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Tag Archives: import

Mobil Oil factory catches fire

MULTAN: A blast has damaged machinery and goods worth millions of rupees in a Mobil Oil factory in Multan, which will also affect the import of Mobil Oil in country. As per details, a Mobil Oil factory in the outskirt of Multan Industrial Estate has caught ablaze due to unidentified reasons as authorities were investigating to find the cause. The ... Read More »

Dastgir to visit Netherlands to improve trade ties

ISLAMABAD: Federal Commerce Minister Khurram Dastgir is scheduled to start a four-day official visit to Netherlands on coming Tuesday. The invitation for this visit was extended by Dutch Minster for Trade Ms Liliame Ploumen during her visit to Pakistan in May this year. During his stay in Amsterdam, minister will hold meetings with Dutch officials on matters of bilateral interest ... Read More »

Bajwa assures tax relief for solar industry

ISLAMABAD: Pakistan Solar Association Vice Chairman Nouman Yousafzai asked Federal Board of Revenue Chairman Tariq Bajwa to give tax compensation in solar system, in a meeting here on Wednesday. As per details, Nauman Yousaf was of the view that by reducing tax value more public could be benefitted from solar power in recent energy crisis faced by country. FBR chairman ... Read More »

Valuation ruling of aluminum foil issued

KARACHI: The directorate general of customs valuation has determined the customs value of aluminum foil through Valuation Ruling No.686/2014 under Section 25-A of the Customs Act, 1969. The directorate general of customs valuation initiated the exercise to determine the customs values of aluminum foil after it was brought into its notice that the subject goods were being imported at under-invoiced ... Read More »

China bans sale, import of ‘dirty’ coal

BEIJING: China will ban the sale and import of ‘dirty’ coal in less than four months, a top government body said, in an anti-pollution move that could have repercussions for key exporters including Australia. Coal with sulphur content of more than three percent and ash content of more than 40 percent will no longer be permitted as of January 1, ... Read More »

SC orders Dewan Cement to pay customs duty after 19 years

KARACHI: The Appraising Intelligence Branch of Model Customs Collectorate Appraisement-West is finally succeeded in managing its outstanding recovery of nearly Rs 80 million from Dewan Cement Limited (Pakland Cement) on its alleged involvement in tax evasion of Rs 86.84 million customs duty and sales tax. According to details, the case has been decided by Supreme Court of Pakistan (SCP) after ... Read More »

FBR to remove flaws in sales tax collection

ISLAMABAD: The Federal Board of Revenue (FBR) has intensified its efforts to remove flaws in sales tax collection to achieve the yearly target  for FY 2014-15. As per details, FBR Chairman Tariq Bajwa and all members were briefed in a presentation on improvements in the collection system to collect sales tax. In the presentation members presented suggestions to remove flaws ... Read More »

Issue of fertilizer subsidy

According to newspaper reports, the Ministry of National Food Security and Research is dilly-dallying the issue of subsidy on fertilizers, leaving little room for the farmers to enthusiastically participate in the next season crops. The use of fertilizers is the basic element in the modern farming and the growers deserve every facility from the government, but the present situation will ... Read More »

Circular debt – again  

Circular debt is the money which various government departments owe to PEPCO as electricity charges. When the government departments do not pay for the power they use, PEPCO fails to pay to various power producing units from where it purchases electricityand the power producing units cannot pay to oil companies to purchase fuel. This creates a circle of debt which ... Read More »

PTI, PAT marches: Punjab govt launches crackdown on crane owners

MULTAN: The Punjab government has started a crackdown on the cranes’ owners who had provided cranes to the Pakistan Tehreek-e-Insaf (PTI) and the Pakistan Awami Tehreek (PAT) on rent during their respective marches. As per details, the Punjab Police has started the crackdown on owners of cranes used for removing containers during marches after receiving the orders from the provincial ... Read More »

