Concessions announced for electric cars
KARACHI: Federal Budget 2018-19 has announced a number of import concessions to promote use and manufacturing of environment friendly electric cars. The budget has proposed reduction of customs duty from…
Budget proposes Rs175 billion of subsidies
KARACHI: The federal budget 2018-19 has proposed to allocate a sum of Rs175 billion under subsidies and grants. A total estimate of subsidies for budget 2018-19 is 0.5 percent of…
Pakistan Customs’ revenue collection grows by 14 percent in six months
KARACHI: The overall revenue collection by Pakistan Customs South in the fiscal year so far i.e. six months (July-December 2017-18) stood at Rs551 billion, up 14 percent as against Rs482…
Customs Quetta detects revenue evasion of Rs105.325 million on tile import
KARACHI: Customs has detected revenue evasion of RS105.325 million on import of tiled through Custom house Taftan, while both MCC Quetta and Directorate of Customs Intelligence Quetta are claiming the…
Customs South revenue collection surges 18 percent
KARACHI: The overall revenue collection by Pakistan Customs South in the fiscal year so far i.e. four months (July-October 2017-18) stood at Rs367 billion, up 18 percent as against Rs310…
MCC Lahore surpasses revenue collection target
KARACHI: Model Customs Collectorate (Appraisement), Lahore has collected Rs. 3185 million as Customs Duty during October, 2017 compared to Rs. 1998 million of October last and thus registered growth of…
MCC Port Qasim recovers Rs6.3 million
KARACHI: MCC Port Qasim has recovered a sum of Rs6.3 million, which M/s Eman Enterprises had evaded through clearing servo motors in the garb of sewing machine motors and parts.…
Revenue collection at Customs South surges 16 percent
KARACHI: The overall revenue collection by Pakistan Customs South in the fiscal year so far i.e. three months (July-September 2017-18) stood at Rs267 billion, up 16 percent as against Rs230…
IRS initiates campaign targeting individuals involved in concealment of wealth, money laundering
KARACHI: Inland Revenue Intelligence & Investigation (I&I) has initiated a crackdown against individuals including property traders, importers, school owners and cloth designers who have been fraudulently concealing their income to…
MCC Port Qasim foils bid to evade government revenue
KARACHI: MCC Port Qasim has foiled a bid to evade duty and taxes amounting to Rs10.25 million by M/s Al-Aziz & Co through mis declaration. M/s Al-Aziz filed Goods Declaration…
MCC Port Qasim foils attempt to evade government revenue
KARACHI: MCC Port Qasim has served a contravention report on M/s Chaudhry Steel Re-rolling Mills Pvt Ltd for attempting to evade government revenue through misdeclaring description of imported goods. M/s…
Pakistan Customs South delivers 13.4 percent revenue collection growth
KARACHI: Pakistan Customs South region made a remarkable performance in the fiscal year ended June 30, 2017 as the Customs duty collection surged by a significant 13.4 percent to Rs295.616…
MCC Quetta surpasses revenue collection target
KARACHI: MCC Quetta has surpassed its revenue collection target by Rs678 million set for the outgoing fiscal year 2016-17. According to details, MCC Quetta was assigned revenue target (in all…
Lahore shines in FY17 surpassing revenue collection targets
KARACHI: Under the dynamic leadership of Collector Preventive Lahore, Dr Zulfiqar Ali Chaudhry, MCC Preventive Lahore has not only surpassed the target of customs duty collection but the overall revenue…
Customs Appraisement South’s revenue collection surpasses $10 billion
KARACHI: The Customs Appraisement-South region working under the overall supervision of the Member Customs, Muhammad Zahid, has shown extraordinary growth in the collection of Customs Duty, Sales tax, withholding tax…
MCC Preventive Lahore surpass revenue collection target
KARACHI: In pursuance of policy guidelines issued by Zulfikar Ali Chaudhary, Collector of Customs, Model Customs Collectorate (Preventive), Lahore, all the officers and staff of field formations of the Collectorate…
Rs4.778 trillion federal budget 2017-18 unveiled
ISLAMABAD: Finance Minister Ishaq Dar presented the federal budget for the fiscal year 2017-18 today with an estimated outlay of Rs 4.8 trillion. The national budget, the last by PML-N…
Rs 217.5 million set aside for Textile Industry Division
ISLAMABAD: The federal government has laid a special emphasis on development of textile sector amd has allocated Rs 217.5 million for Textile Industry Division under the Public Sector Development Programme…
PML-N steered Pakistan out of default : Dar
ISLAMABAD: Pakistan was on the brink of technical default on its financial commitments with forex reserves at a historic low covering only two weeks’ worth of imports when PML-N government…
Raw material import limit enhanced
KARACHI: Government of Pakistan has announced enhancement in limit for importing raw material by manufacturers without collection of income tax at the import stage. Presently, the quantitative limit for import…