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Author Archives: Mahmood Idrees

ADC Mirza Mubashir Baig assumes charge as Director OPS at Customs Valuation Lahore

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LAHORE: Two officers of grade BS-19 and BS-17 assumed their charge here at Directorate of Customs Valuation Lahore and Directorate of Intelligence and Investigation (I&I) Lahore respectively. PCS/BS-19 Additional Director, Directorate of IPR Enforcement Lahore Mirza Mubashir Baig has relinquished his charge of the post and assumed the charge of Director (OPS) at Directorate of Customs Valuation Lahore in pursuance ... Read More »

Beauty parlor owners oppose increase in duty over make-up products

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LAHORE: Ladies beauty parlor owners and Eunuchs have urged government to draw back the imposition of Regulatory Duty (RD) on make-up products. Talking to Customs Today, a ladies beauty parlor owner Tarab Hamid said that government might be against the make-up of the women as it has imposed 10 percent RD on lipsticks, eye liners, face powder and other beauty ... Read More »

$13.13 billion trade deficit: Pakistan exports show negative trend of 3.69% in July-Jan

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LAHORE: Shortage of energy has affected the exports. The trade deficit of Pakistan remained 13.13 billion dollars as it was 11.13 billion dollars during corresponding period of last fiscal year. Pakistan trade deficit increased up to 19.76 percent during July-January of current fiscal year while it was 13.76 percent in last fiscal year. As per detail, Pakistan exports showed negative ... Read More »

Traders, public unhappy over 5pc increase in regulatory duty on luxury items

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LAHORE: Economic Coordination Committee has imposed regulatory duty on luxury items. According to the statement of ECC “International prices of luxury items, like packaged foodstuff, chocolates, cosmetics and electric appliances etc. are showing a declining trend, negatively affecting the revenue of the government. These items are not of daily use, and are purchased by high-end consumers. For bringing more equity ... Read More »

Officers of only grade-17 or above given authority to issue property tax notices

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LAHORE: The government of Punjab has restrained the Excise and Taxation inspectors to issue any kind of property tax notices to taxpayers’ and gave authority to the officers of grade-17 or above to issue the notices. The government has taken this step in the wake of complaints lodged by taxpayers’ about the overbilling of property taxes allegedly by excise inspectors. ... Read More »

Customs tribunal appoints Imran Ahmad as Member Technical after two years

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LAHORE: The customs tribunal has appointed member technical Imran Ahmad after two years. The orders of appointment were issued six months ago but the member could not take charge as he was attending the training courses. The sources revealed that officers avoid getting appointment here at tribunal due to lack of facilities. The customs tribunal has not been providing security ... Read More »

Officers of only grade-17 or above given authority to issue property tax notices

138-day-Tax-rule

LAHORE: The government of Punjab has restrained the Excise and Taxation inspectors to issue any kind of property tax notices to taxpayers’ and gave authority to the officers of grade-17 or above to issue the notices. The government has taken this step in the wake of complaints lodged by taxpayers’ about the overbilling of property taxes allegedly by excise inspectors. ... Read More »

Customs tribunal appoints member technical after two years

TECHNOLOGY STOCK

LAHORE: The customs tribunal has appointed member technical Imran Ahmad after two years. The orders of appointment were issued six months ago but the member could not take charge as he was attending the training courses. The sources revealed that officers avoid getting appointment here at tribunal due to lack of facilities. The customs tribunal has not been providing security ... Read More »

FBR revises revenue target by Rs 135 billion for FY 2014-15

Editorial

LAHORE: Federal Board of Revenue revised the revenue target for current fiscal year 2014-15 as the department is facing shortfall in revenue collection. Sources informed Customs Today that FBR has decreased the revenue target by almost Rs 135 billion for current fiscal year. Sources said Rs 2810 billion was set as target for the continuous fiscal year which was Rs ... Read More »

LHC rejects appeal against imposition of tax on biometric registration of SIMs

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LAHORE: The Lahore High Court has discarded the application against the collection of Rs 10 as tax for the biometric registration of SIM cards. As per detail, Applicant said before the honorable court that Pakistan Telecommunication Authority has imposed tax on the biometric registration of SIM cards that is illegal. He said it was the duty of telecom companies to ... Read More »

