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Tag Archives: Customs duty

Customs duty by Russia causing outcry for international deliveries

MOSCOW: Russia’s Federal Customs Service has drawn outcry from express delivery services after informing market players last week that all low-value shipments sent abroad by companies would now be subject to a customs duty. Companies now have to pay a duty of between 750 rubles and 1,000 rubles ($13 to $17) on each package worth 200 euros ($217) or less, the report said. What’s more, companies will ... Read More »

Appraisement-East fails to achieve set target of Rs18.99b in Jan

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KARACHI: The Model Customs Collectorate MCC Appraisement-East has collected Rs 17.88 billion in January, 2015 under different heads, including customs duty, sales tax, income tax and federal excise duty against the set target of Rs 18.99 billion. According to revenue statistics, the MCC Appraisement-East has collected Rs 5918.71 million in share of Customs Duty against the set target of Rs ... Read More »

Dubai ends customs duties for Singaporean products

Duty Free Shopping Bag Represents Tax Exempt Discounts

DUBAI: Dubai Customs is to fully exempt all the customs duties for Singaporean products of GCC origin and approves the exemption of pre-set lists of Singaporean products coming into the GCC at pre-determined times. Ahmed Mahboob Musabih, the director of Dubai Customs, said: “This is a milestone agreement in strengthening ties and promoting trade between the GCC countries and Singapore. ... Read More »

Pharmaceutical manufactures demand duty, tax exemption from Zimbabwean Customs

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HARARE: During a tour of pharmaceutical companies by the Parliamentary Portfolio Committee on Industry and Commerce, the pharmaceutical Manufacturer’s Association demanded to the government that the duty and Value Added Tax on imported raw materials and packaging should be both removed. Customs duties and VAT create a un- even playing field in the pharmaceutical sector as foreign manufacturers who import ... Read More »

Rs4,300b revenue could be generated thru wealth, agri taxes, FBR Union tells TRC

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LAHORE: The Federal Board of Revenue (FBR) Union has sent some proposals to the Tax Reform Commission (TRC), in which it said that the Board can generate revenue equal to the total volume of federal budget i.e. Rs4,300 billion through imposition of wealth tax and implementation of agri tax. FBR Union President Mian Abdul Qayyum, in the letter, said that ... Read More »

Customs Central Region collects Rs11.28 billion revenue

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  LAHORE: The Customs Central Region has collected customs duty worth Rs 11.28 billion up 11 percent in four months of financial year 2014-15 against Rs 10,169 million in the same period of last financial year. The Customs Central Region consists of four appraisement, including Lahore Appraisement, Lahore Preventive, MCC Multan and MCC Faisalabad. As per details, the Lahore Collectorate of ... Read More »

Rs4,300b revenue could be generated thru wealth, agri taxes, FBR Union tells TRC

tax commission

LAHORE: The Federal Board of Revenue (FBR) Union has sent some proposals to the Tax Reform Commission (TRC), in which it said that the Board can generate revenue equal to the total volume of federal budget i.e. Rs4,300 billion through imposition of wealth tax and implementation of agri tax. FBR Union President Mian Abdul Qayyum, in the letter, said that ... Read More »

FBR in pursuit of Rs2810b achieves Rs750b in Oct up from Rs661b, records 17% growth

FBR

ISLAMABAD: Federal Board of Revenue (FBR), in pursuit of Rs2810 billion target, has collected Rs750 billion during July-October this year against Rs661 billion in corresponding period of 2013-14. Sources said that during July to October 2014, FBR collected Rs265 billion as direct taxes, Rs355 billion as sales tax, Rs47 billion as federal excise duty and Rs86 billion customs duty. During ... Read More »

Tax collection target

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The year book 2013-14 issued by the Federal Bureau of Revenue (FBR) shows four percent growth in development and tax collection, but recorded a shortfall of Rs 209 billion in its revenue target set for the specified year. The FBR had collected Rs 2,266 billion during the previous year against a target of Rs 2,475 billion, falling short of Rs ... Read More »

