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Tag Archives: Customs Today

FBR to collect Rs530b in two months

LAHORE: Federal Board of Revenue’s Member Inland Revenue Service and Official Spokesman Shahid Hussain Asad had said that FBR has collected tax to the tune of Rs 1,745 billion by April 30, as compared to Rs 1,505 billion in the previous year in the same duration as that of first ten months. He said that 530 billion rupees will have ... Read More »

Vehicle assessment, SRO490, air cargo modules rollout in WeBOC

KARACHI: Directorate of Reforms and Automation has completed its paper work regarding the up gradation of Vehicles Assessment Module, SRO 492 and Air Cargo Module and handed over to PRAL team for software development in WeBOC. The sources confirmed that the Directorate of Reforms and Automation after conducting complete study on aforementioned modules has handed over the upgraded modules to ... Read More »

Turkey eyes EU customs union as US trade talks progress

ISTANBUL: Turkey would find it very hard to continue in a customs union with Europe if the country is excluded from a free trade deal with the United States, but quitting the union is not an option, Turkish Economy Minister Nihat Zeybekci has said. Turkey is pressing to be included in the Transatlantic Trade and Investment Partnership being negotiated between ... Read More »

121 kg drugs seized by ANF in country-wide operation

LAHORE: Anti-Narcotics Force has seized 1.94 kg heroin, 1.2 kg opium and 118 kg charas and arrested five drug peddlers. ANF conducted seven operations in Lahore and other cities of the country said an official source. On receiving information, ANF Lahore recovered 30 kg charas and 1.2 kg opium from a car. Heroin was concealed in the floor of car registered ... Read More »

Board of Trustees for KPT approved

KARACHI: The new Board of Trustees for Karachi Port Trust has been approved by the Prime Minister’s office. The board was ineffective and important matters were pending since KPT’s board meetings had not been held since the last six months. PM’s office has forwarded a notification to the Ministry of Ports and Shipping in this regard. According to the notification, ... Read More »

SRB collects Rs3.9b, registers highest ever monthly collection

KARACHI: Sindh Revenue Board (SRB) has collected over Rs 3.9 billion in the month of April. The total collection during the first ten months of the current fiscal year has reached Rs 32 billion. This reflects a growth of 18.5 per cent as compared to fiscal year 2012-13 collection which stood at Rs 27.3 billion. In addition to this, the ... Read More »

Preventive association, club: Pak Customs Panel clean sweeps elections

KARACHI: Pakistan Customs Panel has won the elections of Preventive Services Officers Association and Preventive Customs Services Club for the year 2014-15 by clean sweeping its opponent, the United Panel. According to the details, the voting for the selection of office bearers of the Preventive Service Officers Association and Preventive Service Officers’ Club for the year 2014-15 was scheduled on ... Read More »

Customs court grants bail to six in betel leaves case

LAHORE: Special Judge Customs Tanveer Akbar has granted bail to six accused of customs duty evasion worth millions of rupees in betel leaves case. Earlier, the court had sent the six accused Ijaz Golati, Amir Yousaf, Saeed Khalid Ali, Fasial Zahoor and two others to judicial lock up. The Customs Investigation and Prosecution department had arrested the accused on three ... Read More »

Zero tax exemption policy suggested

LAHORE: Wholesale Chemist Council Punjab President Akhtar Butt has suggested introduction of zero tax exemption policy in the budget 2014-15. He said that government should expand the tax base and increase revenue through recovery of direct taxes. He said that government should eliminate indirect taxes pleading that it will address the problem of price hike. Pakistan Cotton Ginners Association (PCGA) ... Read More »

Dastgir’s quest for US grant of GSP shows positive signs

WASHINGTON DC: In a briefing to US media Pakistan’s Commerce Minister Khurram Dastgir has said that Pakistan qualified for EU’s grant of GSP Plus “on merit and we want the same arrangement with the US, also on merit.” The commerce minister said, “The US government is keen to help us and we have sympathisers on the Capitol Hill as well.” ... Read More »

