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Question of money laundering


The State Bank governor has told a panel of the National Assembly the other day that the central bank has never allowed citizens to transfer money abroad through legal or illegal means and buy offshore properties. He also clarified that the state agencies are responsible for the investigation of illegal financial transactions and the central bank has no mandate to ... Read More »

ASO seizes another illegal godown of skimmed milk near Railway Station


  LAHORE: Collectorate of Customs Preventive Anti-Smuggling Organization (ASO) has seized another skimmed milk worth millions of rupees at a godowns near Railways Station, official sources said. Sources told Customs Today that the customs ASO after receiving a secret information constituted a team consisting Superintendent Mumtaz Ajmal Mian, Inspector Khalid Butt and others led by Assistant Collector Asim Awan and raided ... Read More »

NAB arrests AWJ Securities director; seizes relevant record


ISLAMABAD: Taking prompt action on a reference forwarded by Chairman SECP, the NAB Rawalpindi has arrested Hassan Waheed Khan, Director AWJ Securities Private Limited late night on Tuesday. The NAB team also raided the office of the AWJ Securities located on 2nd floor of the Stock Exchange Tower Islamabad and seized all the relevant record. The NAB Rawalpindi presented the ... Read More »

Customs recover smuggled mobile phones after raid at JIAP


KARACHI: Pakistan Customs has recovered several valuable cellular phones from the possession of a passenger at Jinnah International Airport (JIAP). According to the details, the staff of Pakistan Customs Preventive deputed at arrival of Jinnah International Airport Karachi during a routine checking intercepted a passenger and asked for the language search. During the search of the passenger named Mujahid, several ... Read More »

PCA detects duty, tax evasion of Rs 2,503,829 by M/S Trust Enterprise


LAHORE: Directorate of Customs Post Clarence Audit (PCA) has summoned M/s Trust Enterprise Rawalpindi in duty and tax evasion of Rs2,503,829 by on the import of tarpaulin. According to the details, the PCA Lahore observed that the import clearances data against HS Code 6306.1210 effected from various Model Customs Collectorates during the calendar years. 2012 and 2013 revealed that inadmissible ... Read More »

WHT zone of RTO-II achieves 101pc growth in six months: Sajid Ahmed


LAHORE: Due to outstanding performance by the Withholding Zone, Regional Tax Office-II has collected Rs47371million with 101 percent growth in the first half of the ongoing financial year. The WHT Zone record 320 percent growth has been recorded in spinning section and 130 percent under the head of marriage halls under the Section 236-D in the first six months of ... Read More »

ATIR adjourns hearing of tax matter filed by M/s Aftab Traders


ISLAMABAD: Appellate Tribunal Inland Revenue (ATIR) on Thursday dated in office hearing on a tax matter challenging issuance of show cause notice to M/s Aftab Traders. ATIR Account Member Dr Ghulam Mujtaba Bhatti resumed hearing on the case and date dated in office due to extensive hearing on some other matters at the tribunal. This case, filed by M/s Aftab Traders, was heard by the bench ... Read More »

DG valuation issues order in revision no 301/2017 against VR No.1007/2017


KARACHI: Director General of Customs Valuation issues Order in Revision No.301/2017 under section 25-D of the Customs Act, 1969 against Valuation Ruling No.1007/2017 dated 11-01-2017; the revision petition was filed by M/S Al-Naqeeb Enterprises & Others. The petitioner stated that aggrieved by the acts of the respondent director, whereby he has unlawfully, arbitrarily, without making a determination, has fixed the ... Read More »

FBR adopts new security measures at FBR House


ISLAMABAD: In view of current security situation in the country, the Federal Board of Revenue (FBR) has decided to adopt new security measures. According to the details, Secretary Security and Management FBR has issued new directions to improve security, in which he has said that in view of the current wave of terrorism, the rear gate of the FBR House ... Read More »

IHC to hear tax reference filed by M/s Biafo Industries today


ISLAMABAD: Islamabad High Court on Friday to resume hearing of M/S Biafo Industries’ tax reference challenging a recovery claim of Rs 783,325,701 made by the Large Taxpayers Unit, Islamabad . Justice Aamer Farooq of the IHC will hear the case.  M/S Biafo Industries had filed the case challenging a show cause notice issued by the Large taxpayers Unit,Islamabad. M/S Biafo Industries had named Federal Board of Revenue (FBR), officers of LTU ... Read More »

Chairman FBR appoints Member Administration Majid Qureshi as Chief Coordinator for Budget 2017-18

