FIR lodged against M/s Master Beverages & Food Limited in a multi-million...
KARACHI: MCC Port Qasim has finally lodged an FIR against M/s Master Beverages & Food Limited initiating criminal proceedings against the company pertaining to fiscal fraud. MCC Port Qasim has...
View ArticleBacklog at KICT reduced by 80 percent
KARACHI: The container backlog at Karachi International Container Terminal (KICT) has reduced by 80 percent with the joint efforts of MCC Appraisement West, KICT management and Karachi Customs Agents...
View ArticleSHC disposes of vehicle case as Custom pays 1 million to petitioner
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan Thursday disposed of a petition about an auctioned vehicle as Pakistan...
View ArticleSHC directs Director Valuation to hear importer, decide appeal about...
KARACHI: A divisional bench of High Court of Sindh (SHC), comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmd Khan on Thursday disposed of a constitutional petition by importer of pvc...
View ArticleSHC declares taxing services is provincial domain, declares Federal Excise...
KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Abdul Malik Gaddi declared the Federal Excise Act as ultra vire of the Constitution and that after...
View ArticleMCC Islamabad foils bid to smuggle foreign currency
ISLAMABAD: Airport Staff of Model Customs Collectorate Islamabad has seized foreign currency equivalent of Rs10.4 million, which was being smuggled out. Collector Arsalan Subuctageen is keeping strict...
View ArticleFTO tells Customs to respond to Sharjeel Jamal’s allegations
KARACHI: The Federal Tax Ombudsman (FTO) has advised MCC Appraisement West to submit a reply to the allegations leveled by Sharjeel Jamal of M/s U Trade that he was being subjected to discrimination by...
View ArticleContainer terminals invest to facilitate new SOLAS convention compliance
KARACHI: All the container terminals in Karachi have initiated service to weigh laden export containers as the new Safety of Life at Sea (SOLAS) convention takes effect on July 1, 2016. From July 01...
View ArticleSHC adjourns petition by clearing agent, ask for filing renewal
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan on Friday adjourned hearing in a petition filed by a customs clearing agent...
View ArticleSHC directs PTA to confirm EMI numbers of importer cellular phones
KARACHI: A divisional bench of High Court of Sindh (SHC) while holding contempt of court proceedings in a case of import of cellular phones, directed Pakistan Telecommunication Authority (PTA) to...
View ArticleSHC disposes of petition by used tyre importer, orders consignment into CPF bond
KARACHI: A divisional bench of High Court of Sindh (SHC) comprising Chief Justice Sajjad Ali Shah and Justice Zulfiqar Ahmed Khan on Friday disposed of a petition seeking release of the old and used...
View ArticleCustoms values of vacuum flasks revised
KARACHI: Director Customs Valuation Karachi Dr. Wasif Memon has revised the customs values of Vacuum flasks vide Valuation Ruling No.864/2016. It was known that values of vacuum flasks had increased in...
View ArticleAd-hoc relief of 50 per cent not merged into basic salary
ISLAMABAD: Although the federal budget for the financial year 2016-17 saw merger of two ad-hoc reliefs announced for the year 2013 and 2014 into basic salary of federal government employees, the major...
View ArticleFixed tax regime proposed for builders & developers
KARACHI: The Finance Bill 2016 seeks to introduce a unique non-income based Fixed Tax Regime for ‘Builders’ and ‘Developers’. Under this regime, tax liability for the builders and developers shall be...
View ArticleFederal Budget 2016 brings no policy change
KARACHI: The Federal Budget 2016 brings no major policy change in the taxation regime. Except for certain incentives for industrialization, most of the proposals relate to tax collection measures...
View ArticleSuper tax extended for another year
KARACHI: Federal government, through the Finance Bill 2016, has extended Super tax as applicable for tax year 2015 to tax year 2016 also. Through Finance Act, 2015, Super tax was imposed on banking...
View ArticleAvoidance of double taxation and prevention of fiscal evasions
KARACHI: The Finance Bill 2016 proposes to enable the Federal Government to enter into a tax treaty or tax information and exchange agreement or multilateral convention or inter government agreement or...
View ArticleSeparate tax rates for filer, non-filer mutual fund investors
KARCHI: Through Finance Bill 2016, the rate of tax on dividends from mutual funds is proposed to include separate rates for filers and non-filers. According to the proposes structure, individual...
View ArticleTax increased on foreign receipts
KARACHI: The governments intends to introduce multi-fold increase in the tax rate applicable, gross receipts from services rendered and construction contracts executed outside Pakistan. Presently,...
View ArticleNew tax regime for Pakistan cricket board
KARACHI: The government has proposed to tax income of Pakistan Cricket Board (PCB) derived from sources outside Pakistan at the rate of 4.0 percent. According to Finance Bill 2016, PCB’s income derived...
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