Quantcast
Sunday , February 19 2017
Breaking News
Home / International Customs

International Customs

Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Polish GDP growth in 2017 may exceed 3.5% year on year: deputy PM

GDP growth

WARSAW: Poland may enjoy over 3.5% year on year GDP growth in 2017, thanks to a clear acceleration in investments, still strong consumption and public spending as well as rising exports, deputy PM, Finance and Development Minister Mateusz Morawiecki told public. “We will attain growth perhaps even exceeding 3.5%,” Morawiecki said for public news channel TVP Info of 2017 prospects. ... Read More »

Portugal charges Angola vice-president with corruption and money laundering

Portugal charges vice-president of Angola with corruption and money laundering

LISBON: Portuguese state prosecutors charged the vice-president of Angola, its former colony, with corruption and money laundering. A statement from the Prosecutor General’s office in Lisbon Thursday said that Manuel Vicente paid a bribe of €760,000 ($810,000) to a Portuguese prosecutor who was investigating previous allegations of corruption against him. Vicente has been the deputy of Angola’s President Jose Eduardo ... Read More »

Oman govt withdraws customs duty on bank notes

customs1

MUSCAT: A new customs duty of 0.5 per cent on bank notes imported by exchange houses and banks was withdrawn by the government within four days of introducing the same, after money exchanges submitted a memorandum to the Central Bank of Oman (CBO). Hamoud Sangour Al Zadjali, executive president of the Central Bank of Oman, told the Times of Oman ... Read More »

Customs officers in Sasabe find pot hidden inside firewood

us2

WASHINGTON: US Customs and Border Protection officers at the Port of Sasabe arrested a Tucson man Wednesday for attempting to smuggle more than 100 pounds of marijuana worth an estimated $53,000 hidden inside mesquite logs. After a CBP drug dog alerted to a Ford truck driven by the 41-year-old man, officers found the drugs hidden within a shipment of mesquite ... Read More »

Vietnam moves towards a digital economy

Vietnam moves towards a digital economy

HANOI: Vietnam is moving forward in reducing cash transactions and formalizing electronic payment methods. Deputy Prime Minister Vuong Dinh Hue signed a plan that ensures that the country has the infrastructure and equipment that it needs to progress toward a cashless economy by 2020. Focus areas that the government is pushing toward cashless payments include supermarkets, shopping malls, and distributors. ... Read More »

Ukraine, US signs treaty to improve application of FATCA

Ukraine, US signs treaty to improve application of FATCA

KIEV: The Minister of Finance of Ukraine and the US Ambassador to Ukraine signed a treaty to improve the application of tax rules and provisions of the US Foreign Account Tax Compliance (the Treaty). The Treaty is based on the Model 1B Intergovernmental Agreement as reported by the Ministry of Finance of Ukraine. The US Foreign Account Tax Compliance (FATCA), ... Read More »

OECD recommends Italy to enhance tax compliance

OECD recommends Italy to enhance tax compliance

ROME: The OECD said Italy should limit its fiscal plans to those measures that would not inhibit improved economic growth. In its 2017 Economic Survey for the country, the OECD said that Italy should look to measures to enhance tax compliance and introduce real estate taxes. The OECD noted that the Government “is committed to fiscal sustainability and continues to ... Read More »

Indonesia & China agrees to increase economic partnerships

China Indonesia

JAKARTA: Indonesia and China will continue to increase and expand economic partnerships, particularly in investment and trade, the Foreign Ministry said in a statement. Indonesian Foreign Minister Retno Marsudi and her Chinese counterpart Wang Yi met on the sidelines of the G20 meeting in Bonn, Germany, to discuss the expansion of partnerships between the two nations as part of a ... Read More »

Banks worry over sudden bad loan spike in January

loan

ATHENS: Nonperforming loans last month posted a major spike of almost 1 billion euros, reversing the downward course set in the last few months of 2016. This has generated major concerns among local lenders regarding the achievement of targets for reducing bad loans, as agreed with the Single Supervisory Mechanism (SSM) of the European Central Bank for the first quarter ... Read More »

Denmark, Azerbaijan signs convention to avoid double taxation & tax evasion

Denmark, Azerbaijan signs convention to avoid double taxation & tax evasion

COPENHAGEN: Denmark and Azerbaijan have signed the convention on avoidance of double taxation and prevention of tax evasion on income taxes. The document was signed by Azerbaijani Minister of Taxes Fazil Mammadov and his Danish counterpart Karsten Lauritzen. Mammadov said that the document will contribute to the development of trade relations between the two countries. Karsten Lauritzen noted that the ... Read More »