LHC disposes of petition by SM Foods seeking quashing of FIR

MULTAN: The Multan bench of the Lahore High Court (LHC) has disposed of a petition filed by Saim Mobeen Food Company in case of mis-declaration of imported goods from Austria. The quashing of the FIR filed by the Saim Mobeen Food Company in case of mis-declaration in the import of iron rods used in the baking of biscuits was disposed ... Read More »

FBR Chairman Bajwa seeks list of seized vehicles from all collectorates

ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Tariq Bajwa has sought all model customs collectorates to provide the details of all seized non-customs paid vehicles. As per details, in a notification issued by chairman office, it was stated that all model customs collectorates should send lists of non customs paid vehicles at warehouses and ports, seized by customs. It ... Read More »

US asks 5 European countries to set up preclearance checkpoints

NEW YORK: The United States has asked five European countries to establish preclearance checkpoints at airports for customs and immigration. The advance checkpoints for foreign travel were recently available only in Canada, the Caribbean, Ireland and the United Arab Emirates. As per details, US has approached England, France, the Netherlands, Germany and Sweden about the set up without making a ... Read More »

Revenue Alliance Union asks FBR chief to accept demands

LAHORE: The Federal Revenue Alliance Employees Union (FRAEU) FBR Pakistan has sent a letter to the FBR chairman, asking him to accept their charter of demands or the union will call for a strike. The union reiterated its demands in the letter regarding the service structure policy for FBR employees from BS-1 to BS-16, grant of one time scale to ... Read More »

Traders seek govt permission to import textile machinery from India

ISLAMABAD: Traders and textile groups have asked the federal commerce ministry to allow them imports textile machinery from India. As per details, importers want to import boilers and gear boxes via Wagha Border as the cost of import is much higher in Karachi. Sources told Customs Today that some traders have imported gear boxes for textile machinery via Wagha Border ... Read More »

Customs reveals another multi-million scam by Telenor

ISLAMABAD: The Directorate General Customs Intelligence and Investigation Islamabad has brought another mega scam of Rs 23 million duty evasion by Telenor into light. As per details, the customs has issued notice to the telecommunication service provider, Telenor, for its alleged involvement in another Rs 23 million duty evasion in mis-declaration/mis-classification. Telenor has assured the customs that they were ready ... Read More »

FBR to make e-filing of tax returns user friendly

SIALKOT: The Federal Board of Revenue (FBR) is removing flaws from E-filing system of tax returns submission to make it more user-friendly, to facilitate the business community and potential taxpayers. The FBR has launched an awareness seminar on “E-filing tax returns filing” at Gujranwala Chamber of Commerce and Industry (GCCI). The FBR chief of FATE Wing Islamabad Bukhtiar Muhammad, Secretary ... Read More »

Punjab fixes Rs 5.74 billion revenue target for Gujranwala

SIALKOT: The Punjab government has fixed a recovery target of Rs 5.74 billion as agricultural income tax, stamps duty, registration fees, land revenue tax and capital value tax on the sale, purchase and transfer of the properties and lands in Sialkot, Narowal, Gujrat, Hafizabad, Mandi Bahauddin and Gujranwala districts. According to the senior officials of the Board of Revenue Punjab, ... Read More »

Physical, mental health perquisite for nation’s efficiency: LCCI

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has organised a day-long seminar on “The Hidden Enemy” on Friday, in which a large number of people from different walks of life participated. LCCI Vice President Kashif Anwar and renowned Psychiatrist Dr GH Saqib Kalyani spoke on the occasion and marked the importance of physical and mental health. They pledged ... Read More »

PM, cabinet assure support to Bajwa on tax collections

ISLAMABAD: The Prime Minister Muhammad Nawaz Sharif instructed Federal Board of Revenue (FBR) Chairman Tariq Bajwa to start crackdown on tax evaders without any discrimination. He also told FBR chairman to broaden the tax net without taking any political pressure. As per details, FBR Chairman Tariq Bajwa has briefed the PM Nawaz and cabinet in a federal cabinet meeting on ... Read More »