Customs Quetta plans crackdown on under-invoicing

QUETTA: MCC Appraisement Quetta, MCC Preventive Quetta and Customs I&I Quetta have planned a well-coordinated and joint crackdown on under-invoicing of imported goods, which has been causing colossal loss to the national exchequer. Sources said Customs authorities in the first phase attempted to bring smuggled goods into the tax net… Continue reading

Under-invoicing related money laundering: Cases of POP Global Distribution and Technosol referred to Customs I&I

KARACHI: The Directorate of Post Clearance Audit (PCA) has forwarded around 40 more cases to Customs Intelligence and Investigation (I&I) of under-invoicing related money-laundering and fiscal fraud. PCA initiated scrutiny and analysis of last five year data comprising FIRs lodged for under-invoicing, mis-declaration and over-invoicing, Order-in-Originals and Contravention Reports served… Continue reading

Mis-declaration, under-invoicing cases to be processed under money laundering laws

KARACHI: The Directorate of Post Clearance Audit (PCA) has initiated scrutiny and analysis of last five year data comprising FIRs lodged for under-invoicing, mis-declaration and over-invoicing, Order-in-Originals and Contravention Reports served on importers and traders. The cases of under-invoicing, mis-declaration and over-invoicing would now be processed under Anti-Money Laundering Act… Continue reading

China Gezhouba Group Company caught evading government revenue through under-invoicing

KARACHI: The Directorate of Customs Intelligence and Investigation Karachi detected large scale tax evasion by M/s. China Gezhouba Group Company Limited, and recovered the evaded sum. [the_ad id=”31605″]Information was received through Director Irfan Jawed that M/s. China Gezhouba Group Company Limited were attempting to clear the goods declared as Machinery… Continue reading

FIR lodged against importer for mis-declaration

KARACHI: MCC Appraisement East has lodged an FIR against M/s Zulfiqar Traders to misdeclaring the description, quantity and imports of banned items in the garb of new and used miscellaneous items to evade duty and taxes. The accused namely Zulfiqar has been arrested. Information was received through Collector Nadeem Memon… Continue reading

Pakistan Customs implement measures to plug all revenue leakage loopholes

KARACHI: “Customs’ job is to eliminate under-invoicing and mis-declaration, so that revenue leakage can be avoided,” Member Customs (Operations) Owais Agha Jawwad said, and therefore, Pakistan Customs has implemented measures to plug all loopholes. [the_ad id=”32940″] A crackdown is launched against mis-declaration and under-invoicing while examination of imported consignments has been… Continue reading

M/s Flying Cement penalized for attempting to evade taxes

KARACHI: Customs Adjudication has imposed fine and penalty of Rs15.5 million on M/s Flying Cement Company Limited for attempting to evade government’s legitimate revenue through under-invoicing. According to details, M/s Flying Cement Company filed a Goods Declaration (GD) declared to contain 2nd partial shipment of plant and machinery for cement… Continue reading

SHC dismiss DIT appeal

KARACHI: A customs appellate bench of High Court of Sindh comprising Justice Aqeel Ahmed Abbasi and Justice Mrs Ashraf Jahan on Wednesday dismissed an appeal filed by DIT, Pakistan Customs against Position Systems. According to details, a consignment of the respondent was detained by Directorate of Intelligence& Investigations on ground… Continue reading

MCC Port Qasim comes hard on under-invoicing, mis-declaration to secure government’s revenue

KARACHI: MCC Port Qasim is keeping strict vigilance over the mis-declaration and under-invoicing practice, which several importers indulge in to evade government’s legitimate revenue. Collector Port Qasim Saeed Akram has advised Additional Collectors Khalil Yousfani and Yaseen Murtaza to keep strict vigilance to check mis-declaration and under-invoicing. Deputy Collectors Amjad… Continue reading

Reference values of ladies under garments notified

KARACHI: Director General Customs Valuation Syed Tanveer Ahmed devised a plan to streamline values of importable values to check under-invoicing, which is not only causing revenue loss to the exchequer, but it also has deprived the local manufacturing of level playing field. Directorate General of Customs Valuation has initiated an… Continue reading