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Three Inland Revenue officers of BS 19-21 transferred

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ISLAMABAD: Federal Board of Revenue has transferred/posted six Inland Revenue Service officers of BS 19-21 with immediate effect and until further orders. Dr. Muhammad Akram Khan (BS-21) has been transferred from the post of Commissioner-IR, (City Zone-II) Regional Tax Office, Faisalabad and posted as Member, Federal Board of Revenue (HQ), Islamabad. Muhammad Abid (BS-20) has been transferred from the post ... Read More »

PSX goes bearish till midday

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KARACHI: The Pakistan Stock Exchange became bearish till midday and shed 69 points to drop to 49759 points level on Thursday. Earlier, the stocks opened bullish and gained 20 points to reach 49847 points level in early trading. On Thursday, the stocks showed recovery led by banking and auto stocks amid strong quarter-end earnings announcements at PSX. Volatile session was ... Read More »

Customs DGTR trains 500 partakers of various associations, Lahore chamber

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Trained individuals are playing vital role in handling WeBOC, other customs related matters effectively: Kanwal Ali  LAHORE: As many as 500 participants from various associations and Lahore Chamber of Commerce and Industry have been trained and the same are playing vital role in handling WeBOC system efficiently in real time besides dealing with various other customs related matters effectively These ... Read More »

Port Qasim Authority to hire maritime pilot boat to facilitate importers, exporters

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KARACHI: Port Qasim Authority is going to hire a maritime pilot boat to accelerate it operations in order to facilitate importers and exporters. According to sources of Customs Today at Operation and Maintenance, Port Qasim Authority has sought bids from local, experienced and stable firms for the pilot boat which will conduct the voyage on 18 knots. The offering companies ... Read More »

NA body advises FBR to consult stakeholders for revival of value-added textile industry

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ISLAMABAD: The Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatization of the National Assembly has directed the Federal Board of Revenue to resolve the matter pertaining to Phthalate Anhydride (PA), Di-Octyle Phthalate and Alkyd Resin in consultation with the Stakeholders. The meeting was held in the Committee Parliament House Islamabad under the Chairmanship of Qaiser Ahmed Shaikh, MNA. ... Read More »

Waziristan businessmen for opening of Ghulam Khan Route to earn profit

Afghan people queue up at the border town of Chaman near the
Pakistan-Afghanistan border October 25, 2003. Pakistan has increased
security along its border with Afghanistan as part of its
counter-terrorism measures. New posts have been set up to stop
infiltration of Taliban and al Qaeda militants. REUTERS/Mian KhursheedMK/GM

PESHAWAR: The exporters and traders from North Waziristan Agency have demanded the revival of trade and economic activities on Ghulam Khan Route to ease their financial hardships as they are being subjected to huge financial losses due to prolonged closure of this transit route. Speaking at a news conference on Wednesday, Chairman Traders Community (importers and exporters) from NWA, Haji ... Read More »

Pakistan, Bulgaria sign avoidance of double taxation treaty

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ISLAMABAD: Pakistan and Bulgaria have signed the agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income (ADTA) after the conclusion of second round of negotiations here. The initiating ceremony was overseen by Federal Board of Revenue (FBR) Chairman Dr Muhammad Irshad and Ambassador of Bulgaria to Pakistan Roumen Pirontchev, a press statement ... Read More »

DG I & I-IR receives host of suspicious transaction reports from Financial Management Unit

An employee checks U.S. dollar bank-notes at a bank in Hanoi, Vietnam August 12, 2015.  Vietnam has widened the trading band for interbank dollar/dong transactions to 2 percent from 1 percent previously to help boost the competitiveness of Vietnamese goods, the central bank said on Wednesday. REUTERS/Kham - RTX1O0Q4

ISLAMABAD: The Directorate General Intelligence and Investigation Inland Revenue has received reports from the Financial Management Unit (FMU) Karachi on a host of suspicious transactions. After receiving the reports, Director General Intelligence and Investigation IR Kh Tanveer Ahmad has informed Federal Board of Revenue Chairman Dr Muhammad Irshad that a dedicated unit would be established within the I&I inland revenue ... Read More »

PRA to bring more than 100 beauty saloons under BIMS

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LAHORE: After the successful roll-out of RIMS (Restaurant Invoice Monitoring System), Punjab Revenue Authority (PRA) has now developed Beauty Parlours Invoice Monitoring System (BIMS) which has been done in collaboration with the Punjab Information Technology Board. To increase revenue of the department PRA has listed more than one hundred famous beauty saloons that are located in posh areas of the ... Read More »

Appraisement West foils bid to evade taxes worth Rs15m by M/s FAS Enterprises

Appraisement West foils bid to evade taxes worth Rs15m by M s FAS Enterprises copy

