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Tag Archives: STRN

FBR to re-devise sales tax registration system

ISLAMABAD: The Federal Board of Revenue is in process of re-devising system of sales tax registration to clear backlog of pending applications, seeking new Sales Tax Registration Numbers (STRNs). Sources told Customs Today that a meeting was held by FBR officials to discuss sales tax registration. FBR Member IR Operations, Member IT CEO Pakistan Revenue Automation Limited (PRAL), Chief IR ... Read More »

Govt seeks parliament nod to give market access to India

ISLAMABAD: The federal government has decided to forward Non-Discriminatory Market Access (NDMA) – a term coined after Most Favoured Nation (MFN) status for India, to parliament for approval to normalise trade ties with India. The decision was taken after lack of understanding between inner opposition and stakeholders. As per details, the government is waiting for end to sit-ins so that ... 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 »

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 »

FBR assesses legal provisions of budget 2014-15

ISLAMABAD: The Federal Board of Revenue (FBR) has started discussions on impacts of legal provisions presented in the budget for FY 2014-15. Government introduces legal provisions in the federal budget to facilitate FBR to meet the revenue collection target every year and then a process of review of impacts of legal provisions also continues throughout the year. A meeting in ... Read More »

Customs issues valuation ruling of Methylene Chloride

KARACHI: The Directorate General of Customs Valuation has issued the Customs values of Methylene Chloride through Valuation Ruling No.679/2014 under Section 25-A of the Customs Act, 1969. The said Valuation Ruling has superseded the previous Valuation Ruling No.629 regarding the Customs values of Methylene Chloride. According to the details, the Customs values of Methylene Chloride having PCT Code 2903.1200 and ... Read More »

CHS vows relief efforts till IDPs back at home

LAHORE: Customs Health Society (CHS) President Dr. Asif Mehmood Jah assured that relief efforts for IDPs will continue until every IDP back at home at North Waziristan. He mentioned that the CHS has also dug out Thirty five (35) water wells in Tharparkar area of Sindh for provision of clean drinking water to more than 50,000 people of the area. ... Read More »

Customs I&I will hold auction on Wednesday

Multan: Multan Customs Intelligence and Investigation (I&I) will hold public auction of seized goods on Wednesday July 23. According to Customs Intelligence and Investigation the auction of seized goods will be held on Wednesday at Customs Intelligence and Investigation (I&I) office near Khanewal road. The Customs authorities were expecting handsome revenue from the auction, which is one of the main ... Read More »

Tight inspection: FBR to launch electronic monitoring system

ISLAMABAD: Federal Board of Revenue has decided to introduce electronic monitoring system SEMP to void the tax theft at manufacturing level. As per a FBR source the project of SEMP has been in preliminary stage and FBR will hire a private company who would start a pilot project very soon to implement it practically. FBR authorities were of the view ... Read More »

ANF recovers 17kg drugs, arrests 4

ISLAMABAD: Anti Narcotics Force seized 17 kg of drugs and arrested 4 culprits during its raids at airport, highways and bus stands. As per details, ANF has conducted raids in Islamabad, Faisalabad and Lahore and recovered 17kg capsules filled with charas and heroine. ANF also arrested 4 culprits and confiscated their vehicle. At main motorway tool plaza Lahore ANF, on ... Read More »