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Arslan Subuctageen assumes charge of Chief FBR

ISLAMABAD: Dr. Arslan Subuctageen of Pakistan Customs Service (BS-20) has relinquished the charge of the post of Collector, Model Customs Collectorate, Gwadar with effect from 07-01-2014 and assumed the charge of the post of Chief, Federal Board of Revenue (Headquarters), Islamabad with effect from 15-01-2014. Read More »

Iftikhar Qutab assumes charge of Member FBR

ISLAMABAD: Chairperson Punjab Revenue Authority (PRA) Iftikhar Qutab has assumed the charge of the post of Member (BS-21), Federal Board of Revenue (FBR) from January 15, 2014. According to a notification issued by FBR on Wednesday, in repatriation from the Government of Punjab vide Notification No SOEI-2-2/2012, dated 09.01.2014, and in pursuance of FBR Notification No 0566-IR-I/2013, dated 11.03.2013, Iftikhar ... Read More »

FBR does not have authentic data of non-taxpayers: Tariq Bajwa

KARACHI: Federal Board of Revenue (FBR) does not have any authentic and verified data of non-taxpayers. This was stated by Chairman FBR Tariq Bajwa during a question-answer session at a programme organized by KCCI with the theme of “My Karachi, the oasis of harmony” at a local hotel on Wednesday. Speaking on the occasion, Bajwa informed that FBR has collected ... Read More »

Exports shoot up, import bill comes down: SBP annual report

KARACHI: Exports have shot up and import bill has come down, while tax net remained restricted to the few being taxed already, State Bank of Pakistan’s annual report on the state of economy for the year 2012-13 has revealed. In addition to this domestic debt has increased to Rs 1.9 trillion. The report said global commodity prices’ downward trend helped contain ... Read More »

Customs value for textile lining material revised

KARACHI: Directorate General of Customs Valuation Karachi has announced new customs value on import of textille lining material from China. The new Valuation Ruling has superseded the previous one fixing the customs value of the material from China at $3 per kg. It was earlier determined vide Valuation Ruling No 483/2012, dated 25-10-2012. Earlier, various representations were received, including representations ... Read More »

FBR detects under-invoicing in milk imports

ISLAMABAD: Federal Board of Revenue has detected underinvoicing on the import of milk preparations for infant use from European Union and Far Eastern countries, causing revenue loss to national exchequer. Sources said that it was brought to notice of Directorate General of Customs Valuation by field formations that milk preparations for infant use are being imported at under-invoiced values, causing ... Read More »

Release of stuck-up imported vehicles to generate Rs3b revenue

KARACHI: About 1,000 imported vehicles are stuck at port as Pakistan Customs is yet to clear them since November 2013. The vehicles have been imported under the scheme of personal baggage, gift and transfer of residence and government can collect revenue of about Rs 3 billion by releasing these vehicles. In February last year, the ministry of commerce through an ... Read More »

Jewellery, gems export declines

KARACHI: Pakistan’s export of jewellery in the current fiscal year has fallen by over 77 percent which is $201.336 million during the period from July to November according to Pakistan Bureau of Statistics. During the period, the country’s export of jewellery fell to $690.681 million from $892.017 million, the PBS data revealed. Export of gems also posted a registered growth ... Read More »

Attempt of drugs smuggling thwarted at Karachi airport

KARACHI: Pakistan Customs Drug Enforcement Cell at Jinnah International Airport thwarted an attempt to smuggle 3200 grams of heroin out of Pakistan to UK. According to Pakistan Customs spokesperson, Customs Drug Enforcement Cell’s staff of Jinnah International Airport, Karachi, intercepted a Pakistan born British passenger Zahid Maqsood when he reached airport to board Emirates Airlines flight EK-601 for Birmingham via Dubai. When the passenger ... Read More »

Foreign posts of commercial officers not being abolished: Dastgir

ISLAMABAD: State Minister for Commerce and Textile Industry Khurram Dastgir informed the Senate that Pakistan exported a total of 78 items to India and the number of items imported from the neighbouring country remained 94. The Minister assured the Senate that no proposal was under consideration to abolish foreign posts of commercial officers. Replying to a question, the minister said ... Read More »

