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Tag Archives: Valuation Ruling

Comparing cost of renting a house in DHA, Karachi and Lahore

LAHORE (AZKA NAEEM): Defence Housing Authority (DHA) has been the top investment choice among known property investors of Karachi and Lahore. Overseas Pakistanis consider DHA a prime investment option because of hassle-free property transfer mechanism and investment security offered by Defence Housing Authority. When it comes to comparing return on property investments made in different localities of Karachi and Lahore, ... Read More »

Hyderabad Customs reluctant to fill vacant seats

HYDERABAD: Hyderabad Customs has failed to appoint new officers on many vacant seats tax officers even after passing 40 days. Also new appointed officers have yet not assigned duties and they are confused about their authority. On the other hand, taxpayers were also facing difficulties regarding submission of their tax returns and other tax related operations because the shortage 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 »

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 »

MCC Sialkot’s efforts increase exports 17.1%: Qurban Ali

SIALKOT: Collector of Customs Sialkot Qurban Ali Khan while talking to Customs Today said that exports from Sialkot region has increased about 17.1 percent during FY 2013-14 due to provision of advance facilities and rapid clearance of consignments by Model Customs Collectorate. He said that volume of exports from Sialkot Dry Port Trust (SDPT) and Sialkot International Airport has increased ... Read More »

Senate seeks FIA to report on tax evasion in oil import

ISLAMABAD:Senate Standing Committee on Planning and Development has asked Director General Federal Investigation Agency to submit a report on adulterated oil import and tax evasion during those imports. Federal Investigation Authority (FIA) likely to be given charge of examination of adulterated oil and of investigations in possible tax evasion by oil importers. As per details, Director General FIA would brief ... Read More »

FBR, PTA to keep record of imported mobiles

ISLAMABAD: Federal Board of Revenue has decided to take necessary steps as per the instructions of honourable Supreme Court in its verdict about illegal import of mobile phones and their use in terrorism activities. As per details, FBR with collaboration of Pakistan Tele-communication Authority (PTA) has decided start to maintain a record of every single mobile phone imported to Pakistan. ... Read More »

Committee formed to probe allegations against appraising officer

KARACHI: The Appraising Officials Association of Pakistan Customs in its meeting at customs house has decided to form a committee in order to probe the real aspects behind registering an FIR against an appraising officer by the Directorate General of Customs Intelligence and Investigation I&I. According to details, a committee comprising Shaheen Farooqui, Javed Akhtar, Mir Mansoor, Dost Muhammad and ... Read More »

Customs seizes 39 tons of iron sheets worth Rs5m

LAHORE: Customs anti-smuggling unit seized 39 tons of iron sheets worth Rs 5 million in a raid near Multan Road. A Source informed Customs Today that the iron sheet was being sold in local market when anti-smuggling unit caught the culprits as iron sheet were smuggled without paying Rs 3 million duty. Moreover, he added that iron sheets were coming ... 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 »

TCS smuggling scandal: Court extends bail of Hamdani, Shakirullah

ISLAMABAD: Customs court has extended anticipatory bail granted to TCS Chief Executive Saqib Hamdani and Smart Zone Company’s owner Shakirullah till August 6th. Both were accused of allegedly involved in smuggling of contrabands undercover of Afghan transit trade. On the other hand, Customs Intelligence Deputy Director Shahid Jan has decided to broadened investigation circle to other workers of The Courier ... Read More »

Multan Customs I&I seizes smuggled cloth

MULTAN: Multan Customs Intelligence and Investigation (I&I) has seized two trucks loaded with imported cloth near Khanewal toll plaza here on the other day. As per details, Haji Sadiq Achakzai was attempting to smuggle two trucks loaded with imported cloths. Additional Director Customs I&I Nisar Ahmad on tip of informer has taken action and with his special team members Sheikh ... Read More »

DTRE scheme: Customs to recover millions from Lucky Cement

KARACHI: The Federal Board of Revenue (FBR) has asked Pakistan Customs to recover tax worth millions of rupees from M/s Lucky Cement Limited as company found guilty of tax evasion in duty and tax remission for exports (DTRE) research report. The sources informed Customs Today that the FBR authorities during the DTRE research study had observed that facility granted to ... Read More »

FBR starts tax collection on property transfer

SIALKOT: Federal Board of Revenue (FBR) have started collection of withholding tax on the transfer of the property of Rs.3 million or above in all all six districts Sialkot, Narowal, Gujrat, Mandi Bahaud Din, Hafizabad and of Gujranwala region. A officials told Customs Today that the FBR had already asked the Punjab government to ensure the collection of withholding tax ... Read More »

Customs Lower Employees warn of protest after Eid

KARACHI: The Pakistan Customs Lower Employees Association has decided to stage protest demonstration after Eid-ul-Fitr for the fulfillment of their legal demands. According to the details, General Secretary Aftab Hussain Shah Hamdani informed Customs Today that the lower employees association with the consent of all its members has decided to stage protest after Eid. The demands of Pakistan Customs Lower ... Read More »