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Home / Author Archives: Saleem Jadon (page 21)

Author Archives: Saleem Jadon

Transparency Int’l urges FBR to verify tax returns of VIPs

Transparency Int’l

ISLAMABAD: Transparency International Pakistan (TIP) has urged Federal Board of Revenue (FBR) to check the source of income of as many as 155 VIPs including parliamentarians, as per their income tax returns pertaining to tax years 2008, 2009, 2010, 2011 and 2012. In a letter written to FBR Chairman Tariq Bajwa, the TIP has asked the Board to verify the ... Read More »

Paapam flays FBR for stuck up sales tax adjustments

Sales_Tax

LAHORE: Pakistan Association of Automotive Parts Accessories Manufacturers’ (Paapam) Chairman Munir K Bana has said that billions of rupees of the industries have been stuck up, as the electronic system of Federal Board of Revenue (FBR) disallowed input tax adjustments of provincial sales tax in Sales Tax Returns for the month of August 2013. The Paapam chairman in a statement ... Read More »

FBR to transfer BS 16-19 officers

FBR2

ISLAMABAD: Federal Board of Revenue (FBR) has issued orders to the field formations to transfer all tax officers from BS 16 to 19 who are working in the same position against a specific post for the last three years. As per the FBR’s instructions, the same procedure of transfers may be followed in the area of relevant jurisdiction for implementation ... Read More »

Food exports increased 10pc in July, August

Food export

LAHORE: Food exports from the country during first two months of current financial year swelled up by 10.17 per cent and recorded at $ 682.712 million as compared to the same period of last year. During the period from July-August 2013, different food commodities worth $ 682.712 million were exported which were recorded at $ 619.96 million in same period ... Read More »

Textile exports up 7.24pc in two months

Taxtile industry1

LAHORE: The textile exports from the country increased by 7.24 per cent during the first two months of current fiscal year against the exports of same period of last year. On year-on-year basis, textile exports during August 2013 increased by 3.42 per cent as compared to the exports of August 2012. The overall textile exports during July-August (2012-13) were recorded ... Read More »

KCCI wants more Chinese investments in uplift projects

KCCI_CRESTCHINACG

KARACHI: Karachi Chamber of Commerce & Industry (KCCI) President Muhammad Haroon Agar has said that Pakistan and China can do wonders through collective economic and commercial activities. Exchanging views with Consul General of China Excellency Mr Ma Yaou during his visit to KCCI, Haroon Agar urged fresh Chinese investment in energy, infrastructure, metro-railways, mass-transit and dams building projects which are ... Read More »

MCC Lahore seizes illegal goods worth Rs9.7m

steel sheet coils

LAHORE: Anti-smuggling unit of Model Customs Collectorate (MCC) Lahore has confiscated illegal goods worth Rs9.7 million. As per details, anti smuggling unit Inspector Sikandar Bajwa, acting on a tip-off, raided on two trucks loaded with 50 tons of steel sheet coils being transported from Misri Shah to a local trader’s godwon. The inspector confiscated the illegal coil sheets worth Rs7.5 million ... Read More »

MCC-East to hold auctions of impounded commodities on Sept 25-26

Impounded vehicles

KARACHI: Pakistan Customs has decided to hold auctions of the impounded vehicles and other commodities including shed lights, fire brakes, chemicals, tyre cuttings, scrape, papers and aluminium fillings under the supervision of Model Customs Collectorate (MCC)-East. According to a notification issued by the East Wharf Deputy Collector, the auctions will be held on two consecutive days at Pak Shaheen on ... Read More »

Pakistan beats India in direct tax collection

direct-tax-collections-b2

ISLAMABAD: A comparison of direct tax collection of Pakistan and India shows that the FBR observed a growth of 44.1pc in July to September 2013 as compared to Indian tax authorities’ performance that witnessed 12.5 per cent increase in direct taxes collection during the same period. The experts explained that in Pakistan, Rs101.840 billion were collected under the head of ... Read More »

FBR to appoint law expert

FBR1

ISLAMABAD: The Federal Board of Revenue (FBR) is going to hire a fiscal law consultant for direct interaction with National Accountability Bureau (NAB), Federal Investigation Agency (FIA), Federal Tax Ombudsman (FTO) and ministries to deal with the legal issues. The appointment of law expert was approved in the FBR’s Board-in-Council meeting as the Board is facing numerous legal challenges i.e. ... Read More »

