Customs Quetta plans crackdown on under-invoicing

QUETTA: MCC Appraisement Quetta, MCC Preventive Quetta and Customs I&I Quetta have planned a well-coordinated and joint crackdown on under-invoicing of imported goods, which has been causing colossal loss to the national exchequer.

Sources said Customs authorities in the first phase attempted to bring smuggled goods into the tax net through facilitating the traders wherever needed. Due to such policy measures smuggling of several goods such as spices, tiles, dry fruit were brought into the tax net.

Moreover, through the coordinated efforts of Quetta collectorates and directorate, mis-declaration has already been curbed. Export of wheat and sugar to Afghanistan in the garb of mis-declaration has also been stopped.

Now, as the phase-II, the authorities have planned a crack-down on under-invoicing.

Chief Collector Gul Rehman is monitoring the entire campaign. Collector Preventive Irfan Javed and his team led by Deputy Collector Akbar Jan will tighten grip on smuggling, while on the appraisement side, Collector Waheed Marwat and his team led by Additional Collector Aftab Shah, Assistant Collector Esha Rahim will keep strict check on under-invoicing.

More importantly, Director I&I Muhammad Ismail with his team led by Deputy Director Amjad Rajpar will identify revenue leakages in coordination with Appraisement Collectorate.

The government loses a large amount of revenue in the form of customs duties and export taxes through trade misinvoicing. The economy is deprived of domestic capital that is transferred abroad, which could otherwise be invested domestically. This results in a decline in economic growth due to lack of capital.

Bookmark the permalink.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • RSS Newsnreleases

    • Morgan Stanley’s Antwerp Management buying Augean Plc for £314.9mn 30-Jul-2021
      LONDON, UK: Antwerp Management Limited, a newly-incorporated company indirectly owned by funds managed or advised by Morgan Stanley Infrastructure Inc.... Continue reading The post Morgan Stanley’s Antwerp Management buying Augean Plc for £314.9mn appeared first on NewsnReleases.
    • Heineken assumes control of United Breweries Limited 30-Jul-2021
      AMSTERDAM, Heineken N.V. has obtained control of United Breweries Limited (UBL) in India following recent acquisition of additional ordinary shares in UBL, taking its... Continue reading The post Heineken assumes control of United Breweries Limited appeared first on NewsnReleases.
    • Dicker Data to acquire Exceed Group for $68 million 30-Jul-2021
      SYDNEY, AUSTRALIA: Dicker Data Limited has entered into a binding Sale and Purchase Agreement (SPA) to acquire the Exeed Group operating across Australia and... Continue reading The post Dicker Data to acquire Exceed Group for $68 million appeared first on NewsnReleases.
    • Magnit starts making ready-to-eat products for convenience stores 30-Jul-2021
      KRASNODAR, RUSSIA: Magnit PJSC, one of Russia’s leading retailers, started making ready-to-eat products for its convenience stores in Magnit Family... Continue reading The post Magnit starts making ready-to-eat products for convenience stores appeared first on NewsnReleases.
    • Qatar Holding buys stake in Airtel Africa’s mobile money business 30-Jul-2021
      LONDON, UK: Qatar Holding LLC, an affiliate of the Qatar Investment Authority (QIA), has agreed a minority stake in Airtel Mobile... Continue reading The post Qatar Holding buys stake in Airtel Africa’s mobile money business appeared first on NewsnReleases.