Rangers plan separate route for cargo vehicles at Wagah Border

Wagah border

LAHORE: Punjab Rangers has handed over the trading route at Wagah Border to the National Logistic Company. NLC has started the maintenance work of the road to make it functional for cargo vehicles. The suggestion regarding the separate trade route was under observation after the suicide attack here at Wagah border Lahore that caused killing of Pakistani citizens. Sources said ... Read More »

LHC rejects appeal against imposition of Rs10 tax on biometric registration of SIMs

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LAHORE: Lahore High Court has rejected an application, challenging the collection of Rs 10 as tax for the biometric registration of SIM cards. As per detail, Applicant Iffat Chaudhry said before the honorable court that Pakistan Telecommunication Authority has imposed tax of Rs 10 over the biometric registration of the every SIM card that is illegal. He said it was ... Read More »

Lahore: Excise takes action against 70 token tax defaulters

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LAHORE: The Excise and Taxation has seized documents of 70 token tax defaulter vehicles. A team consisting Inspector and constables of motor branch arranged a check post here at G.T Road Lahore near University of Engineering and Technology to check the documents of vehicles. Sources said that papers of 70 vehicles have been seized. They added that tax defaulters could ... Read More »

Pakistan bears loss of Rs 27 billion per year due to illegal trade of cigarettes

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LAHORE: Pakistan exported tobacco of Rs 697 million during July-December 2014 which is Rs 3.60 million less than the corresponding period of 2013. As per statistics, Pakistan had exported tobacco worth Rs 723 million during July-December 2013 while during current fiscal year tobacco sector is facing shortfall in exports. On the other hand, Tobacco Board Chairman Farid Ulllah Kahn has ... Read More »

TDAP invites traders to showcase Pakistani products in UK, Saudi, Kenyan, German exhibitions

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LAHORE: In a bid to introduce Pakistani products to international buyers, the Trade Development Authority of Pakistan (TDAP) has invited applications from the country’s traders to showcase their products in various exhibitions around the world, including Safety and Health Expo in UK, Riyadh Health Expo in Saudi Arabia, 11th Trade Show in Kenya and Anuga Exhibition in Germany. The traders ... Read More »

432 exhibitors reserve 92pc space at 9th edition of Expo Pakistan 2015 starting from Feb 26

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KARACHI: Almost 92 percent space has been reserved by renowned brands to participate in the 9th edition of Expo Pakistan 2015 starting from February, 26 at Expo Center Karachi. As per detail, almost 432 exhibitors have reserved the space in the said fair from textile, agro food, engineering, home decor, handicrafts, chemicals, leather, surgical, sports goods, services, minerals and metals, ... Read More »

Tanners Association meets FBR officials at Regional Tax Office in Lahore

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LAHORE: Pakistan Tanners Association (PTA) has urged Federal Board of Revenue to issue the refunds of leather industry on emergency basis. Sources said a delegation of PTA members met with the authorities of Regional Tax Offices Lahore to settle the matter. PTA presented its reservations about the refund cases before the authorities and asked to resolve the matter for saving ... Read More »

Telecom companies to earn millions from biometric registration of SIM cards

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LAHORE: Pakistan Telecommunication companies are collecting millions of rupees from biometric registration of SIM cards as ten rupees are being taken per registration. After the Peshawar Army School attack, government has declared it mandatory to confirm the biometric registration of all SIM card users before the February 26 to counter terrorism. A security official said, unregistered or fake registered SIM ... Read More »

Customs clears consignments worth Rs 1.38 billion through WeBOC at LFU

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LAHORE: Pakistan customs has shifted the clearance of soya bean consignments over Weboc. According to available data, customs gave clearance of soya bean consignments worth Rs 9.0,923,313 million over Weboc during December 2014, the last month. Authorities said that new software replaced with old version in multi stages to facilitate the traders and clearing agents. They said after the soya ... Read More »

RTO-II achieves 98 percent target up to January 2015

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LAHORE: The Federal Board of Revenue (FBR) Regional Tax office II Lahore has achieved almost 98 percent of required target Rs 35499 million during June-January for current fiscal year 2014-15. The RTO-II had estimated to collect Rs 35499 million from June 2014 to January 2015. As per provisional statistics, it has collected almost 34791 million that was nearly two percent ... Read More »