Huge quantity of non-duty paid cigarettes seized in Lahore

cigarette2

LAHORE: The FBR’s Directorate General (Intelligence and Investigation – Inland Revenue) has recovered a huge quantity of counterfeit and non-duty paid cigarettes from various godowns in Lahore. Acting on a tip-off, the FBR’s I&I department raided several godowns in Pan Mandi, New Anarkali and seized huge quantity of counterfeit/non duty paid Pine and other cigarettes brands. To conduct operation, the ... Read More »

FBR obtains info of luxury vehicles to identify taxpayers

vehicles

KARACHI: To collect maximum income tax returns, the FBR has obtained data of around half million luxurious motor vehicles, official sources said. The Federal Board of Revenue (FBR) is categorising the data of about 450,000 vehicles – registered with the Karachi Motor Vehicle Registration Authority during the last three years – by capacity-wise and will compare with the returns filed ... Read More »

LHC turns down Progressive Group’s petition

Judgement

LAHORE: The Lahore High Court (LHC) has turned down a Progressive Group’s writ petition against placement of the names in candidates list and directed the complainant to contest the upcoming LCCI elections as per the list of candidates already published and put on the website by the Lahore Chamber of Commerce & Industry. As per details, the Progressive Group has ... Read More »

LHC quashes FIRs against 350 industrial units

LHC

LAHORE: A division bench of the Lahore High Court has quashed all the FIRs registered against more than 350 industrial units and also stayed criminal proceedings initiated by the Sales Tax Department. The bench held that the registration of cases and criminal proceedings against industrial units by the department were illegal and void as it had taken this action without ... Read More »

FPCCI urges govt to enter into public-private partnership

FPCCI2

LAHORE: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Regional Chairman Azhar Saeed Butt has asked the government to enter into public-private partnership with the Chinese and other companies of the world to overcome energy shortage in the country. He was talking to the delegates and representatives of multinational and national companies which are going to showcase their products ... Read More »

Customs registers FIR against trader over illegally importing silver

Silver jewllary

LAHORE: The Customs authorities have registered an FIR against a Hall Road trader who was illegally importing 15kg silver jewellery from Singapore, sources said. According to the sources, Model Customs Collectorate’s I&P Department booked the trader at the Allama Iqbal Airport for not declaring the quantity of silver jewellery. Read More »

Businessmen of Kasur support PIAF-Founder Alliance in LCCI elections

Voting7

LAHORE: Business community of Kasur has announced its support for PIAF-Founders Alliance for the LCCI elections being held on September 23, 24. Businessmen leader Hafiz Munir Ahmad announced this at a massive gathering of traders at a reception in honour of PIAF-Founders Alliance candidates including Sohail Lashari, Khawaja Khawar Rasheed, Talha Tayyab, Raja Hamid Riaz, Rizwan Ali Khalid, and Muhammad ... Read More »

OICCI urges FBR to release Rs46 billion in refunds

Money

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) have asked the Federal Board of Revenue (FBR) to release refunds worth Rs46 billion causing cash flow and productivity problems. The FBR officials and OICCI members, in a meeting held last week, discussed the problems faced by the foreign investors. The OICCI’s members urged the FBR officials to make the ... Read More »

Pakistan, Turkey sign 12 agreements/MoUs

Nawaz Sharif1

ISLAMABAD: Pakistan and Turkey have signed 12 agreements/Memorandum of Understandings (MoUs) during the successful visit of Prime Minister Nawaz Sahrif to the contiguous transcontinental country. Foreign Office spokesman Aizaz Ahmad Chaudhry, while briefing the media about PM’s visit to Turkey from September 16-18, 2013, said that the premier discussed the issues of regional and international importance as well as of ... Read More »

Indonesian Customs foils attempts to smuggle rattan

OLYMPUS DIGITAL CAMERA

JAKARTA: The Tanjung Priok Customs and Excise Agency has foiled an attempt to illegally export five containers of rattan worth Rp 549.91 million (US$49,201) to China. The agency’s head, Bahaduri Wijayanta said that the agency seized the containers during an inspection at the Jakarta International Container Terminal (JICT) in Tanjung Priok, North Jakarta. The confiscated rattan was of a type ... Read More »