KARACHI: The court of Special Judge, Customs, Excise and Taxation Karachi acquitted an accused Muhammad Ismail son of Raza Muhammad in a case registered against him under section 156(1) (89) of Customs Act 1969. The accused was booked on charge of claimant/owner of an alleged smuggled Toyota Mark-X car bearing… Continue reading

FPCCI rejects over Rs700b new taxes in Budget 2021-22 under IMF deal

The Federation of Pakistan Chambers of Commerce and Industry has rejected the government’s plan of imposing additional taxes of over Rs700 billion in the upcoming federal budget 2021-22 under the International Monetary Fund’s deal. The FPCCI’s Businessmen Panel Chairman and apex chamber ex-president Mian Anjum Nisar said that the government… Continue reading

Pakistan International Bulk Terminal sets record for handling more than 1 million tonnes of coal in December

Karachi: Pakistan International Bulk Terminal (PIBT) handled a record 1.04 million ton of coal cargo in December 2020, which is 32 percent more than 0.791 million ton cargo handled in December 2019. This is the first month that the terminal volumes have crossed a million tons–solidly establishing PIBT as the… Continue reading

KCCI requested to assist in dealing with exorbitant duties, taxes on motorcycle spare parts

KARACHI: A delegation from All Pakistan Motorcycle Spare Parts Importers & Dealers Association (APMSPIDA), while highlighting some major issues being faced by APMSPIDA members, sought KCCI’s assistances in convincing the authorities to reduce the exorbitant duties and taxes particularly 35 percent Custom Duty and 11 percent Additional Duty on import… Continue reading

Overseas Investors Chamber of Commerce and Industry asks government to consolidate all federal taxes

ISLAMABAD: The Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the authorities to consolidate all federal taxes, including income tax and levies like Workers Welfare Fund, Workers Profit Participation Fund in one lump sum to make the system more efficient and business friendly. The association has also asked… Continue reading

Eradicate corruption, make appointments on merit in custom Appellate tribunal, says lawyers

KARACHI: The lawyers practising on customs, inland revenue have advocated purging the custom Appellate tribunal of  corruption and instead of disbanding it improve the same by appointing members and chairman on merit alone.   They were expressing their views in the backdrop of an interview by federal law Minister Dr Farogh… Continue reading

SHC stays recovery notice in respect of 2010 Generator import

KARACHI: The authorities of Pakistan Customs were restrained from effecting a recovery in respect of a generator imported in 2010. The order was passed by a customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Mahmood A Khan here on Friday. The bench… Continue reading

SHC issue notices in alleged harassment by customs IO Pre-admission notices issued in alleged harassment case

KARACHI: A customs appellate bench of High Court of Sindh (SHC) issued pre-admission notice for Feb 06 in a petition filed by one Muhammad Junaid, a clearing agent against alleged harassment by Investigating Officer (IO) in two FIRs registered against the petitioner. Iftikhar Hussain advocate appeared for the petitioner and… Continue reading

SHC restrains customs IO from registration of FIR Fabrics case

KARACHI: A customs appellate bench of High Court of Sindh (SHC) on Monday restrained an Investigating Officer of Pakistan Customs from lodging FIR against petitioner company Welcome Services. The bench earlier heard the counsel for petitioner company who prayed for benefit of section 32B (Compounding of offence) of the Customs… Continue reading

DIT forwards 11 contravention reports to Adjudication Collectorate II EPZ steel sheets, evasion cases worth rupees 82,674,011

KARACHI: Irfan Javed, Director, Directorate General of Intelligence and Investigations (DIT), Pakistan Customs has forwarded eleven (11) contravention reports against Ms Zubair Steel, Ms Muhammad Rizwan and Brothers and others on charges of alleged evasion of duty, taxes and others worth rupees 82,674011. In a letter dated Jan 06, 2020,… Continue reading