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Tag Archives: FBR Chairman

Tahirul Qadri tax evasion: FBR to unfold investigations soon

Qadri Time to pay tax

ISLAMABAD: Federal Board of Revenue reportedly completed investigations into Pakistan Awami Tehrik (PAT) chairman Dr Tahirul Qadri’s Rs 770 million tax evasion and decision will soon be publicized. As per details, FBR has issued orders of a legal proceeding against PAT chairman Dr Tahirul Qadri and his organization after completing investigations of tax evasion. FBR source told Customs Today that ... Read More »

Containers’ grounding: PICT, KICT fail to resolve issues

Karachi port

KARACHI: The importers and traders have been facing mismanagement and delaying tactics by administration of Pakistan International Containers Terminal (PICT) and Karachi International Containers Terminal (KICT) in grounding of containers. “Pakistan Customs’ officials use delaying tactics and give lame excuses like shortage of labour and space while grounding containers for examination” Shujaat Ahmed an importer informed Customs Today. Kamran Akhtar, ... Read More »

Lahore ANF seizes 30.2 kg drugs, arrests 9 smugglers

drugs

LAHORE: The Anti-Narcotics Force (ANF) conducted operations in various areas of Lahore and seized huge quantity of charas and heroine and other drugs. The ANF Lahore intercepted Toyota Corolla Car No ADA- 310 (Sindh) at Rikhi Morr, Talagang Road, Mianwali and recovered 24 kg charas concealed in secret cavities of the car. Two drug smugglers namely Aman Ullah Khan and ... Read More »

FBR seeks Finance Ministry to take ADRS down

Finance

ISLAMABAD: The Federal Board of Revenue asked the Finance Ministry to take down Alternative Dispute Resolution System (ADRS) due to its poor performance. The Alternate Dispute Resolution (ADRS) offers companies an opportunity to apply full force of the law efficiently and effectively. Whereas the system has no option but to apply justice through the natural course of a blocked court ... Read More »

SHC orders early release of M/s Royal Packages’ consignments

containers

KARACHI: The Sindh High Court (SHC) in its verdict asked Pakistan Customs to release the consignment of M/s Royal Packages after submission of unpaid differential amount in share of duty. According to the details, the Research and Development (R&D) Section of Model Customs Collectorate (MCC) of Appraisement-East had identify a case of huge tax evasion of Rs308 million by M/s ... Read More »

FBR assesses legal provisions of budget 2014-15

COURT-Scale

ISLAMABAD: The Federal Board of Revenue (FBR) has started discussions on impacts of legal provisions presented in the budget for FY 2014-15. Government introduces legal provisions in the federal budget to facilitate FBR to meet the revenue collection target every year and then a process of review of impacts of legal provisions also continues throughout the year. A meeting in ... Read More »

Customs issues valuation ruling of Methylene Chloride

images

KARACHI: The Directorate General of Customs Valuation has issued the Customs values of Methylene Chloride through Valuation Ruling No.679/2014 under Section 25-A of the Customs Act, 1969. The said Valuation Ruling has superseded the previous Valuation Ruling No.629 regarding the Customs values of Methylene Chloride. According to the details, the Customs values of Methylene Chloride having PCT Code 2903.1200 and ... Read More »

Customs I&I seizes 120,000 litres smuggled oil

Oil Prices

Karachi: Directorate General of Intelligence and Investigation (I&I) Hyderabad seized oil tankers carrying sixty thousand litres of smuggled oil worth Rs 10 million. As per details, DG I&I on tip of informer raided oil tankers carrying smuggled oil and seized 60,000 litres oil. Three criminals have been arrested during the seizure. It was said that oil was being smuggled to ... Read More »

Red card: No more tax exemptions to NGOs/NPOs

tax-exemption-on-70-items-to-be-withdrawn-under-imf-s-directives-1382300324-6340

ISLAMABAD: Federal Government has withdrawn the tax exemptions provided to education institutions running under NGOs, NPOs and welfare trusts. Instead of that they will now receive 100% tax credit facility equal to their payable tax but private charity institution that were not active in welfare efforts will not eligible for this privilege too. The three mandatory conditions to get 100% ... Read More »

CAC Pakistan summit & Agro Chemical Expo on August 5-6

president-of-lahore-chamber-of-commerce-and-186088

LAHORE: China Agro Chemical (CAC) Pakistan Summit and Pak-China Agro Chemical Expo will be held on August 5-6, 2014 at Lahore Expo Centre. The President Lahore Chamber of Commerce and Industry (LCCI) Sohail Lashari at a press conference said that Punjab CM Shahbaz Sharif and Chinese Ambassador would attend the event Pak-China suit and expo. Mr. Lashari said that it ... Read More »

