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Tag Archives: FBR Chairman

Customs notices misuse of law in zinc sulphate import

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KARACHI: The Model Customs Collectorate (MCC) of Appraisement-East has issued assessment alerts in order to examine the consignments of zinc sulphate, commonly used in feed and fertilizer. The sources informed Customs Today that some corrupt elements have been claiming exemption of sales tax under SRO 1007(I)/2005, which is extendable only to feed grade. However, some importers have cleared their consignments ... Read More »

Guard shoots, injures Karachi port worker

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KARACHI: The Karachi Port Trust staff stopped working on Wednesday after a security guard allegedly injured a port worker. According to Superintendent of Police Sheraz Nazir, a worker Shahzad was injured by the security guard. The injured has been shifted to the local medical centre for first aid. Later, the KPT employees stopped working to protest against the incident.   Read More »

1 bench of Karachi Customs Appellate Tribunal not functional

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KARACHI: One of the three benches of the Karachi Customs Appellate Tribunal have not been functional since 2012, it is learnt. The tribunal, which serves as a forum to settle revenue-related disputes of appraisement, was established in 1985 under Section 194 to ease burden on Sindh High Court. Three such tribunals were established, one each in Karachi, Lahore and Islamabad. ... Read More »

Customs serves recovery notices on 55 steal millers

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SIALKOT: The Regional Tax Directorate in Gujranwala has issued tax recovery notices to 55 steal millers. The directorate has also collected Rs 500 million taxes in Gujranwala division despite the civil disobedience call given by the Pakistan Tehreek-e-Insaf Chairman Imran Khan. According to a senior official, the Federal Board of Revenue (FBR) has set another target of Rs 250 million ... Read More »

FIA to produce arms smuggler in court on Thursday

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KARACHI: Sofia Latif, a customs, taxation and anti-smuggling judge, has remanded an accused to the FIA’s custody after arms and ammunition were seized from his personal baggage at the Jinnah International Airport. Mumtazuddin, the accused, will be produced before the judge on Thursday. Sources informed Customs Today that customs has recovered 25 parts of pistol and 97 magazines from the ... Read More »

Rs 771.8m tax evasion: Customs issues contravention report against Q-Mobile

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KARACHI: The Collectorate of Customs Adjudication-I has issued a contravention report against New Allied Electronics (Private) Limited and Digicom (Private) Limited (proprietors of the Q-Mobile cellular phones brand). The Model Customs Collectorate (MCC) Multan has issued the report on alleged tax evasion of Rs 771.8 million under the head of sales tax, additional sales tax and income tax. The total ... Read More »

Appraisement-West implements Queue Management System

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KARACHI: A Queue Management System (QMS) has been introduced at the Model Customs Collectorate of Appraisement-West to facilitate the authorised clearing agents and importers. According to details, automated token machines have been installed outside the offices of the assistant and deputy collectors to facilitate the clearing agents during the hearing of their cases. Moreover, proper seating and lighting arrangements for ... Read More »

Potential taxpayers served show-cause notices in Lahore

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LAHORE: The Lahore Broadening of Tax Base (LBTB) has issued 1,500 show-cause notices to the potential taxpayers and enterprises Under Section 122C of the Income Tax Ordinance 2001. The notices have also been served on such individual and enterprises which were declared as potential taxpayers on the bases of the assessment of their properties or they had conducted taxable transactions. ... Read More »

KSE 100-index down by 275 points

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KARACHI: Karachi Stocks Exchange (KSE) 100-Index lost 275.75 points to reach 28243.59 due to prolonged political uncertainty in the federal capital for 12 days. KSE 100-index has started trading at 28519.5 points and gained 90 points in first forty minutes to reach all day high 28609.94 mark but later stock started losing points gradually to end with 275 points loss. ... Read More »

Up country dry ports vital for interregional trade: Ishaq

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SIALKOT: All Pakistan Dry Ports Association Chairman Muhammad Ishaq Butt said that the role of up country dry ports will become vital in the future with the growth of inter-regional trade, especially due to improving trade relations among Saarc countries and predictable peace in the region. Talking to Customs Today here, he said that all issues related to the up ... Read More »

