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1,000 black ants smuggled into China

BEIJING: More than 1,000 black ants smuggled into China from Germany in two parcels have been seized in Chengdu, Sichuan province. “The intended recipient intended to raise them as pets,” said Chen Bingyu, an information officer from the Sichuan Entry-Exit Inspection and Quarantine Bureau. The person was not named, but an investigation is under way, Chen said. On Friday, Chengdu Customs ... Read More »

FBR Members discuss sales tax, WHT issues with traders

ISLAMABAD: The newly-formed committee on Sales Tax has held a meeting with traders under chairmanship of MNA Rana Muhammad Afzal Khan at FBR House. Meanwhile, a meeting of the Committee on Income Tax was also held under the chairmanship of Shahid Hussain Asad, Senior Member Inland Revenue Policy. Leading representatives from the business community and FBR senior Members participated in ... Read More »

Export goods declarations only through E Form after 11th: FBR

ISLAMABAD: Exporters have been directed to file their export goods declarations (DGs) through WeBOC only with E Forms after November 11. The authorities have informed the exporters to obtain their electronic E Forms from authorised banks, however, an intervening period has been allowed during which they can file requisite applications using their secure WeBOC login/password. The exporters have been advised ... Read More »

Chinese Customs seizes 580g of ice drugs

BEIJING: Recently, Guangzhou Customs officers seized 580 grams of ice drugs that were hidden in transit cargo. On the very day of inspection, officers of Baiyun Airport Customs House (affiliated to Guangzhou Customs District) exercised cargo control with a sniffer dog. When inspecting an express carton, the dog attentively sniffed around the carton, wagging its tail. The officers opened the ... Read More »

Top partner: China, US trade volume hit $441m in first three quarters

BEIJING: China replaced Canada for the first time as the United States’ top trade partner between January and September, figures from the US Department of Commerce showed. Trade volume between China and the US hit $441.6 billion in the first three quarters of the year, surpassing the $438.1 billion in trade between Canada and the US, the Commerce Department reported ... Read More »

China, Vietnam ready to boost ties

BEIJING: The leaders of China and Vietnam yesterday agreed to limit their differences and maintain peace and stability, as the countries attempt to repair ties strained over territorial disputes in the South China Sea. President Xi Jinping received a rare 21-gun salute before he and Vietnamese Communist Party chief Nguyen Phu Trong headed for talks behind closed doors. The two ... Read More »

China’s Bona Film invests $235m in Fox movie slate

BEIJING: A major Chinese film studio has struck a deal that will funnel $235 million into a slate of six tentpole 20th Century Fox Film Corp’s movies including this summer’s The Martian, as China’s burgeoning entertainment industry deepens its courtship with Hollywood. Tentpole movies are films that are expected to be very successful and therefore able to fund a range ... Read More »

China’s exports down 1.8%, imports fall 15.1% in first three quarters

BEIJING: Exports this year are expected to remain generally flat while imports may fall substantially, according to a Ministry of Commerce report released Thursday. Foreign-trade growth fared well with a smaller drop than the global average and most major economies, the report pointed said. For the first three quarters, foreign trade dropped 7.9 percent year-on-year to 17.87 trillion yuan ($2.82 ... Read More »

CNNC inches closer to $6b nuclear plant deal with Argentina

BEIJING: State-owned China National Nuclear Corp is inching closer to a $6 billion deal with Argentina to build the Latin American country’s fourth nuclear plant. The nuclear giant has wrapped up talks for the fourth reactor and signed a framework agreement for a fifth plant. That fifth one is expected to use China’s home-grown nuclear technology, according to CNNC sources. ... Read More »

IMF set to grant $502 million loan tranche to Pakistan

ISLAMABAD: Finance Minister Ishaq Dar said the International Monetary Fund (IMF) would approve $502 million tranche of loan for Pakistan in December, though the country’s economic performance did not remain very impressive. The minister was talking after the representatives of Pakistan and the IMF concluded the 9th review under extended fund facility during the meetings that continued from October 26 ... Read More »