Customs to get 60 vehicles soon for curbing cross-border smuggling

ISLAMABAD: As part of a multi-pronged strategy to curb smuggling on borders, Pakistan Customs is likely to get 60 vehicles to augment its anti-smuggling fight. According to Customs Deputy Collector Sadiqullah Khan, the vehicles are being provided under a pledged made by the American Department of Homeland Security at the International Donors’ Conference. He said that the US agency had ... Read More »

Man held with heroin

ISLAMABAD: The Airport Security Force arrested a man with one-kg of heroin at Islamabad airport. As per details, the man identified as Rashid was going to UAE and had attached the contraband with his body. The accused said to be a resident of Kurram Agency of tribal area. The accused succeeded in clearing different checking points including first entry search, ... Read More »

FBR announces exemptions for govts, diplomats, privileged persons

ISLAMABAD: Federal Board of Revenue has announced exemptions for federal and provincial governments, foreign diplomats, diplomatic missions and individuals entitled to privileges under the United Nations (Privileges and Immunities) Act through an SRO 17(I)/2014. Sources said that exemptions are announced on payment of 10 percent withholding tax on functions in hotels/marriage halls and 5 percent tax on fee paid to ... Read More »

Senate body for handing over 84 acres of Gwadar land to Chinese company

ISLAMABAD: The Standing Committee on Ports and Shipping of Upper House of the Parliament emphasized handing over 84 acres of land to Chinese company and completion of all road links prior to the company starts operating Gwadar Port. The Senate Standing Committee on Ports and Shipping, in its meeting held with Senator Fateh Muhammad Hassani in the chair, also expressed ... Read More »

FBR sticks to plan of publishing directory of 0.85m registered taxpayers

ISLAMABAD: FBR will remain stick to its plan of making public the details of registered taxpayers through a tax directory to be published till March 31, 2014. Sources said these o.85 million registered taxpayers will include prominent businessmen, public sector employees, artists and players among others. Pakistan would become the fourth country to publish the income and tax payments of ... Read More »

Customs duty: MCC Lahore achieves overall growth of 30.52pc

LAHORE: Model Customs Collectorate Lahore has collected in total a Customs duty of Rs 11,140 million during the first half of Financial Year 2013-14, up by 30.52 per cent against Rs 8,535 million in the same period of FY 2012-13. According to the documents available with Customs Today, the station wise collection of customs duty by MCC (Appraisement) Lahore stood at ... Read More »

Waitress with drugs in pens busted

KUALA LUMPUR: Malaysian Customs arrested a waitress from China who tried to smuggle syabu (Methamphetamine), a type of drug in 310 marker pens through the Kuala Lumpur International Airport. Customs officials detected the woman as she was clearing the customs checkpoint at the airport. “When her luggage was scanned we found 310 marker pens in her bag. At first glance the ... Read More »

Transporters irritated over road users’ tax suggestions

KARACHI: Transporters have showed discontent over the recommendation that road users’ tax shall be collected through additional levies on CNG, diesel and petroleum goods. President, Karachi Transport Action Committee, Mohammad Ashraf Banglori has said that people including vehicle owners and transporters were already paying wide range of taxes including road users as for example in the form of toll taxes. ... Read More »

Traders threaten strike if problems not addressed

LAHORE: Anjuman-e-Tajiran Ferozepur Road has threatened to stage protest and observe a complete strike on Friday (January 17) against Metro Bus Extension Project that is going to hit 6200 businesses in Chungi Amarsidhu area alone. This was said by Action Committee Chairman Ayub Mayo who was leading a 20-member delegation of Anjuman-e-Tajiran Ferozepur Road while he was talking to LCCI ... Read More »

Commerce secretaries talks in New Delhi tomorrow

ISLAMABAD: Commerce Secretaries of Pakistan and India are scheduled to resume trade talks in New Delhi on Jan 14. The meeting is to be held after a gap of 16 months. The meeting is likely to agree on fresh timelines for implementing the roadmap for removing bottlenecks in trade liberalisation. Minister of State for Commerce Khurram Dastgir Khan will arrive ... Read More »