Port Qasim surpasses revenue target by Rs1027m, customs duty by Rs681m

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KARACHI: The Model Customs Collectorate Port Qasim has collected revenue of Rs 21837.29 million in the month of October 2014 in share of different heads including Customs Duty (CD), Sales Tax (ST), Federal Excise Duty (FED) and Income Tax (IT). According to details, MCC Port Qasim has collected revenue of Rs 21837.29 million in the month of October 2014 against ... Read More »

Rs249.7b collected thru customs duty, reveals FBR Year Book 2013-14

Customs duty

ISLAMABAD: Increase in value of rupee versus dollar pushed net collection of customs duty up by around one per cent, while gross and net collection from customs duty remained Rs249.7 billion and Rs241 billion respectively during 2013-14. According to the Year Book 2013-14 issued by Federal Board of Revenue (FBR), the customs duty contributed around 17.4 per cent and 10.6 ... Read More »

FBR collects Rs180b in Oct with 17pc growth

FBR Revenue increase

ISLAMABAD: Federal Board of Revenue’s (FBR) gross revenue collection stood at Rs180 billion during the month of October this year against Rs156 billion it collected in October 2013, reflecting a growth of 17 per cent. The FBR has paid refunds/rebates of Rs8 billion during the month against Rs4 billion paid in last October. The Board has collected Rs750 billion during ... Read More »

FBR collects Rs750 billion during July-Oct

FBR

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs750 billion during July-October this year against Rs661 billion in corresponding period of 2013-14. Sources said that during July to October 2014, FBR collected Rs265 billion as direct taxes, Rs355 billion as sales tax, Rs47 billion as federal excise duty and Rs86 billion customs duty. During the month of October this year, ... Read More »

Customs seeks NFC’s explanation on machinery export

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MULTAN: The Multan Customs Intelligence and Investigation has sought a reply via a notice from the National Fertiliser Corporation (NFC) for the clarification of machinery exported for repair last year. The National Fertilizer Corporation has sent machinery worth Rs 20 million abroad to get it repaired. According to Customs Intelligence and Investigation, the NFC has so far not paid customs duty ... Read More »

Tuesday October 21- Monday October 27, 2014

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Auto part makers flay Customs’ 400pc concession to importers

auto-industry

LAHORE: Pakistan Customs, through ruling No 685/2014, has reevaluated the Import Trade Prices (ITPs) for Chinese motorcycle parts and gave commercial importers huge 400 per cent concession against the values determined for OEMs. However, Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has censured the Customs for reducing valuation of Chinese motorcycle parts and said that such ‘illogical’ valuation ... Read More »

FBR collects Rs63b ‘more’ revenue in July-Sept

revenue target

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs563 billion in July-September of current fiscal year as compared to last year’s Rs500 billion, showing growth of 12 per cent. However, there is Rs20 billion shortfall as FBR collected Rs563 billion during the first quarter FY 2014 against the target of Rs583 billion. Sources said that despite the ongoing political turmoil, ... Read More »

ECC likely to slash customs duty in new Auto Policy 2014

2012 Chevrolet Sonic LT 5 Door

ISLAMABAD: Economic Co-ordination Committee (ECC) of the Cabinet is likely to slash the tariff for auto sector after review of the draft of Auto Development Policy (ADP) 2014. According to a report, a committee led by Minister for Water and Power Khawaja Asif has reviewed the draft of Auto Development Policy 2014 recommending some changes in duty and tariff. In ... Read More »

Appraisement-East collects Rs 178 million additional revenue in Q1

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KARACHI: Model Customs Collectorate of Appraisement-East collected additional revenue of Rs 70.15 million in September through administrative measures pushing cumulative revenue collection under the same head during the first quarter ended September 30 to Rs 178.26 million. A letter dated October 10 sent to Secretary (Customs Budget), FBR, Islamabad, read that the collectorate collected Rs 70.15 million revenue through administrative ... Read More »

Appraisement-East collects Rs 20.4 billion in September

revenue

KARACHI: The Model Customs Collectorate (MCC) of Appraisement-East collected Rs 20.44 billion in September under the heads of customs duty, sales tax, withholding tax and federal excise duty. The MCC of Appraisement-East exceeded overall targets for customs, sales tax and withholding tax for September; however, the target for federal excise duty remained unachieved. The Appraisement collected Rs 5.38 billion customs ... Read More »