KARACHI: Serious irregularities have been detected in the new valuation ruling for customs duty on import of ready-made garments as it has open the doors for corruption and incurring huge monetary losses to public exchequre. Customs sources said that the Valuation Ruling No. 489/2012 dated November 07, 2012 was implemented… Continue reading
KARACHI: World Customs Organisation (WCO) has updated ‘Commercial Fraud Typologies Summary’ to provide the member countries, including Pakistan, better ideas of common methods particularly to the respective nature of commercial fraud offences linking both together.The WCO said that the revenue implication of commercial fraud for members around the world is… Continue reading
KARACHI: The Federal Board of Revenue (FBR) has extended the last date for payment of taxes/duty and filing of sales tax / federal excise duty returns for the period April 2013 for all registered persons. In a notification issued Wednesday, the FBR extended the date of payment and filing of… Continue reading
KARACHI: The Federal Board of Revenue (FBR) has decided to recover Rs807 million as concealed amount of duty and taxes including additional surcharge on import of three tugs acquired by Port Qasim Authority. The FBR examined the available exemptions under Merchant Shipping Ordinance, 2001 and clarified that exemption of customs… Continue reading
KARACHI: The anti-smuggling unit of Model Customs Collectorate (MCC) Gwadar has made seizure of huge smuggled goods worth around Rs47 million on Wednesday. Details revealed that the unit of MCC Gwadar seized a passenger bus (coming from Quetta to Karachi) on information that huge quantity of goods being smuggled into… Continue reading
KARACHI: Pakistan Customs hold a press conference to share the huge recovery of contraband Indian Gutka worth Rs129.24 million with the print and electronic media on Wednesday. Chief Collector (South) Mohammad Yahya, Collector PaCCS Amer Ahmed, Deputy Collector Shahab Imam, Principal Appraiser Shafiullah and Principal Appraiser Shahid Rizvi and other… Continue reading
KARACHI: The Federal Board of Revenue (FBR) has failed to entertain hundreds of applications seeking amnesty for legalizing smuggled and non-duty paid vehicles on the last day of the facility. Customs sources said that the as per announcement the FBR had not extended the date and all those vehicles that… Continue reading
KARACHI: The recovery of billions of rupees in cases of misusing exemption regime has been put at stake as top brass of Federal Board of Revenue (FBR) is sheltering the officials involved in corrupt practices, sources said. Recently, Pakistan Customs has unearthed billions of rupees scam under which traders grossly… Continue reading
KARACHI: The duty and tax collection of Pakistan customs posted a marginal increase of 2.2 percent during first eight months of current fiscal year owing to fall in sales tax and federal excise duty collection. The collection of duty and taxes from import and exports consignment clearance recorded at Rs208.48… Continue reading
KARACHI: Sindh High Court has suspended an FIR against owners of M/s Muqeet Brothers till March 19, 2013 and directed that no arrest or investigation whatsoever shall be made on this FIR without permission of the court. It is further directed that business premises of the petitioner shall be immediately… Continue reading
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