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Maersk sets target for 2020 of 60% emission intensity reduction

COPENHAGEN: The world’s largest container ship operator, Maersk Line, has announced a target to significantly reduce emissions produced per container moved. Maersk LineMaersk Line plans to cut emissions per container moved by 60% by 2020 as part of a five year plan to reduce greenhouse gas emissions by 200 million tonnes of CO2e. The amount of emission reduction envisaged is ... Read More »

Poland target to achieve PLN 1.45b revenue from metal tax

WARSAW: Treasury Minister Zdzislaw Gawlik said in the lower house that the Polish government is considering some revision of its metals tax with analytically works at the Finance and Treasury Ministries underway, deputy. Poland’s copper giant KGHM is the main contributor of the tax. This year Poland targets PLN 1.45 billion from the tax versus PLN 1.86 billion raised in ... Read More »

Poland target to achieve PLN 1.45b revenue from metal tax

WARSAW: Treasury Minister Zdzislaw Gawlik said in the lower house that the Polish government is considering some revision of its metals tax with analytically works at the Finance and Treasury Ministries underway, deputy. Poland’s copper giant KGHM is the main contributor of the tax. This year Poland targets PLN 1.45 billion from the tax versus PLN 1.86 billion raised in ... Read More »

Poland’s sets target a growth of 36% by 2020

WARSAW: The volume of Polish exports increased by 2,069 percent throughout the last 25 years, in the next five years it is to rise by 35.6 percent, on average 5.2 percent per year, Grant Thornton estimated in a report. Polish firms will sell more outside Europe, and less to the EU. In 2014, Polish products were sold in 218 countries, ... Read More »

China’s next target to snap up 67% of Greece Port

ATHENS: The Greece government’s control over their major port is about to end. As part of Syriza’s deal last month with the IMF, European Commission and the European Central Bank to repay about €240 billion that Greece borrowed back in 2010, Tsipras is compelled to leave Piraeus Port up for sale. For China, that is excellent news, since its state-run ... Read More »

Punjab Excise collects Rs 13.88 billion in 8 months

LAHORE: The Punjab Excise and Taxation Department has collected Rs 13.88 billion taxes ,61 percent of the set target in eight months (July-February) for the current fiscal year of 2014-15. As per available statistics, the department has achieved 61 percent of the set target for current year that is 10 percent more than the collections of the corresponding period of ... Read More »

Philippines Customs collects P739.33m in 2014, new policies set to meet target in 2015

MANILA: Philippines Bureau of Custom (BOC) collected P739.33 million representing proceeds from auctions of seized shipments of mostly smuggled rice in 2014 and also set new policies to meet the target in 2015. At a news conference late last month, Customs Commissioner John Phillip P. Sevilla reviewed the Bureau of Custom’s (BOC) performance in 2014, noting, in particular, that the ... Read More »

Shanghai International Port brings in $1.08 billion investment in Singapore

SINGAPORE: The profit of $1.08 bn that has been made by Shanghai International Port (Group) Co (SIPG) has made Singapore retain the title of being the busiest port of the world. Shanghai-listed SIPG posted a profit of RMB6.68bn ($1.08bn), a jump of 27% compared to RMB5.26bn in the previous financial year. Revenue inched up by 1.9% year-on-year to RMB28.7bn. SIPG ... Read More »

FBR in pursuit of Rs2810b achieves Rs750b in Oct up from Rs661b, records 17% growth

ISLAMABAD: Federal Board of Revenue (FBR), in pursuit of Rs2810 billion target, has collected Rs750 billion during July-October this year against Rs661 billion in corresponding period of 2013-14. Sources said that during July to October 2014, FBR collected Rs265 billion as direct taxes, Rs355 billion as sales tax, Rs47 billion as federal excise duty and Rs86 billion customs duty. During ... Read More »

FBR unlikely to meet Rs2.81tr revenue collection target

ISLAMABAD: Federal Board of Revenue unlikely to meet the Rs2.81 trillion target as the growth of tax collection during the current fiscal year remained 15pc, which is below the required growth of 24pc. Sources said that the government has to take extra revenue generation measures after huge shortfall of first quarter and owing to effects of floods on economic activities ... Read More »

FBR fixes Rs196b revenue target for Oct, Rs677b for 2nd quarter

ISLAMABAD: To achieve the annual revenue target of Rs2,810 billion, Federal Board of Revenue (FBR) has announced maximum targets for October as well as for second quarter (Oct-Dec) of financial year 2014. Sources said that FBR has fixed Rs196.4 billion revenue collection target for the month of October, while target for second quarter has been fixed at Rs676.9 billion. FBR ... Read More »

FBR raises large taxpayer unit’s target by 30pc

LAHORE: The Large Taxpayer Unit (LTU) of the Federal Board of Revenue (FBR) has been assigned 30 percent more revenue target for September this year than the last year’s collections of Rs 15.03 billion during the same period. Sources told Customs today that the FBR has assigned Rs 19.497 billion tax collection target to LTU for September this year, which ... Read More »

FBR sets Rs 252 billion revenue target for September

ISLAMABAD: The Federal Board of Revenue (FBR) has set an ambitious target of Rs 252 billion for September, sources said. According to official sources, the tax collection target for the first quarter (July and September) of the ongoing fiscal year is Rs 569 billion. Sources said that the FBR has achieved the tax collection targets of the first two months, ... Read More »

FBR asks govt to reduce revenue target of Rs2810b

Islamabad: FBR officials have proposed federal government to review its Rs2810 billion revenue target and asked to decrease it to Rs 2700 billion for fiscal year 2014-15. An official source told Customs Today that even Government has yet not replied in this regard but agreed to cut down the revenue target. Top officials from FBR made it clear to the ... Read More »

An uphill task

The government has revised downward its overall fiscal framework in view of expected revenue shortfall faced by the Federal Board of Revenue (FBR) during the current fiscal year. In a crystal clear objective under the stringent IMF conditionalities, the main focus of the government is maintaining the budget deficit within the agreed limit with the Fund as both sides are ... Read More »