LAHORE: The business community has called upon the Federal Board of Revenue (FBR) to defer the implementation of point of sale (POS) system till addressing all of their reservations. A delegation of Brandreth Road Traders Association told the Lahore Chamber of Commerce and Industry (LCCI) office bearers that the business community has no knowledge about the POS system. The delegation ... Read More »
LAHORE: A sessions court directed customs officials to return Czech model Tereza Hluskova’s passport and other belongings. The court ruled that the mobile phones, wallets and identity cards were not the case property and should be given back to Teresa. Customs officials seized Teresa’s belongings at the time of her arrest. The Model was arrested at the Lahore airport on ... Read More »
LAHORE: The Federal Board of Revenue (FBR) has introduced comprehensive changes in the licensing procedure for the shipping agents including responsibilities of the licensees. The FBR has amended Customs Rules, 2001. The revised provision of the qualification test for shipping agents revealed that now each applicant shall deposit a course fee of Rs500 for examination-related expenses in the respective account ... Read More »
LAHORE: The Federal Board of Revenue (FBR) has served a notice on famous singer Aima Baig for non-payment of Rs 85 million tax. According to the FBR, Aima Baig has not paid income tax for 2018, 2019 and 2020. In case of non-payment of income tax, the vehicle she has shown in her tax returns will be confiscated. In this ... Read More »
LAHORE: E-commerce is growing at an outstanding pace and expected to touch new peak at international level during the ongoing year. It is good to see that E-commerce industry in Pakistan is emerging rapidly but more attention should be given as it has the potential to act as a driving force for the economy. This was crux of the speeches ... Read More »
LAHORE: Punjab Revenue Authority (PRA) Chairman Zain Ul Abidin Sahi has said that local and foreign companies such as Google and Netflix which are providing services in Pakistan will soon be brought under the tax net and the authority is working on devising a suitable mechanism for it. The PRA chairman said this while addressing a meeting with the Journalists ... Read More »
LAHORE: Collectorate of Customs Appraisement Dryport Mughalpura Collector Mirza Mubashir Baig has issued office order for transfer and posting of following staff with immediate effect and until further orders: Jamil Akbar, Appraiser is transferred from Assessment Hall-LDP to Import examination Prem Nagar Ibrar Ibrahim, Appraiser is transferred from Assessment Hall, LDP to Car section-CFS Zohaib Riaz, Appraiser is transferred from ... Read More »
LAHORE: The shooters and facilitator were arrested for firing at FBR Deputy Commissioner. Police are investigating Rana Tafsir who hired shooters Ijaz, Musa Masih and their handlers. Raids are being carried out to arrest Usman Javed, the main accused in the incident. It is worth mentioning that the Punjab Chief Minister and IG Punjab had taken notice of the incident ... Read More »
LAHORE: The Federal Tax Ombudsman (FTO) Dr. Asif Mehmood Jah in pursuance of an Own Motion investigation, has directed the Customs authorities to clear the 8,522-pending auction-able lots within two months. The FBR Member Customs (Operations) Syed Mohammad Tariq Huda was further directed to personally monitor the compliance of above directions and initiate disciplinary proceedings against the collectors/directors who fail ... Read More »
LAHORE: State Bank of Pakistan Governor Reza Baqir has assured central bank’s full support in resolving issues of Oil Marketing Companies (OMCs) and promised to organise a meeting of the Oil Marketing Association of Pakistan (OMAP) with the Pakistan Banks Association (PBA). A delegation of OMAP office bearers including Chairman Tariq Wazir Ali, Senior Vice Chairman Tariq Mehmood, and Vice ... Read More »
LAHORE: Directorate of Customs Intelligence and Investigation (I&I) team has foiled an attempt to smuggle 6700 kilograms of foreign origin cloth worth Rs18.5 million. Sources told Customs Today that Director Customs Intelligence and Investigation Saima Aftab received credible information that huge quantity foreign origin cloth will be smuggled. She immediately constituted Customs team under the supervision of Superintendent Khalid Khan ... Read More »
LAHORE: Director General Customs Valuation Dr. Farid Iqbal Qureshi has said that the fixing of values of goods is an immense challenge but the department is dealing it in a winsome manner. “Customs Valuation department has an open-door policy for addressing all the grievances of the business community”, the DG said while speaking at a meeting at the Lahore Chamber ... Read More »
LAHORE: Federal Board of Revenue (FBR) Chairman Dr Muhammad Ashfaq Ahmed has advised the taxpayers to visit their nearest Regional Tax Office (RTO) and Collectorate of Customs for redressal of any problem confronted by them. In this connection, Chairman FBR has already instructed all field formations to resolve the outstanding issues of taxpayers and made it clear that any negligence ... Read More »
LAHORE: The Federal Board of Revenue (FBR) has decided to start an audit of the income tax and sales tax affairs of M/s Hascol Petroleum Limited and its senior management. It is reliably learnt that the audit of the tax affairs of the company would be started. The FBR’s relevant field office will also conduct an audit of the tax ... Read More »
LAHORE: To provide maximum facilitation to the business community, the Federal Tax Ombudsman constituted honorary positions of coordinators (Business Liaison) in the Federal Tax Ombudsman Offices at Islamabad, Karachi, Lahore, Peshawar, Quetta, Gujranwala, Multan, Faisalabad, Sialkot, Abbottabad, Sargodha and Sukkur with immediate effect. These positions will be honorary and pro bono without entailing any official financial expenditure. The honorary coordinators ... Read More »
LAHORE: On behalf of Pakistan Customs, the Pakistan Single Window Company on Tuesday signed an agreement with TradeLens, a blockchain-underpinned logistics platform to digitize import-export documentation of the containerized cargo moving in and out of the country. Pakistan’s international trade ecosystem is being rapidly transformed through the introduction of technology-driven initiatives led by the Pakistan Single Window and the country’s ... Read More »
LAHORE: Adviser to Chief Minister Punjab on Economic Affairs, Planning and Development Dr Salman Shah has said that Pakistan needs to develop urban economy, as the fastest urbanisation in the world is taking place in the country. He stated this in a meeting with business community including Lahore Chamber of Commerce & Industry on (LCCI) President Mian Nauman Kabir, former ... Read More »
LAHORE: Federal government has announced to present mini budget on Wednesday in the National Assembly. Speaking exclusively in Dunya News program “Dunya Kamran Khan Kay Sath”, he said Federal Minister for Information and Broadcasting Fawad Chaudhry said that the mini budget will be presented in the National Assembly on Wednesday. He said that the government is in talks with the ... Read More »
LAHORE: The Federal Tax Ombudsman (FTO) in pursuance of Own Motion (OM) investigation initiated while exercising powers conferred under Section 9(1) of the FTO Ordinance, 2000, to investigate irregularities committed by the FBR’s field formations in processing and sanctioning of bogus sales tax refund has ordered for initiation of disciplinary and criminal proceedings against the senior officers of Inland Revenue ... Read More »
LAHORE: Customs Court has issued orders to release importer Sajjad Butt on bail. According to the details, Customs Appraisement Lahore had seized two containers of the importer in a case of miss-declaration. Chaudhry Muzammil Kamboh appeared as counsel on behalf of the accused. However, after hearing full arguments from both the sides, the Customs Court has issued orders to release ... Read More »
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