ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance, Revenue, and Economic Affairs, directed the Federal Board of Revenue (FBR) to modify the proposed tax amnesty scheme to attract a maximum number of people.
(more…)Day: April 23, 2019
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Chief collector directs simplifying refund payment system
KARACHI: Mrs. Surriya Ahmed Butt, Chief Collector of Appraisement (South) has issued directives to customs authorities to simplify refund payment system.
The chief collector issued the directives in a meeting with members of Karachi Customs Agents Association (KCAA), a statement issued on Tuesday.
At the meeting the customs agents pointed out that the traders were facing immense problems in obtaining refunds as authorities were processing their claims through manual system.
They said that almost all the system of the customs clearance had been automated and urged the collector to make the refund payment through online system.
The chief collector assured the customs agents for simplifying the refund payment system.
The managing committee of KCAA headed by the President Mohammad Amin Essani and General Secretary Arshad Khurshid participated in the meeting.
This high-level meeting was also attended by the Collector of Customs MCC-Appraisement (West) Wajid Ali, Collector of Customs MCC-Appraisement (East), Dr. Nadeem Memon, Collector of Customs MCC-(Port Qasim), Mumtaz Ali Khoso alongwith the Additional Collectors of Customs of MCC-Appraisement (East) & (West).
While addressing the participants by the worthy Chief Collector South stated that collection of legitimate taxes in a friendly environment and Trade Facilitation is the main focus and top priority agenda of Pakistan Customs.
She assured their cooperation in order to resolve the issues being faced by the trade on the spot by adopting Open Door Policy at Custom House.
In the said meeting the following decisions were taken:
Refund Process: It has been decided that refund process will be simplified.
Dis-continuation of practice for manual hold by the terminal operators on auction goods released by the customs after payment of legitimate duty and taxes.
Call Documents: In order to reduce dwell time the process for call documents will also be simplified.
Review Submission Option: The Customs Authorities agreed that an option will be given to traders to opt for personal hearing directly before the concerned Deputy Collector instead of routed through PA. This will reduced the dwell time and allow timely clearance of goods.
CRF procedure. As proposed by KCAA the On-Line CRF request will be introduced in the system with the consultation of Directorate of Reforms & Automation.
Regarding Auto De-Blocking of IGM. De-blocking of IGM of late GDs filing should be done electronically.
On-Line Verification of Pak China FTA. The authenticity of Pak-China FTA Certificate should be verified through Electronic Data Exchange (EDE).
All the proposals / agenda were appreciated by the department and assure the implementation of the same for the betterment of trade facilitation.
The meeting was concluded with a vote of thanks as the decisions taken were definitely reduce the cost of doing business.
In the end of meeting Mohammad Amin Essani (President) and Arshad Khurshid (General Secretary) thanked and appreciated the prompt decisions taken by the Honorable Chief Collector South (Appraisement) and other Collectors for giving them their precious time for meeting and assure their full cooperation at any stage.
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PTCL, Zong 4G collaborate for network expansion in remote areas
KARACHI: Pakistan Telecommunication Company Limited (PTCL) and Zong 4G have entered into a strategic partnership for network expansion in remote and far-flung areas of the country.
The collaboration will ensure provision of VSAT services by PTCL to further support and expand the network coverage across the country.
The agreement was signed by Saad Muzaffar Waraich, Chief Technology & Information Officer, PTCL, and Li Wenyu, Chief Financial Officer, ZONG 4G, during the ceremony held at Zong 4G Headquarters in the presence of the senior management and officials of respective companies.
The collaboration will ensure state-of-the-art VSAT satellite services to further enhance the network coverage and enabling customers from remote areas to enjoy increased speed through Zong 4G’s widest coverage.
Being the most experienced in the domain of satellite communication, PTCL also has extensive ground support, operation and implementation infrastructure to serve a variety of satellite communication applications.
The company will offer a complete spectrum of end-to-end connectivity to Zong 4G designated sites.
Speaking on the occasion, Saad Muzaffar Waraich, Chief Technology & Information Officer, PTCL, said, “We are pleased to sign the agreement with ZONG 4G. PTCL has been serving as the communication backbone of the country since inception of Pakistan and this partnership will help them to expand their high-quality voice and data services to the underserved markets of Pakistan.
“We are at the forefront of leading the digitization across Pakistan through such partnerships. PTCL continues to play its role in the development of telecom infrastructure, contributing to the overall economic growth of the country.”
Commenting on the partnership, Mannan Shabbir, Executive Director, Corporate Affairs Division & Company Spokesperson, said, “Being the first and the only operator with more than 10,000 4G sites across the country, Zong 4Gis providing the widest 4G coverage to the largest 4G subscriber base in the Pakistan at an unprecedented scale.
