Valuation for betel nuts fixed at $1.1/kg
KARACHI: The Directorate General of Customs Valuation has determined the customs values of betel nuts up to $1.10 per Kilogram for the duty collection, according to a notification. The following…
Bonded carrier ordered to pay Rs247 million in pilferage of NATO, ISAF POL products
KARACHI: Collectorate of Customs (Adjudication) has ordered a recovery of Rs247 million from a bonded carrier, who found involved in pilferage of POL products meant for ISAF and NATO supplies…
Pakistan Economy Forum term valuation rulings issued by Appraisement south as illegal, flawed
KARACHI: The Pakistan Economy forum has criticized the valuation guidelines issued by Collector Appraisement-South pertaining to 96 items for which the rulings had been lost. Arshad Jamal, Chairman Pakistan Economy…
FBR urged to revisit amendments in sales tax laws
KARACHI: The Federal Board of Revenue (FBR) has been urged to revisit the amendments brought in to sales tax laws in the recent pasts that are causing problems for taxpayers…
Auction of seized vehicles to be held Dec 04 at Gaddani
KARACHI: Pakistan Customs to conduct auction of seized vehicles on December 04 lying in state warehouse at Custom House, Gaddani. The vehicles are included: Mitsubishi Pajero 2800CC (old registration) Toyota…
DG I&I confiscated goods auction on December 02
KARACHI: The auction of vehicles and goods confiscated by Directorate General of Intelligence and Investigation – FBR to by held on December 02, 2013 at CPF Bonded Warehouse, Rasheedabad, Karachi.…
Supreme Court endorses legality of Division I of Part I of the First Schedule to the Income Tax Ordinance 2001; SHC judgment struck down
KARACHI: The Supreme Court of Pakistan (SCP) has suspended the judgment of Sindh High Court dated October 25, 2013 and endorsed the legality of Division I of Part I of…
Orders to waive demurrage still not implemented: KCAA
KARACHI: Karachi Customs Agents Association (KCAA) has informed that port demurrage waiver still not implemented due to the absence of any clear policy, which was ordered earlier by the port…
Customs collectorates to remain open on Saturdays
KARACHI: The Federal Board of Revenue (FBR) has announced that all the customs houses will remain open on all Saturdays to facilitate trade and industry. In a notification issued Tuesday,…
FBR selects IRS officers BS-20 for National Security and War Course 2014-15
KARACHI: The Federal Board of Revenue (FBR) has selected officers of Inland Revenue Services (IRS) of BS-20 for National Security and War Course at National Defence University starting first week…
Rs204 million recovered in anti-smuggling drive; Pakistan Customs searches main financiers
KARACHI: Pakistan Customs has recovered smuggled goods worth Rs204 million and arrested several persons in the anti-smuggling drive and launched investigation to identify the real financiers, which resulted in dent…
Customs, Inland Revenue offices asked to recover Rs10.27 million from Usman Steel
KARACHI: The Regional Tax Office (RTO) Lahore has advised customs authorities and other inland offices in Lahore that the government dues amounting to Rs.10.27 million in form of sales tax…
Ports and shipping authorities are responsible for Fixation of service charges, FBR said
KARACHI: Fate Wing of the Federal Board of Revenue (FBR) has directed the Awan Law Associates Karachi to take up the issue of fixation of service charges on goods with…
Customs, Inland Revenue offices asked to recover Rs10.83 million from Tariq Steel
KARACHI: The Regional Tax Office (RTO) Lahore has advised customs authorities and other inland offices in Lahore that the government dues amounting to Rs.10.83 million in form of sales tax…
Large-scale crack down to be launched against smuggled goods in first phase: Tariq Huda
KARACHI: In compliance with the directives of Honorable Supreme Court of Pakistan regarding coordinated and joint efforts against illegal movement of smuggled and contraband goods, Pakistan Customs in coordination with…
Plea rejected to downward valuation of Red Bull energy drink
KARACHI: The Directorate General of Customs Valuation has rejected the plea of Aula Private Limited Karachi – the importer of Red Bull energy drink – seeking downward review against the…
Customs, Inland Revenue offices asked to recover Rs20.65 million from Noorani Steel
KARACHI: The Regional Tax Office (RTO) Lahore has advised customs authorities and other Inland Offices in Lahore that the government dues amounting to Rs.20.65 million in form of sales tax…
61 petrol pumps selling smuggled POL products demolished; Customs launches operation to comply Supreme Court orders
KARACHI: Pakistan Customs, in joint operation against smuggled oil sales at various fuel stations, on Sunday demolished 61 petrol pumps and confiscated plant and machinery besides seizing thousands of liters…
Banks have potential to contribute more tax revenue by expanding services: FBR research
KARACHI: Federal Board of Revenue (FBR) said that Pakistan’s financial system has potential to generate more revenue by expanding services. The banking system is making huge profit and bringing more…
FBR web-portal malfunctioned, taxpayers unable to file returns online
KARACHI: Karachi Tax Bar has demanded the Federal Board of Revenue (FBR) to allow filing of income tax returns as its members were unable to filer returns due to slow…