FBR proposes retaining machinery for five years by EPZ investors for duty, tax free disposal

KARACHI: Federal Board of Revenue (FBR) has proposed retaining period of machinery to five years imported by exporters for disposing of without duty and taxes. Read more »

Powers to form Customs tribunal shifted to Prime Minister

KARACHI: The Finance Bill 2019 has proposed to shift the powers to form Customs Appellate Tribunal from the federal government to the Prime Minister. Read more »

Finance Bill 2019: GD filing limit reduced to 10 days

KARACHI: The government has reduced the goods declaration filing limit from 15 days to 10 days by proposing amendment to Section 79 of Customs Act, 1969. Read more »

Finance Bill, 2019: 10 years imprisonment for money laundering through foreign trade

KARACHI: The government has taken harsh stance on money laundering through foreign trade and proposed 10 years imprisonment for persons involved besides confiscating consignments. Read more »

Customs law amended to recover unpaid amount from exporters

KARACHI: The government has put a check on exporters related to unpaid amount of duty and taxes at the time of export clearance and amended law to recover the same. Read more »

Collectors’ power to determine customs values withdrawn

KARACHI: The government has withdrawn the power of Collector of Customs in determination of customs value on his own motion through Finance Bill 2019. Read more »

Maintaining five-year record of international trade mandatory under Customs Act

KARACHI: Importers, exporters and other stakeholders related to international trade are required to maintain transactions record for at least past five years. Read more »

FBR launches Urdu version of Customs Act

ISLAMABAD: Federal Board of Revenue (FBR) has launched the first Urdu Version of the Customs Act, 1969 for the convenience and benefit of the traders and the business community. Read more »

Customs Valuation under Customs Act, 1969 – Urdu version

25A ۔ کسٹم کی مالیت کا تعین کرنے کا اختیار۔ ( 1 ) دفعہ ۲۵ میں موجود کسی امر کے باوجود، کسٹم کلکٹر ازخورد یا ڈائریکٹر کسٹم ویلیوایشن اپنے طور پر یا... Read more »

FBR issues first Urdu version Customs Act 1969

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday launched first Urdu version of Customs Act, 1969 for the facilitation of traders and business community. Read more »

Customs imposes 10pc fine for releasing unregistered phones

KARACHI: The Federal Board of Revenue (FBR) on Wednesday imposed a fine of 10 percent on the total amount of duty and taxes involved for the clearance of unregistered mobile phones. Read more »