KARACHI: Customs Collectorate Appraisement West thwarted a bid to evade taxes worth Rs15 million. According to sources collector Appraisement West received credible information about some attempts of mis-declaration. He directed appraising team to enhance checking of consignments. He checking the team reassessment of already cleared container number XMM 4-6153787 and container number MAGU-5690011. Both containers’ imported by one company namely ... Read More »

Govt grants tax exemption on import of Vitamin A capsules

Bangladesh frozen food exporters seek tax cut in upcoming budget

ISLAMABAD: Prime Minister Nawaz Sharif has given the final approval of tax concession on the import of Vitamin A capsules in the country. Tax concession on the import of Vitamin A capsules will be available for three years. Sources told Customs Today that to meet the supply and demand of the Vitamin A capsules currently UNICEF is importing these capsules. ... Read More »

Customs Intelligence detains non duty paid BMW from Chinese citizen

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ISLAMABAD: Directorate General Customs Intelligence and Investigation Federal Board of Revenue special car cell has detained a non duty paid BMW car Model 2004 value Rs 5.3 million. According to the sources on tip off, staff of special car cell intercepted a non duty paid BMW car bearing Islamabad registration No. ICT MF 763, at sector F-8, Islamabad, from the ... Read More »

FBR likely to announce amnesty scheme for foreign assets holders

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ISLAMABAD: In bid to broaden tax net in the country, Federal Board of Revenue (FBR) is likely to announce an amnesty scheme for Pakistanis to declare their foreign assets by paying a nominal tax. This was revealed by FBR Chairman Dr Muhammad Irshad during the National Assembly Standing Committee on Finance and Revenue meeting held under the chairmanship of its ... Read More »

IHC directs parties to submit record on plea filed by Pakistan Tobacco Company Ltd

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ISLAMABAD: A division bench of Islamabad High Court directed parties to submit record on the case filed by M/s Pakistan Tobacco Company Limited.  The bench, comprising Justice Aamer Farooq and Justice Miangul Hassan Aurangzeb heard the case. M/s Pakistan Tobacco Company Limited had filed the reference in which the company had challenged a show cause notice issued by the Large ... Read More »

Peshawar customs impounds five NDP vehicles at exit points

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PESHAWAR: The Intelligence & Special Checking Squad of the Model Customs Collectorate Peshawar has impounded five non-duty-paid vehicles the other day at the exit points of Peshawar. The sources told Customs Today the squad, comprising Inspectors Said Zaman, Muhammad Ayaz and other Customs staff, have seized five NDP vehicles during a routine checking. The vehicles of different brands have different ... Read More »

FBR’s field offices to remain open on April 29 for revenue collection

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ISLAMABAD: Federal Board of Revenue (FBR) has directed all field offices of Inland Revenue to observe Saturday, April 29, 2017 as normal working day for collection of duty and taxes. In a directive, all the chief commissioners of Large Taxpayers Units, Regional Tax Offices and Corporate Regional Tax Offices have been directed that all the field offices would remain open ... Read More »

Customs court directs IO to submit charge-sheet against Faisal, Shafi & others

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KARACHI: Customs Court Judge Syed Faiz Rasool Rashdi directed the investigation officer to complete investigation and submit a charge-sheet against accused Faisal Abbas, owner of M/s Shafi Shah Muhammad Ghous Lahore, and directors/involved persons of M/s United Marine Agencies (private) limited for deliberately submitting misleading information regarding the false bills of shipment. During the hearing, investigation officer submitted an FIR ... Read More »

ASO impounds 400 mobile phones worth millions of rupees

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LAHORE: Collectorate of Customs Preventive Anti-Smuggling Organization has seized 400 mobile phones worth millions of rupees from a passenger who was coming from Peshawar on a bus. The sources told Customs Today that the passenger was carrying non-customs paid assorted type of mobile phone and was held by the customs authorities as he failed to produce any legal clearance documents ... Read More »

Mianwali ASO seizes smuggled HDPE pipes

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MIANWALI: The Customs Anti Smuggling Organization (ASO) Mianwali has seized foreign origin non duty paid HDPE pipe 2240 kilograms with carrier vehicles. The appraised value of the smuggled items is Rs31,40,000 involving duty and tax worth Rs7,43,520. Sources told Customs Today, that Deputy Collector Muhammad Rizwan received a tip off that some items are being brought into the country without ... Read More »

BKIAP customs earns Rs4.40m all duty & taxes during 15 days of April

Tax Revenue

PESHAWAR: The Peshawar Customs, Bacha Khan International Airport (BKIAP), collected Rs4.40million All Duty and Taxes during the 1st to 15th of April Financial Year 2016-17. According to details told by Fazle Samad, Additional Deputy Collector Model Customs Collectorate Peshawar, that during above said period, the BKIAP collected Rs1.40million Customs Duty whereas it collected Rs0.19million miscellaneous surcharges. The Peshawar customs airport ... Read More »