Naeem Ajaz assumes charge as Director Post Clearance Audit

ISLAMABAD: Naeem Ajaz Qureshi of Pakistan Customs Service (BS-20) has assumed charge of the post of Director, Directorate General of Post Clearance Audit, Islamabad on 09-05-2014. FBR has issued a notification in this regard which further reads that he relinquished charge of the post of Chief, Federal Board of Revenue (Headquarters), Islamabad, with effect from 08-05-2014. Through another notification, FBR ... Read More »

Non-operational elevators in Customs House, visitors facing hardships

KARACHI: Visitors are facing acute problems in their daily affairs due to the non-operational condition of all three visitors’ specific elevators in Customs House. Three elevators for visitors, mainly importers and clearing agents are installed at Custom House, Karachi in order to facilitate them for travelling from ground floor to 11th floor of the building; two executive elevators are allocated ... Read More »

FBR recommended to scrutinize 60 companies in particular

KARACHI: Model Customs Collectorate of Appraisement-West and the Model Customs Collectorate of Appraisement-East have recommended to Federal Board of Revenue to check the status of around 60 manufacturers’ companies. Sources in FBR informed Customs Today that both the collectorates have referred FBR to check the status of around 60 manufacturers’ companies through Inland Revenue. The companies were found suspicious on ... Read More »

Huge revenue loss due to absence of tabulation in DTRE, Appendix-I form

KARACHI: Federal Board of Revenue is facing huge revenue loss due to the absence of tabulation for determining the values in terms of customs duty, sales tax, income tax, federal excise duty and other taxes in the application form for Duty Taxes Remission on Export (DTRE), Appendix-I. Sources in FBR informed Customs Today that the non-appearance of said tabulation in ... Read More »

Pak Customs seeks verified data of petrol pumps within 48hrs

KARACHI: Pakistan Customs has directed the oil marketing companies to provide verified data of all legal petrol pumps within 48 hours to the authorities concerned. According to sources, a meeting headed by MCC Preventive Collector Syed Muhammad Tariq Huda was held at Customs House in which officials of around 10 to 12 leading oil marketing companies attended the meeting. Additional ... Read More »

July-April: Central region customs duty collection up by 9pc

LAHORE: Central region’s customs duty collection has increased by 9 per cent during the period from July to April during the Fiscal Year 2013-14 as compared to the same period of FY 2012-13. The Central region attained growth in customs duty collection by collecting Rs 27,140 million up to April 2014 against Rs 24,710 April 2013. According to official data, ... Read More »

Budget preparation: FBR bars visitors’ entry

ISLAMABAD: Due to heavy engagements of Chairman and Members of FBR in the Budget related exercise and for the purpose of maintaining secrecy, entry of the visitors in Board’s premises is being restricted with immediate effect. FBR has issued notification in this regard. According to the notification following procedure shall apply until further orders: Only visitors of the Chairman/Members shall ... Read More »

Pak-China Economic Corridor reflects durable future

URUMQI: Senate’s Chairman Syed Nayyer Hussain Bukhari has said that Pakistan-China Economic Corridor envisages close trade and commercial relations and industrial cooperation from Gwadar to Kashgar and a reflection of durable future for the people of Pakistan and China. He said this while addressing a reception in Urumqi. He expressed the confidence in Chinese President’s dream and said his vision of ... Read More »

TDAP to patronize agro-food sector on priority

ISLAMABAD: Trading Corporation of Pakistan (TDAP), Agro Food Division has been geared up by Chief Executive SM Muneer and Secretary Rabiya Javeri Agha in order to give greater focus on the export of Agro-Food sector including fruits, rice, meat and seafood products. “These products are being promoted by the Agro Food Division by arranging participation of exporters in the world ... Read More »

FBR set for phasing out tax exemptions in 3 years, Bajwa tells senate

ISLAMABAD: Federal Board of Revenue is all set for phasing out all the tax exemptions within three years as the total exemptions have reached to Rs. 480 billion. FBR Chairman Tariq Bajwa while briefing the Senate Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatisation said that this step would help enhance over all tax collection. He said that ... Read More »