Youths: From assets to liability

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Pakistan is blessed with intelligent brains and myriad of hardworking workforce, but how much is its utility in this land of pure is a million dollar question. When the skilled workforce is put to work, it is an asset and when it is not, it is a liability. In the same manner, more population means more businesses and more jobs, ... Read More »

FBR Chairman, Member Customs review revenue operations

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KARACHI: The Federal Board of Revenue (FBR) Chairman Tariq Bajwa and Member Customs Nisar Muhammad Ali Khan visited Karachi Customs House to hold meetings with the Pakistan Customs officials on revenue operations at Chairman Secretariat. The Pakistan Customs Enforcement-South Chief Collector Muhammad Nazim Saleem, Appraisement-South Chief Collector Nasir Masroor, MCC Appraisement-East Collector Najeeb-ur-Rehman Abbasi, MCC Appraisement-West Collector Muhammad Saleem, MCC ... Read More »

Traders start preferring Karachi port over Islamabad Dry Port due to sit-ins

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ISLAMABAD: The importers and exporters from Islamabad have started importing and clearing their consignments from Karachi port instead of Islamabad Dry Port due to sit-ins in the federal capital. The traders of Islamabad have been more vulnerable to the effects of the present political disturbance than of any other city in the country. Many importers have cancelled their orders due ... Read More »

Sialkot Dry Port Chairman urges dialogue, condemns road blockade

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LAHORE: Sialkot Dry Port Chairman Muhammad Ishaq Butt has demanded all the political parties resolve the political issues through dialogue in the larger interest of the country. He said that political unrest in the federal capital had affected the exports from Sialkot Dry Port as all roads from Sialkot to Islamabad were blocked. “Exports have decreased by 30 percent during ... Read More »

Imran, Qadri sit-ins: A mixed week for KSE 100-index

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KARACHI: A war of nerve between bulls and bears had been continuing at the Karachi Stock Exchange for the entire previous week as the KSE 100-index jolted many a time owing to Azadi and Inqilab marches led by Imran Khan, the chief of Pakistani Tehreek-e-Insaf (PT) and Dr Tahirul Qadri, the chief of Pakistan Awami Tehreek (PAT) in the federal ... Read More »

TCS, Smart Zone smuggling case hearing postponed till 29th

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ISLAMABAD: Hearing of the TCS and Smart Zone Company smuggling case has been postponed again until August 29 due to unavailability of Customs Judge Muhammad Ahmad Farooqi. Former TCS CEO Saqib Hamdani and Manager Logistics Ghazanfar Gul turned up in the court. Both the accused are still on anticipatory bail and their bail before arrest has not been confirmed yet. ... Read More »

British team to visit PIA cargo terminal to examine scanners

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ISLAMABAD: The British Customs authorities and experts were expected to visit Pakistan Airline Cargo Service in few days to give the final nod of approval for the resumption of its operations to England. The team will examine the newly purchased scanners at PIA cargo terminals after one month suspension of all cargo consignments through airline to England. Sources told Customs ... Read More »

Pakistan proposes trade agreements with Russia

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ISLAMABAD: The federal government has formed a committee headed by Finance Minister Ishaq Dar to address the concerns of exporters regarding lack of coordination with Russian Customs authorities. The government has also proposed the Russian Federation to ink Preferential Trade Agreement (PTA) and Free Trade Agreement (FTA) with Pakistan Customs, however, Russian Customs decided to respond after consultation with all stakeholders ... Read More »

FBR set to achieve Rs 750m target in Aug from various Punjab cities

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SIALKOT: The Federal Board of Revenue (FBR) has set a tax recovery target of Rs 750 million for the Regional Income Tax Directorate Gujranwala for August, 2014. A senior FBR official told the Customs Today that Regional Income Tax Directorate Gujranwala have to collect Rs 400 million income tax and Rs 350 million sales tax to achieve the target. The ... Read More »

Pak-China Customs data sharing committee declared invalid

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KARACHI: The Federal Board of Revenue (FBR), through a letter to Karachi office, has declared a recently formed committee invalid, which was formed to discuss and share trade data between customs authorities of Pakistan and China. Sources confirmed Customs Today that FBR has made the recently formed committee invalid by stating that a committee on developing Electronic Data Interchange (EDI) ... Read More »