Vehicles sales increased by 12% in 2015-16
KARACHI: Pakistan’s locally assembled vehicles sales have increased by 12 per cent to 257,600 units during last fiscal year 2015-16 mainly because of rising auto financing from Banks and other…
FBR reshuffles cost accountants
KARACHI: The Federal Board of Revenue (FBR) has notified transfers and postings of Cost Accountants (BS-19-20). Nawab Khan (Cost Accountant/BS-20) is moved from the office of Chief, (Pension Cell) Federal…
Footwear valuation : SHC adjourns hearing 19 identical Special Customs Reference Applications indefinitely
KARACHI: A Special Customs Appellate bench of High Court of Sindh (SHC) comprising Justice Irfan Saadat Khan and Justice Arshad Hussain on Tuesday adjourned hearing of 19 identical Special Customs…
SHC orders release of Q Mobile consignment imported by M/s Zawa Impex
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Justice Irfan Saadat Khan and Justice Arshad Hussain on Tuesday ordered that consignment of Q mobile phones imported by…
Ishaq Dar visits FBR House Islamabad
KARACHI: Federal Finance Minister Ishaq Dar visited the FBR House-Islamabad and appreciated the Board for the achieving the revenue collection target for the year 2015-16. FBR collected total revenue of…
FBR starts implementing new tax collection system
KARACHI: The Federal Board of Revenue (FBR) has started implementing new Hybird tax collection system to enhance speedy tax collection from July 1, 2016 throughout the country in place of…
Banks deposits declines after imposing WHT on all banking transactions
KARACHI: Owing to the imposition of withholding tax on all kind of banking transactions, the Bank’s deposits of the banking industry are declining since July 2015. Earlier, it was growing…
Smuggling narcotics becomes a family business
KARACHI: Authorities have arrested seven persons of a family for attempting to smuggle contraband narcotics worth millions, who have been sent to jail custody. The family was going to perform…
Heroin smuggling; Customs to investigate affairs of senior PIA management
KARACHI: MCC Preventive Karachi is expanding the circle of investigation towards the affairs of senior PIA management in Islamabad particularly pertaining to the recovery of heroin powder from the lavatory…
FBR given revenue collection target of Rs 3.601trn while LTUs to collect Rs 1.243trn in 2016-17
KARACHI: The federal government has given Federal Board of Revenue (FBR) a new tax collection target of Rs 3.601 trillion in the upcoming fiscal year (2016-17) while the Large Tax-Payer…
Chairman Customs Appellate Tribunal: SHC seeks para wise comments nu July 19
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Justice Irfan Saddat Khan and Justice Arshad Hussain on July 04, last working day of the week sought comments…
ABAD condoles demise of Abdul Sattar Edhi
KARACHI: Chairman Association of builders and developers Pakistan (ABAD) Muhammad Hanif Gohar, Patron in Chief Mohsin Shekhani, Senior Vice chairman Arif Yousuf Jeewa, Vice Chairman Rizwan Adhia, Chairman Southern region…
FPCCI condoles demise of Abdul Sattar Edhi
KARACHI: President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Abdul Rauf Alam, Sr. Vice President Khalid Tawab and the office bearers have expressed their deep sorrow…
DG Customs Valuation schedule meetings for determination of customs values of many goods
KARACHI: The Directorate General of Customs Valuation has scheduled meetings with importers, traders, industry representatives and other stakeholders almost everyday for the rest of month, as large-scale exercise is initiated…
DG Customs Valuation approach High Court against order of Appellate Tribunal
KARACHI: The Directorate General of Customs Valuation has approached Sindh High Court seeking stay against the order of Customs Appellate Tribunal that set aside Valuation Ruling No. 859/2016. The High…
SHC asks petitioner to submit registration book for release of vehicle
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Irfan Saddat Khan and Justice Arshad Hussain on Monday while adjourning hearing of a petition dismissed urgency application…
Cutting wire case: SHC orders release of undisputed part of consignment
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Irfan Saddat Khan and Justice Arshad Hussain on Monday allowed release of 44.66 metric tonnes of undisputed cargo…
ASO Lahore seizes smuggled goods
KARACHI: The Anti Smuggling Organization of Model Custom Collectorate Preventive, Lahore seized smuggled/non-duty paid vehicles and goods during the month of June 2016 valuing Rs51.331 million, which is many times…
Pakistan Customs’ revenue collection crosses Rs1.0 trillion mark
KARACHI: The revenue collection by Pakistan Customs crossed the trillion mark, as Pakistan Customs collected Rs1.076 trillion in the fiscal year 2015-16, up 16 percent as compared with the total…
Telenor avoids to pay WHT of $39.5m against 10MHz 4G license purchase
KARACHI: The Telenor Pakistan has total refused to pay 10 per cent Withholding Tax (WHT) amounting to $39.5 million and filed a petition in Islamabad High Court against government of…