ISLAMABAD: The National Database and Registration Authority (Nadra), Islamabad Dry Port’s Recovery Cell and banks are working together for recovery of evaded taxes in various cases under the Customs Act, 1969.
Islamabad Customs Assistant Collector Amanat Ali Khan stated this while talking to Customs Today, adding that the cell was working with different banks, including National Bank of Pakistan to develop a strategy for recollection of pending and evaded taxes.
Talking about a meeting held at Islamabad Chamber of Commerce and Industry (ICCI) where Islamabad Customs Collector Dr Arslan Subuctageen, assistant collector and deputy collectors were present, he said that many things were discussed during the meeting.
Both of sides agreed to build better understanding between business community and customs officials to boost the imports and exports in new financial year 2016-17.
He said that the rate of duty/taxes has been decreased on many import items, adding that such measures will definitely boost the trade. The business community will prefer to import those items on which duty/taxes decreased in Budget 2016-17, he said.
However, increase in customs duties and other taxes on some import items may cause of negative effect on collection of revenue, he added.
He said that tenders have been finalised for installation of weighbridge (Precise measurement and easy setup for static or dynamic weighing) with collaboration of Pakistan Railways and it will be installed soon.
Amanat said that the Islamabad Dry Port will achieve its set target of revenue under the head of customs duty, sales tax and other taxes during current fiscal year 2016-17.
