Under-invoicing of imported tea causes Rs5.0 billion loss to exchequer annually

KARACHI: It is estimated that around Rs5.0 billion is evaded on the import of tea every year, as high value tea is grossly under-invoiced. Sources said valuation of tea was very complex as the commodity is auctioned at the exporters’ market in India, Sri Lanka, Kenya, Vietnam etc., and the… Continue reading

SHC strikes down section 5 of the Income Tax Ord 2001

KARACHI: An appellate bench of High Court (SHC) struck down section 5(A) of the Income Tax Ordinance 2001 for being ultra vires of the Constitution. The bench in its judgment declared that insertion of section 5A in the Income Tax Ordinance 2001, including amendments thereto from time to time, does… Continue reading

Customs Hyderabad seizes smuggled betel nut

HYDERABAD: Customs Hyderabad has seized 20 tons of smuggled betel nut, which was being transported from Quetta to Karachi in a 10-wheeler truck. Information was passed through Collector Abdul Qadir Memon that smuggled goods would be moved from Quetta to Karachi, and subsequently the vehicle was intercepted at Jamshoro. The… Continue reading

SHC allows petitions challenging input tax claims

KARACHI: An appellate bench of High Court of Sindh (SHC) allowed eleven identical petitions filed by Total Parco Pakistan Limited, Kirthar Pakistan B. V, Proctor and Gamble Pakistan and ENI Pakistan Limited impunging Show cause notices in respect of input tax claims. Hyder Ali Khan advocate appearing for the Petitioners… Continue reading

Assistant Collectors Shafiullah tasked to arrest persons attacking Customs staff

KARACHI: On the directives of Collector Preventive Saquif Saeed, Additional Collector Haroon Malik has formed three teams led by Assistant Collector Shafiullah to arrested the traders/smugglers involved in attacking and shooting Customs staff in Bolton market. MCC Preventive has lodged an FIR against several persons for creating obstruction and hindrance… Continue reading

Differences in Pakistan Tea Assoction Acting Chairman PTA resigns in protest over alleged custom duty evasion 

KARACHI: Abdul Majeed Paracha, Acting Chairman Pakistan Tea Association (PTA) tendered resignation from post of Acting Chairman in protest over valuation or amount of customs duty payable on imported tea. In a letter addressed to the Secretary  General of PTA, Mr Majeed Paracha referred to a meeting held on request… Continue reading

SHC allow petitions by service providers

KARACHI: An appellate bench of High Court of Sindh (SHC) allowed a bunch of petitions, 28 in all through a common order in favor of service providing companies against levy and deduction of Withholding Tax under Section 153 (1) (b) of the Income Tax Ordinance, 2001 (“Ordinance”) on the gross… Continue reading

Customs Intelligence and Investigation seizes 139,000 liters of smuggled diesel

QUETTA: Customs Intelligence and Investigation Quetta has recovered 139,000 liters of smuggled diesel of Iran origin from several vehicles, which was being transported to various distribution centers in the country. The value of the seized commodity comes to Rs10.7 million approximately. The vehicles used in the transportation of the smuggled… Continue reading

Customs Quetta recovers smuggled goods worth Rs100 million

Quetta: Quetta Customs has seized large quantity of smuggled goods, which were being transported in two vehicles near Lakpas, Pubjab-Baluchistan border. In line with the policy of Federal Board of Revenue (FBR), Chief Collector Quetta Gul Rehman is pursuing a rigorous anti-smuggling campaign. Information was passed through Collector Irfan Javed… Continue reading

Directorate General IPR celebrates World IPR Day

KARACHI: Directorate General IPR, along with all the three Directorates of IPR including Nyma Batool, Muneeb Sarwar and Mubashir Baig,  celebrated The World IPR DAY, along with the rest of the World, on 26 April 2021. In line with WIPO program;the Directorate of IPRE is playing a critical role of… Continue reading