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Tag Archives: import

Customs issues valuation ruling of Methylene Chloride

KARACHI: The Directorate General of Customs Valuation has issued the Customs values of Methylene Chloride through Valuation Ruling No.679/2014 under Section 25-A of the Customs Act, 1969. The said Valuation Ruling has superseded the previous Valuation Ruling No.629 regarding the Customs values of Methylene Chloride. According to the details, the Customs values of Methylene Chloride having PCT Code 2903.1200 and ... Read More »

Customs I&I seizes 120,000 litres smuggled oil

Karachi: Directorate General of Intelligence and Investigation (I&I) Hyderabad seized oil tankers carrying sixty thousand litres of smuggled oil worth Rs 10 million. As per details, DG I&I on tip of informer raided oil tankers carrying smuggled oil and seized 60,000 litres oil. Three criminals have been arrested during the seizure. It was said that oil was being smuggled to ... Read More »

Red card: No more tax exemptions to NGOs/NPOs

ISLAMABAD: Federal Government has withdrawn the tax exemptions provided to education institutions running under NGOs, NPOs and welfare trusts. Instead of that they will now receive 100% tax credit facility equal to their payable tax but private charity institution that were not active in welfare efforts will not eligible for this privilege too. The three mandatory conditions to get 100% ... Read More »

CAC Pakistan summit & Agro Chemical Expo on August 5-6

LAHORE: China Agro Chemical (CAC) Pakistan Summit and Pak-China Agro Chemical Expo will be held on August 5-6, 2014 at Lahore Expo Centre. The President Lahore Chamber of Commerce and Industry (LCCI) Sohail Lashari at a press conference said that Punjab CM Shahbaz Sharif and Chinese Ambassador would attend the event Pak-China suit and expo. Mr. Lashari said that it ... Read More »

Multan Customs I&I seizes generators, vehicles worth Rs 11.2m

Multan Customs I&I seizes generators, vehicles worth Rs 11.2m Multan: Customs Intelligence and investigations (I&I) seized smuggled generators and vehicles worth Rs 11.2 million on charges of duty evasion. As per details, Multan Customs I&I confiscated the imported generator due to non-payment of customs duty along with mini trucks used in the smuggling of generator. Deputy Director Customs I&I Nisar ... Read More »

CHS vows relief efforts till IDPs back at home

LAHORE: Customs Health Society (CHS) President Dr. Asif Mehmood Jah assured that relief efforts for IDPs will continue until every IDP back at home at North Waziristan. He mentioned that the CHS has also dug out Thirty five (35) water wells in Tharparkar area of Sindh for provision of clean drinking water to more than 50,000 people of the area. ... Read More »

Customs I&I will hold auction on Wednesday

Multan: Multan Customs Intelligence and Investigation (I&I) will hold public auction of seized goods on Wednesday July 23. According to Customs Intelligence and Investigation the auction of seized goods will be held on Wednesday at Customs Intelligence and Investigation (I&I) office near Khanewal road. The Customs authorities were expecting handsome revenue from the auction, which is one of the main ... Read More »

Tight inspection: FBR to launch electronic monitoring system

ISLAMABAD: Federal Board of Revenue has decided to introduce electronic monitoring system SEMP to void the tax theft at manufacturing level. As per a FBR source the project of SEMP has been in preliminary stage and FBR will hire a private company who would start a pilot project very soon to implement it practically. FBR authorities were of the view ... Read More »

ANF recovers 17kg drugs, arrests 4

ISLAMABAD: Anti Narcotics Force seized 17 kg of drugs and arrested 4 culprits during its raids at airport, highways and bus stands. As per details, ANF has conducted raids in Islamabad, Faisalabad and Lahore and recovered 17kg capsules filled with charas and heroine. ANF also arrested 4 culprits and confiscated their vehicle. At main motorway tool plaza Lahore ANF, on ... Read More »

Costly imported fruits matching Ramazan demand

LAHORE: The import of apple and other fruits has supplemented the limited availability of local apple and other fruits and has enabled the market to match the high demand during Ramazan. However, the high price of imported fruits has shrunk the market as many consumers find it beyond their means. A random market survey revealed that apple from Thailand, the ... Read More »

Iran exports show 27% growth in first quarter

IRAN: Iran Customs Administration’s latest report revealed that country’s total export amounted to $24.245 billion in the first quarter of the current Iranian year from March 21(Jomeh: 1. Farvardin 1393) to June 20 (Shanbeh: 31. Khordad 1393), which shows 27 percent boost compared to the same period of last year. As per details, Iran sent abroad 25.518 million tonnes of non-oil ... Read More »

APMDA asks govt. for duty relaxation in used car import

ISLAMABAD: APMDA has asked the government to give relaxation in import duties to the dealers of used cars as import of used vehicles has fallen to 22,185 units in FY2013-2014 compared to 44,767 in FY2012-13 because of high import duty. According to All Pakistan Motor Dealers Association (APMDA), imports of 1301cc to 1,500cc cars stood at 2,646 units compared to ... Read More »

PCDMA announces election schedule for Executive Committee

KARACHI: The annual elections of the members of Executive Committee of Pakistan Chemicals & Dyes Merchants’ Association (PCDMA) for the year 2014-15 would be held on September 25, 2014. According to the elections schedule, the elections would be held at Karachi, Lahore and Faisalabad between 10:00 am to 6:00 pm on nine seats, released by the association. The polling venues ... Read More »

Duty structure for import of 888 items changed

ISLAMABAD: The government has changed the duty structure on import of over 888 items besides imposing 5 percent sales tax on products, plants and machinery. As per budget documents, the government has imposed 1pc customs duty on import of 500 items which likely to generate more than Rs500 million revenue. Prominent items slapped with duty include live animals including bulls, ... Read More »

Charging 17pc ST: Import consignments likely to pile up at ports

KARACHI: The charging of 17 percent sales tax on clearance of imported leather and textile goods likely to result in piling up of consignments at ports although Pakistan Customs is supposed to collect 17 percent sales tax imposed in budget 2014-15 from July 1. According to details, the government in the new budget has increased sales tax on the import ... Read More »

LCCI rejects FBR proposal to impose 1pc Special Excise Duty on import

LAHORE: The Lahore Chamber of Commerce and Industry on Tuesday took a strong exception to the Federal Board of Revenue for its proposal to impose 1 percent Special Excise Duty on the import and local manufacturing of goods in the upcoming budget (2014-15) and said that any such move would be resisted tooth and nail. In a statement, the LCCI ... Read More »