Multan Customs I&I seizes generators, vehicles worth Rs 11.2m

generators

Multan Customs I&I seizes generators, vehicles worth Rs 11.2m Multan: Customs Intelligence and investigations (I&I) seized smuggled generators and vehicles worth Rs 11.2 million on charges of duty evasion. As per details, Multan Customs I&I confiscated the imported generator due to non-payment of customs duty along with mini trucks used in the smuggling of generator. Deputy Director Customs I&I Nisar ... Read More »

Bajwa’s absence: Race for FBR chairman post hots up

FBR1

ISLAMABAD: The race for the Chairman post of the Federal Board of Revenue has been taking curious turns with the senior officers throwing their hats into the ring. After the FBR Chairman Tariq Bajwa left his office few days ago on leave, there were huge curiosity that “who will be the next FBR Chairman” if Mr. Bajwa will transferred to ... Read More »

CHS vows relief efforts till IDPs back at home

IDPs

LAHORE: Customs Health Society (CHS) President Dr. Asif Mehmood Jah assured that relief efforts for IDPs will continue until every IDP back at home at North Waziristan. He mentioned that the CHS has also dug out Thirty five (35) water wells in Tharparkar area of Sindh for provision of clean drinking water to more than 50,000 people of the area. ... Read More »

Customs I&I will hold auction on Wednesday

auction

Multan: Multan Customs Intelligence and Investigation (I&I) will hold public auction of seized goods on Wednesday July 23. According to Customs Intelligence and Investigation the auction of seized goods will be held on Wednesday at Customs Intelligence and Investigation (I&I) office near Khanewal road. The Customs authorities were expecting handsome revenue from the auction, which is one of the main ... Read More »

Shahid Hussain Asad given look-after charge of FBR Chairman

ISLAMABAD: Member Inland Revenue Policy and FBR Official Spokesperson Shahid Hussain Asad has been given look-after charge of FBR Chairman during the leave period of Tariq Bajwa, FBR Chairman/Secretary Revenue Division w.e.f. 18th July, 2014 to 14th August, 2014. It is worthy to mention here that Customs Today had already mentioned in its story published on Saturday about Shahid Hussain ... Read More »

Customs denies smuggling under ‘official patronage’

Jacobabad

HYDERABAD: The Model Customs House Jacobabad has denied the news item regarding “smuggling of contraband under official patronage” published in a section of english press. In a press release issued by the Customs House Jacobabad clarified that Customs staff at Jacobabad check-post were not involved in any kind of smuggling as per the strict instructions from FBR Member (Customs) and ... Read More »

Govt decides to appoint Tariq Bajwa as Finance Secretary

Bajwa goes to MF

ISLAMABAD: The government has decided to appoint FBR Chairman Tariq Bajwa as Finance Secretary, sources told Customs Today. Sources said that Tariq Bajwa will replace incumbent Finance Secretary Waqar Masood in the middle of August. Seat of FBR Chairman will be vacant after posting of Tariq Bajwa to the office of Finance Secretary. The federal government has also started mulling ... Read More »

Ishaq Dar refuses to cut FBR revenue target of Rs 2810b

Ishaq-Dar-480x238

Islamabad: Federal Minister of Finance Ishaq Dar has made it clear to Federal Board of Revenue (FBR) that revenue target of Rs 2810 billion will not be lessened at any cost for FY 2014-15. While addressing to tax commissioner conference in FBR headquarters, he said “I am fully confident that FBR has the ability to collect revenue more than the ... Read More »

FBR asks Customs, IRS employees to submit missing appointment letters

missing documents

ISLAMABAD: Federal Board of Revenue (FBR) has  ordered employees from Inland Revenue and Customs Department to submit their missing appointment letters as soon as possible for the processing of their applications to shuffle their duties. Appointment letters of BPS 1 to BPS 16 employees of Inland Revenue and Pakistan Customs Department of Federal Board of Revenue (FBR) have been allegedly ... Read More »

Rs60b tax evasion: LHC seeks reply from FBR, NAB, FIA

High Court Multan

MULTAN: The Lahore High Court Multan Bench directed the chairmen of the Federal Board of Revenue (FBR) and the National Accountability Bureau (NAB) and the director general of the Federal Investigation Agency (FIA) to submit a report on alleged tax evasion of Rs60 billion by a private firm. Mian Muhammad Ghaffar of the Public Revenue Protection Company filed a petition ... Read More »