Majid Qureshi

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Dr Muhammad Irshad has appointed Member Administration Muhammad Majid Qureshi as a Chief Coordinator for Budget 2017-2018. Second secretary coordination has issued an office order regarding the arrangements for the budget 2017-18, with the approval of the Secretary Revenue Division and the FBR chairman and appointed chief coordinator, coordinator, deputy coordinator, chief security ... Read More »

ATIR to resume hearing of tax matter filed by M/s Pak Telecom Mobile Limited today


ISLAMABAD: Appellate Tribunal Inland Revenue (ATIR) to resume hearing on a tax matter filed by M/S Pak Telecom Mobile Limited on Friday. ATIR Accountant Member Dr Ghulam Mujtaba Bhatti would hear the matter. M/s Pak Telecom Mobile Limited had contested show cause notices issued by the field offices of Federal Board of Revenue (FBR). According to details, M/s Pak Telecom Mobile Limited had challenged recovery of issued to it in head ... Read More »

Interior Ministry removes name of model Ayyan Ali from Exit Control List


ISLAMABAD: Model Ayyan Ali has got a final nod to fly abroad as her name has been removed from the Exit Control List (ECL) by the Interior Ministry. Sources told Customs Today that on the orders of the Supreme Court, the Interior Ministry has issued the notification in this regard. Now Ayyan Ali can travel abroad and it is expected ... Read More »

Govt. should  implement Police Order 2002 with some amendments: Siraj Teli


KARACHI: Deputy Speaker of Sindh Assembly Shehla Raza, while terming it a ‘good news’, said that the Sindh government has started work devising a new Police Act in order to resolve the policing issues under the existing obsolete Police Act 1861. Speaking at a meeting during her visit to the Karachi Chamber of Commerce and Industry (KCCI) , Deputy Speaker ... Read More »

Smugglers have fear of customs in their mind: Riaz Hussain

Deputy Director Riaz Hussain

FAISLABAD: The Customs Intelligence and Investigation (I&I) foiled smuggling attempts of miscellaneous goods worth Rs236.67 million which involves duty Rs90.1 in first seven months of FY2016-17 during different operations. Deputy Director Customs I&I Riaz Hussain told this during an exclusive talk with Customs Today. He told that the Customs I&I under the directions of Director Rubab Sikandar conducted various raids ... Read More »

DG Valuation revises customs value of caustic soda flakes

File 4

KARACHI: The Directorate General of Customs Valuation revised the customs value of caustic soda flakes through Valuation Ruling No 1052/2017 under Section 25A of the Customs Act, 1969. According to details, the custom values of the caustic soda flakes were earlier determined vide Valuation Ruling No 852/2016 dated 16.05.2016. There were several representations from different traders and trade bodies i.e. ... Read More »

DG Valuation revises customs value of vehicles above 1800 CC

DG Valuation revises customs value of vehicles above 1800 CC

KARACHI: The Directorate General of Customs Valuation revised the customs value of vehicles above 1800 CC, Japan origin through Valuation Ruling No: 1051/2017 under Section 25A of the Customs Act, 1969. According to details, the Custom Values of vehicles above 1800 CC, Japan origin model 2009 to 2013 were determined under section 25-A of the Customs Act, 1969, vide Valuation ... Read More »

NAB arrests accused of cheating public at large


LAHORE: National Accountability Bureau arrested Director of M/s AWJ Securities private limited Hassan Waheed son of Abdul Waheed accused in Rs260 million fraud and cheating public at large for the purpose of sale and purchase of shares in stock exchange. According to details, a complaint received from Securities and Exchange Commission of Pakistan (SECP) according to which the director of ... Read More »

Container operation at Karachi port goes slow-down due to closing of Pak-Afghan border


KARACHI: Customs officials at Karachi sea port adopted go-slow policy due to closing of Pak-Afghan border. According to details, on the account of Pak-Afghan trade, around 3,000 containers pass through the port per month. Customs officials said that this is a huge quantity and looking after them at the border is difficult for the department. So the operation at the ... Read More »

PSX sheds 172pts as bearish trend persists till midday


KARACHI: The bearish trend persisted at the Pakistan Stock Exchange as the benchmark 100-index shed 171.82 points to reach 48809.83 points level till midday on Thursday. Earlier, the stocks opened bearish as it shed massive 426 points to drop to 48555.55 points level in early trading. On Wednesday, the profit-taking along with future roll over led index to decline by ... Read More »