Sialkot Customs collects Rs 23 million as customs duty in October

SIALKOT: The Model Customs Collectorate Sialkot has collected Rs 23 million under the head of custom duty in October, 2015 showing 45 percent increase over the same period of last year. As per details, the Sialkot Customs had collected Rs 15 million during October of last year 2014. Officials told Customs Today that collectorate was striving to surpass the revenue ... Read More »

Collector Sarfraz Warriach seeks traders cooperation in achieving revenue target

MULTAN: The Federal Board of Revenue (FBR) set the huge collection target of almost Rs 50 billion for Model of Customs Collectorate Multan, said Collector of Customs Sarfraz Ahmed Waraich while talking to a delegation of local traders, importers, exporters and industrialists headed by President of Multan Chamber of Commerce and Industry (MCCI) Mian Fareed Mughees A Sheikh. Collector MCC ... Read More »

FBR being rid of corrupt elements: Shahid Jatoi

ISLAMABAD: In order to maintain good reputation of department and eliminate corrupt elements, the Federal Board of Revenue (FBR) is trying to appoint honest and hardworking chief collectors, chief commissioners, collectors and commissioners. FBR Administration Member Shahid Hussain Jatoi expressed the determination in an interview with Customs Today, adding that corruption has been reduced through implementation of institutional framework to ... Read More »

Islamabad Customs collects Rs 424 million as customs duty in four months

ISLAMABAD: The Model Customs Collectorate collected Rs 424.81 million in term of customs duty during the first four months of current financial year 2015-16. According to the details, Islamabad Customs had collected Rs 545.21 million during same corresponding period of last year 2014-15. The figure shows 28 percent decline in collection of customs duty than the previous year. Moreover, during ... Read More »

Chinese businessmen keen to invest in Pakistan

LAHORE: Head of the five-member Chinese delegation Chao Ni has said that Chinese investors are keen to invest in Pakistan. Economic partnership between the businessmen of the two countries would not only help tap huge potential exists in Pakistan and China but would expedite growth. He was talking to LCCI President Sheikh Muhammad Arshad and Senior Vice President Almas Hyder. ... Read More »

Customs allows intervening period to obtain E-Form by using WeBOC ID

KARACHI: With an aim to facilitate exporters in obtaining their electronic E-Forms (from authorized banks), an intervening period has been allowed during which they (exporters) can file requisite applications using their secured WeBOC login/password. The official sources told Customs Today that the Electronic E-form facility has been introduced in WeBOC with effect from November 2, 2015. Thereafter, all exports through ... Read More »

Sialkot ASO confiscates smuggled soaps, shampoos

SIALKOT: The Customs Anti-Smuggling Organization (ASO) Sialkot seized foreign origin soaps, shampoos and other items worth Rs 500,000. Sources told Customs Today that the ASO officials intercepted a passenger bus on GT Road coming from Peshawar and recovered smuggled items, which have been confiscated under the customs laws. Source said that the campaign against smuggling was continued in full swing. They added, ... Read More »

Customs Appellate Tribunal disposes Euro Duty Free Shop case

LAHORE: The Customs Appellate Tribunal (CAT) has disposed of Euro Duty Free Shop Limited case. The tribunal remanded the case back to the adjudication with the directions of fresh speaking order in according with the law in 60 days. As per details, the appellant had filed the case in the customs appellate tribunal on grounds that the customs collector levied an illegal ... Read More »

FBR’s transfers, postings orders fall on ‘deaf ears’

KARACHI: Though the Federal Board of Revenue (FBR) instructed Chief Collector Customs to implement transfer and posting orders, the official both at higher and lower grades are seemed reluctant to relinquish charge and join new responsibilities. Recently, the FBR made transfer and postings in Model Customs Collectorate Appraisement East and West, however the official who have strong backing are not ... Read More »

Customs Appraisement West allows clearance of imports by M/s Atlas Honda on simple guarantees

KARACHI: The Model Customs Collectorate (MCC) Appraisement West has allowed M/s Atlas Honda to import goods by ‘simple guarantee’ instead of bank guarantees etc. The sources told Customs Today that the Clearing Agent Abdullah Memon, who gets cleared all the imports of Atlas Honda, had approached Collector MCC Appraisement West Dr Jawwad Owais Agha with a request to allow the ... Read More »