435 cases pending before Customs Court due to unavailability of judge
KARACHI: As many as 425 cases are pending before the Special Customs and Taxation Court, which has become vacant with the retirement of Special Judge Soofia Latif on October 10,…
Customs approach SHC against absolving of Customs agents by Tribunal in Afghan Transit scam
KARACHI: The MCC Appraisement West has also approached Sindh High court (SHC) against orders of Customs Appellate Tribunal in 18 cases, in which a large number of clearing agents were…
Customs values of Formic Acid revised
KARACHI: The Directorate General of Customs Valuation has revised the values of Formic Acid (HS Code: 2915.1100) vide Valuation Ruling No. 703/2014. A reference from Pakistan Chemical Dyes Merchants Association…
Appellate Tribunal strikes down fine/penalty imposed on fabric importer
KARACHI: The Customs Appellate Tribunal has limited the additional demand created against a fabric importer to adjudged duty/taxes; fine and penalties imposed were struck down. According to the details of…
Appellate Tribunal strikes down the demand created against tile importer
KARACHI: The Customs Appellate Tribunal has struck down the additional duty/tax demand created by Customs authorities against a tile importer. According to the details of the case, M/s home Life…
FBR, Customs committed to recover revenues evaded through Afghan Transit containers pilferage scam
KARACHI: The Federal Board of Revenue (FBR) and Customs are quite committed to recover government revenue to the tune of billions of rupees evaded under the Afghan Transit scam. The…
Fabric importer charged for misdeclaring weight and value of consignment
KARACHI: The Customs Appellate Tribunal has dismissed the appeal of an importer who had been imposed fine and penalty by Customs Adjudication for misdeclaring weight and value of the consignment.…
Convention for avoidance of double taxation treaty between Pakistan and Singapore
KARACHI: Pakistan and Singapore have signed a convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income on April 13, 1993.…
Convention for avoidance of double taxation treaty between Pakistan and Saudi Arabia
KARACHI: Pakistan and Saudi Arabia have signed a convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income on February 2,…
Convention for avoidance of double taxation treaty between Pakistan and Philippines
KARACHI: Pakistan and Philippines have signed a convention for the avoidance of double taxation and the prevention of fiscal evasion with respect o taxes on income on February 22, 1980.…
Karachi Tax Bar seeks one month extension for filing income tax return
KARACHI: Tariq Bajwa, Chairman, Federal Board of Revenue (FBR) has been urged to extend the date up to December 31, 2014 for filing of income tax returns as submitting forms…
Tribunal finds confiscation of import consignment by Appraisement without lawful authority
KARACHI: The Customs Appellate Tribunal has dismissed the appeal filed by Appraisement East against order-in-appeal, in favor of M/s Decent Autos who imported consignment of aerosol insecticide spray. According to…
Convention for avoidance of double taxation treaty between Pakistan and Malaysia
KARACHI: Pakistan and Malaysia have signed a convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income on May 29, 1982.…
Teams constituted for preparation of customs import manual
KARACHI: Muhammad Saleem, Collector Modern Customs Collectorate (MCC) Appraisement (West) has constituted three teams to prepare customs import manual considering the present needs for the guidance of customs staff. Sources…
No columns for foreign currency in wealth statement: KTBA pinpoints irritants
KARACHI: Karachi Tax Bar Association (KTBA) has pointed out serious irritants in the income tax return and wealth statement forms as it informed Tariq Bajwa, Chairman, Federal Board of Revenue…
FBR grants concession on imported machinery to be used for setting up power units
Karachi: The Federal Board of Revenue (FBR) has made amendment in Customs General Order for concession on imported machinery which used to set up new power units. A circular said,…