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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

Customs Court awards imprisonment to suspect booked in smuggled mobile phones case

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KARACHI: Customs Court Judge Syed Faiz Rasool Rashdi has awarded 14 days imprisonment and Rs 200,000 fine to a suspect, Muhammad Kashif, on pleading guilty. The suspect was booked while he was attempting to non-duty paid contraband mobile phones, smart watches etc from Dubai by Flydubai Airlines flight no FZ-331. During the hearing, counsel for the accused filed an application ... Read More »

SHC issued notices to tax authorities over charging of sales tax on services

SHC

KARACHI: The Sindh High Court (SHC) has issued notices to the attorney general and the advocate generals of all provinces, including Islamabad, high officials of the Federal Board of Revenue, Sindh Revenue Board and others, directing them to assist the court in respect of a controversy relating to charging of sales tax on services in more than one provinces, particularly ... Read More »

Customs Port Qasim lodges FIR against M/s M.R. Furns for tax evasion, mis-declaration

saeed-akram

KARACHI: Model Customs Collectorate Port Qasim has detected illegal clearance of consignment of iron scrap  and launched a case against the importer. According to sources M/s M .R.Furns imported 12 containers of iron scrap through mis-declaration and under-invoicing, causing loss of Rs4 million to national kitty. Sources said that Collector Port Qasim Saeed Akram received a tip-off that M/s M.R. ... Read More »

Mis-deliration: Customs Appraisement West lodges FIA against auto parts importer

Collector Appraisement (west) Shahnaz Maqbool

KARACHI: Customs Appraisement West has lodged an FIR against M/s Ayan Enterprises in a mis-declaration case. Shahnaz Maqbool’s Appraisement West lodged the FIR against the said company for attempting to clear auto parts in the guise of machinery/fork lifter parts to evade taxes. The company imported a consignment declared to contain BGF brand hydraulic cylinders for automotive vehicles and brake/wheel/clutch ... Read More »

FBR asks banks to share details of suspicious transaction

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KARACHI: The Federal Board of Revenue (FBR) has asked the banks to give details of suspicious transactions, including foreign trade, detected under anti-money laundering laws. According to the official sources, the revenue authority took the step to curb increasing tax evasion. “State Bank of Pakistan (SBP) and Securities and Exchange Commission of Pakistan (SECP) have already agreed, under the national ... Read More »

IR intelligence wing to take action against oil marketing firm over misuse of GDs

FBR

KARACHI: The Directorate of Intelligence and Investigation Inland Revenue (IR), Karachi has decided to legal action against an oil and marketing company for non-payment of sales tax and misusing goods declarations. The Inland Revenue’s intelligence wing will take action against the company after endorsement by Large Taxpayer Unit (LTU), Lahore. The mentioned oil and marketing company (OMC) has not been ... Read More »

Customs Court awards 15 days imprisonment to suspect booked in smuggling case

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KARACHI: Customs Taxation and Anti-Smuggling Court Judge Syed Faiz Rasool Rashdi awarded 15 days imprisonment and Rs 200, 000 fine to a suspect, Waqas Siddiqui, who was booked in a case of mobile phones smuggling. During the hearing, counsel for the both sides completed their final arguments and after the arguments, the court announced it order and observed that “keeping ... Read More »

SHC restrains tax dept from recovery of Rs27m from Regus MT Khan Centre

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KARACHI: The Sindh High Court (SHC) restrained the tax department from recovery of Rs27million from Regus MT Khan Centre Karachi Private Limited. The recovery of demand notice was issued by Additional Commissioner Inland Revenue Audit Range-A, Zone-V, Corporate Regional Tax Office. While hearing the petition, a two-member bench, headed by Justice Aqeel Ahmed Abbasi, also issued notices to the tax ... Read More »

SHC suspends demand notice on petition filed by M/s Master Management

SHC

KARACHI: The Sindh High Court (SHC) has suspended an impugned demand notice for recovery of Rs 4,431,000 in respect of income tax from the petitioner until the next date of hearing. The court took this action on a constitutional petition filed by M/s Master Management (Private) Limited against demand notice issued by the deputy commissioner Inland Revenue Unit-II Corporate Regional ... Read More »

Customs abolishes port congestion charges

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KARACHI: Pakistan Customs has decided to abolish port congestion charges and ordered shipping lines and carriers to immediately withdraw the fee. The shipping lines and carriers were charging $150 per 20 TEU (Twenty-foot Equivalent Unit) and $300 per 40 TEU as port congestion from March 2017. After raising the issue by the All Pakistan Shipping Association (ASPA) and its other ... Read More »

