines 725 containers in 3 days at KICT

KARACHI: The Pakistan Customs has examined record 725 containers in just three days from Sunday to Tuesday at Karachi International Containers Terminal (KICT). The KICT Assistant Collector Examination Usman Tariq, while talking to Customs Today lauded the efforts of customs officials on clearing 702 containers in three days at international terminal. He said that the Pakistan Customs has examined 259 ... Read More »

Halal Food Authority to boost exports to Middle East: Dastgir

ISLAMABAD: The Federal Minister for Commerce Engineer Khurram Dastgir Khan said that the draft for Pakistan Halal Food Authority has prepared by the Ministry of Science and Technology in consultation with Ministry of Commerce and other relevant institutions and will be presented to the Parliament soon. He said that approval of draft will resolve the issue of certification of Pakistani ... Read More »

Appraisement-East registers FIR against Cosmos Enterprises

KARACHI: The Research and Development (R&D) Section of Model Customs Collectorate (MCC) of Appraisement-East has registered an FIR against Cosmos Enterprises in its alleged involvement in tax evasion by clearing two consignments of miscellaneous goods from warehouse without paying the legitimate duty/taxes. The FBR sources informed Customs Today that the R&D Section of MCC Appraisement-East has nominated Abdullah, a clearing ... Read More »

Auditor General Pakistan starts expenditure audit of MCC Lahore

LAHORE: Auditor General of Pakistan (AGP) has started annual audit of expenditure of Model Customs Collectorate (MCC) Lahore. The AGP officials will conduct audit of expenditures of the MCC Lahore funds including petrol, maintenance of the vehicles expenditure, expenditures of the building, newspaper receipts, gas, electricity and waters bill. The audit officers of AGP office will complete audit report of ... Read More »

Customs Adjudication-I to issue 47 show-cause notices to fabric importers

KARACHI: The Collectorate of Customs Adjudication-I is going to issue 47 show-cause notices (SCNs) to fabric importers who involved in mis-declaration. According to details, the Office of the Collector, Collectorate of Customs Adjudication-I has to issue three show-cause notices to the importers and remaining show-cause notices to be issued by the offices of Additional Collector, Deputy Collector and Assistant Collector ... Read More »

Hyderabad Customs collects Rs 382.51m in July

KARACHI: The Model Customs of Collectorate (MCC) Hyderabad has collected an amount of Rs 382.51million in the month of July-2014 in share of Customs Duty (CD), Sales Tax, Federal Excise Duty (FED) and Withholding tax. According to details, the Hyderabad Collectorate has collected an amount of Rs 64.81 million in share of Customs Duty with the decrease of 56 per ... Read More »

MCC Export skips revenue target in July

KARACHI: The Model Customs Collectorate (MCC) of Export has failed to collect desirable revenue in July, first month of current fiscal year 2014-15. The FBR sources informed Customs Today that the MCC Exports had also missed revenue targets during the last fiscal year 2013-14 and now after claiming new efforts it missed the first month target of current fiscal year. ... Read More »

Customs to issue show-cause notices to fabric importers

KARACHI: The Collectorate of Customs Adjudication-I and II has been going to issue show-cause notices (SCNs) from the next week to the importers of textile fabric, involved in mis-declaration and tax evasion. The FBR sources informed Customs Today that the Collectorate of Customs Adjudication has prepared show-cause notices which will probably being issued to the parties from Tuesday. It further ... Read More »

FIR against appraiser: Customs I&I not on board with probing committee

KARACHI: The 6-member committee formed to investigate the aspects of First Information Report (FIR) lodged by the Directorate General of Customs Intelligence and Investigation against the appraiser Sarfaraz Bangash Zai in MCC Appraisement-West on his alleged involvement in clearing the consignments of oil by using unfair means, has yet to start its working due to absence of basic information of ... Read More »

IOCO issues 50 provisional certificates to importers

KARACHI: The Input-Output Co-efficient Organization (IOCO) has issued around 50 provisional certificates during a month, in which it allows the local importers to import raw material for manufacturing the products of local industries under concessionary regime with relaxation in customs duty related to the SRO 565(I)/2014. A FBR sources informed Customs Today that the list of the importers has yet ... Read More »

Karachi Customs Collectorates collect Rs 49.5 billion revenue in July

KARACHI: The Model Customs Collectorates (MCCs) of Appraisement-East, West and Port Qasim have collected Rs 49.5 billion revenue in first month of current fiscal year. As per details, the Model Customs Collectorate (MCC) of Appraisement-East has collected total revenue of Rs 13457 million in the first month of FY2014-15 in share of customs duty, sales tax, income tax and federal ... 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 »