Belgium & UAE discuss ways to strengthen trade ties

Belgium & UAE discuss ways to strengthen trade ties

ABU DHABI: Belgian secretary of state for foreign trade Pieter De Crem and UAE’s minister of economy Sultan bin Saeed Al Mansouri held a round of discussions in the UAE to find ways to boost cooperation between the countries. The focus was on small and medium-sized enterprises and innovation. Al Mansouri welcomed the progressive ties between the UAE and Belgium, ... Read More »

New Zealand, Australia Prime Ministers discuss free trade

New Zealand, Australia Prime Ministers discuss free trade

WELLINGTON: New Zealand Prime Minister Bill English and his Australian counterpart Malcolm Turnbull cemented their commitment in trans-Tasman leader meetings in Queenstown during the last two days. Before returning to Australia after his brief 23-hour trip, Turnbull said one of the intentions of the TPP was to continue to grow it. “So from New Zealand and Australia’s point of view ... Read More »

Brazil keen to develop trade relations with Pakistan: Claudio Lins

Brazil Pakistan Flags

LAHORE: Brazil’s Ambassador Claudio Lins said that Brazil is keen to strengthen government-to-government and private-to-private sector relations with Pakistan in larger interest of the both countries. While talking to the Lahore Chamber of Commerce and Industry (LCCI) Acting President Muhammad Nasir Hameed Khan, he said that Brazilian economy is on the rise therefore Pakistani businessmen should utilise the available opportunities ... Read More »

Indian Customs arrests gold smuggler at Indira Gandhi International Airport

Indiacustoms

NEW DEHLI: Indian Customs arrested a man and seized gold medallions worth around Rs2.2 million from him at the Indira Gandhi International Airport (IGIA). The passenger, a resident of Srinagar, was intercepted after his arrival from Abu Dhabi. A detailed personal search of the passenger resulted in the recovery of one hundred medallions weighing 800 grams, the Customs said in ... Read More »

Royal Jordanian & Turkish Airlines Technic Inc. seals agreement

Royal Jordanian & Turkish Airlines Technic Inc. seals agreement

AMMAN: Royal Jordanian and Turkish Airlines Technic, Inc. sealed an agreement, whereby RJ will receive Line Replaceable Units (LRU) components pool support and spares for V2500 engines installed on RJ’s A320 family aircraft. The services and spares that will be provided within the framework of the agreement will be based in Turkish Technic’s Istanbul base and supply stations throughout the ... Read More »

Philippine electronics exports regaining strength

Philippine electronics exports regaining strength

MANILA: After finishing flat in 2016, Philippine electronics exports are seen regaining their strength this year. Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) president Dan Lachica said the group is maintaining its five to six percent growth forecast for electronics exports for 2017 despite a disappointing finish last year. “2016 was an off year,” Lachica said, referring ... Read More »

Thailand, Sri Lanka all set to sign FTA this year

Thailand, Sri Lanka all set to sign FTA this year

BANGKOK: Thailand and Sri Lanka are set to sign a free trade agreement (FTA) later this year, aiming to triple bilateral trade to US$1.5 billion (52.5 billion baht) over the next five years. Deputy Prime Minister Somkid Jatusripitak, who met with Malik Samarawickrama, Sri Lanka’s Development Strategies and International Trade Minister, said the two countries aimed to sign the FTA ... Read More »

ING Groep NV receives €14.00 target price by Credit Suisse

ING Groep NV receives €14.00 target price by Credit Suisse

AMSTERDAM: ING Groep NV received a €14.00 ($15.05) target price from stock analysts at Credit Suisse Group in a note issued to investors on Monday. The firm presently has a “neutral” rating on the stock. Other research analysts also recently issued reports about the stock. J P Morgan Chase & Co set a €14.30 ($15.38) price target on shares of ... Read More »

South Korean court declares Hanjin Shipping bankrupt

South Korean court declares Hanjin Shipping bankrupt

SEOUL: Hanjin Shipping, which used to be one of the world’s top 10 shipping companies, was declared bankrupt by a South Korean court after months of uncertainty. Hanjin’s collapse has hit the industry had sending shock waves throughout. For years, the global economic downturn had affected profits across the cargo shipping industry. It led to overcapacity, lower freight rates and ... Read More »

German organic food market keep growing

German organic food market keep growing

BERLIN: Organic food is growing more in Germany than in most countries, sales total only 5 percent of the nation’s groceries market. About 95 percent of the food sold in Germany in a single day – as measured by retail sales value – isn’t organic. That’s despite the fact that total organic food sales in Germany have been growing steadily ... Read More »