Excise Police recover 55kg charas, arrest two accused

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KARACHI: The Sukkur Excise Police have recovered 55-kilogram charas in two different raids and arrested two accused and impounded two vehicles as well. In first raid, a team of excise police led by excise officer Ali Gul Wassan searched a truck bearing no AE-1069 at Nangreja Kumb Nawabshah Road and recovered 15 kilogram charas, said a statement on Friday.  The ... Read More »

DG Valuation revises customs value of lead acid batteries

DG Valuation

KARACHI: The Directorate General of Customs Valuation revised the customs value of lead acid batteries through Valuation Ruling No 1111/2017 under Section 25A of the Customs Act, 1969. Earlier, Customs values of lead acid batteries were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.723/2015, dated 03-03-2015 read with Corrigendum dated 18-03-2015. The Valuation Ruling required ... Read More »

DG Valuation revises customs value of waist belts

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KARACHI: The Directorate General of Customs Valuation revised the customs value of waist belts (artificial leather low-end brands) through Valuation Ruling No 1110/2017 under Section 25A of the Customs Act, 1969. The Customs values of waist belts (artificial leather low-end brands) were circulated vide VDB letter No.148 dated 23.02.2016. It was deemed expedient to issue a Valuation Ruling; hence, an ... Read More »

DG Valuation revises customs value of key chain, parts

key chain, parts

KARACHI: The Directorate General of Customs Valuation revised the customs value of key chain and their parts for low end/unpopular brands through Valuation Ruling No 1109/2017 under Section 25A of the Customs Act, 1969. Earlier the Directorate General conducted an audit of clearance values of subject goods and found the same to be on lower side in comparison with the ... Read More »

DG Valuation revises customs value of stainless steel cutlery set

stainless steel cutlery set

KARACHI: The Directorate General of Customs Valuation revised the customs value of stainless steel cutlery set (low end/unpopular brands) Chinese origin through Valuation Ruling No 1108/2017 under Section 25A of the Customs Act, 1969. Earlier the Directorate General conducted an audit of clearance values of subject goods and found the same to be on lower side in comparison with the ... Read More »

DG Valuation revises customs value of imported pop-corn

DG Valuation

KARACHI: The Directorate General of Customs Valuation revised the customs value of imported pop-corn through Valuation Ruling No 1107/2017 under Section 25A of the Customs Act, 1969. According to details, the Directorate General earlier conducted an audit of clearance values of subject goods and during the course of perusal of import clearance data, it was observed that imported pop-corn were ... Read More »

DG Valuation revises customs value of yogurt and pudding

yogurt and pudding

KARACHI: The Directorate General of Customs Valuation revised the customs value of yogurt (fruit/flavored) and pudding/dessert through Valuation Ruling No 1106/2017 under Section 25A of the Customs Act, 1969. According to details, the Directorate General earlier conducted an audit of the clearance values of imported yogurt and pudding and in comparison with international trading prices and the local market selling ... Read More »

DG Valuation revises customs value of I.V. cannula, I.V. catheter

I.V. cannula, I.V. catheter

KARACHI: The Directorate General of Customs Valuation revised the customs value of I.V. cannula/ I.V. catheter through Valuation Ruling No 1105/2017 under Section 25A of the Customs Act, 1969. According to details, the customs values of I.V. cannula/ I.V. catheter were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling Nos.894/2016, dated 29-07-2016. Some importers approached the ... Read More »

Customs foils bid to smuggle over Rs5m at Karachi airport

Jinnah International Airport

KARACHI: The Customs authorities at Jinnah International Airport have foiled a money-laundering bid and arrested two women for attempting to smuggle more than Rs5 million in foreign currency to Dubai. According to a Customs Preventive Force (CPF) spokesperson Mohammad Irfan, the two women were attempting to smuggle 120,000 Saudi Riyals, 50,000 Emirati Dirhams and 500,000 Japanese Yen, which were recovered ... Read More »

Sindh collected Rs225m professional tax during 8 months

tax-evasion

KARACHI: The Sindh government collected Rs225 million in professional tax during the eight months (July-February) with a six per cent growth. The number of commercial units paying professional tax in Karachi increased by 2,944, or 0.8pc, to 373,529 as compared to a year earlier. The excise and taxation department collected Rs5.5m in arrears from private limited companies, who pay a ... Read More »