I&I Lahore passes all previous achievements

LAHORE: The anti smuggling performance of the Directorate of Customs Intelligence and Investigation Lahore during the current financial year (2020-21) has passed all previous achievements by framing 107 seizures involving an amount of Rs2.21 billion. Led by Director Asad Rizvi and Additional Director Hassan Farid, I&I Lahore rendered unremitting, and… Continue reading

FBR identifies 7.4 million potential non-filers: Waqar Masood

ISLAMABAD: Special Assistant to Prime Minister on Revenues, Dr Waqar Masood, has said Federal Board of Revenue identified 7.4 million potential non-filers. These people undertook multi-billion rupees transactions and paid withholding taxes for purchasing properties, vehicles and other luxurious items but refused to come into the tax net. “In the… Continue reading

IPR Enforcement South seizes counterfeit Suzuki and Toyota auto air bag covers

KARACHI: Directorate of IPR Enforcement South has detained a consignment of Auto Air Press Horn-pad cover (Auto Air bag covers) of Toyota and Auto Adhesive Decoration Logo of Suzuki, on the complaint of M/s Indus Motor Company. M/s Indus Motors Company filed an IPR enforcement application against the import of… Continue reading

Khurram, owner of M/s Laiba Industries arrested

KARACHI: Customs Intelligence and Investigation (I&I Karachi) has arrested one Khurram owner of M/s Laiba Industries (Pvt) Ltd, who was wanted for illegally removing goods from Export Processing Zone (EPZ) to local markets and warehouses. Director Yaqoob Mako had tasked Additional Director Rana Tasleem to arrest the prime accused i.e…. Continue reading

5.0% regulatory duty on cotton yarn import abolished

KARACHI: The government has abolished five percent regulatory duty on yarn import amid anticipated shortage of the industrial input on falling cotton output in the country. The Economic Coordination Committee (ECC) of the cabinet decided to remove the regulatory duty on import of cotton yarn till 30 June next year… Continue reading

SHC defers petition seeking mutilation of goods

KARACHI: A request to allow mutilation of goods was deferred till Dec 09 by a custom appellate bench of High Court of Sindh (SHC) allowing time to petitioner side for submitting rejoinder. The bench earlier heard Sohail Muzaffar advocate who requested the court to allow mutilation of the goods imported… Continue reading

FBR tax collection up 3.8% to Rs1.68 trillion in July-November

ISLAMABAD: The Federal Board of Revenue (FBR) tax collection went up 3.8 percent to Rs1,688 billion in the first five months (July-November) of the current fiscal year, compared to Rs1,623 billion collected in the same period of the last fiscal year, a statement said on Tuesday. The collection was higher… Continue reading