“Our partnership with PTCL is a testament to our customer-centric approach by providing our customers with the best possible services and solutions through our ever-expanding data network. Leading digitalization efforts across Pakistan, we continue to thrive, not only in the mainstream cities, but also in far-flung and remote areas of Pakistan providing reliable and seamless connectivity.”
As the winner of ‘Best in 4G services’ award by the Consumers Association of Pakistan and with more than 11 Million 4G customers, Zong 4G is the leading 4G operator of the country.
Through its continued investment in the network and infrastructure, the company is enabling its customers in every nook and corner of the country to experience world-class 4G services.
The collaboration will further enhance the digital agenda of Zong 4G and PTCL in empowering millions to remain connected anywhere and everywhere.
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SBP restrains banks’ chairmen from appointing adviser
KARACHI: State Bank of Pakistan (SBP) on Tuesday restrained board / chairman of banks from appointing adviser in any capacity.
The central bank amended Prudential Regulations G-1 to substitute Para C-3, which is as under:
“3. The Chairman/Board shall not appoint an `Advisor’ in any capacity. Accordingly, all Banks/DFIs are advised to ensure appropriate skill mix of the Board keeping in view the overall risk profile of the institution.”
All banks/DFIs are advised to ensure compliance within six months of the date of issuance of the circular letter, the SBP said.
After which, the non-compliance shall attract punitive action under relevant provisions of the Banking Companies Ordinance, 1962.
Earlier the SBP through amendment dated April 24, 2009 issued the following:
“Chairman of the Board of Directors may, if deemed necessary, appoint one advisor to advise and facilitate him in discharge of his duties/responsibilities. The appointment of such an advisor will be subject to the following conditions:
a) The advisor must possess the required technical experience relating to banking and finance at a senior level to enable him/her to render a professional advice to the Board.
b) The terms of reference of the advisor shall be approved by the Board.
c) A reasonable remuneration may be paid to the advisor with the approval of the Board of Directors.
d) The advisor may attend the meetings of Board of Directors and Board Committees in which his/her participation is required but he/she will not be a member of the Board and/or its committees.
e) The advisor shall be required to sign an appropriate confidentiality agreement to ensure confidentiality of documents / information that may come to his/her knowledge, before assuming any such role.”
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Equity market extends losses on concerns over budgetary measures
KARACHI: The equity market extended previous day’s losses on Tuesday owing to concerns over new budgetary measures under planned IMF program.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,404 points as against 36,902 points showing a decline of 498 points.
Analysts at Arif Habib Limited said that the index saw a significant draw down of 765 points.
Issues contributing to the negative sentiment included a key meeting among Cement manufacturers to discuss the market share and possibly redefine the same in north and south regions.
Besides, recent resignation of FM and joining of the Advisor to Finance Ministry caused concern among investors for deferral in finalization of IMF.
In addition, future contract in the on-going rollover week attracted selling interest from investors. Cement Sector led the volumes with 19 million shares, followed by Chemical (15 million).
LOTCHEM managed to move upward though the price gains were contained. SNGP after showing phenomenal results, announced yesterday, saw lower circuit by session’s end.
Sectors contributing to the performance include Fertilizer (-66 points), Banks (-66 points), Cement (-58 points), E&P (-58 points), O&GMCs (-51 points).
Volumes continued declining trend and reached 120 million shares from 126 million shares (-5 percent DoD). Average traded value increased by 13 percent to reach US$ 35.4 million from US$ 31.3 million.
Stocks that contributed significantly to the volumes include LOTCHEM, KEL, SNGP, BOP and PIOC, which formed 35 percent of total volumes.
Stocks that contributed positively include MCB (+4 points), MUREB (+3 points), UBL (+2 points), FATIMA (+2 points), and MEBL (+2 points). Stocks that contributed negatively include HBL (-33 points), DAWH (-30 points), ENGRO (-23 points), OGDC (-23 points).
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Shell Pakistan declares 81 percent decline in net profit
Shell Pakistan Limited announced a significant 81% decline in its profit after tax, as revealed by the company’s financial results for the quarter ended March 2019, approved by the board of directors in their meeting held on Tuesday.
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Rupee remains unchanged for seventh straight trading day
KARACHI: The Pakistani Rupee (PKR) maintained its unaltered position against the US Dollar for the seventh consecutive trading day on Tuesday, reflecting a scenario of subdued demand for imports and corporate payments.
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Clearance of mobile phones: Customs valuation of 234 brands, models issued
KARACHI: Pakistan Customs has issued valuation of 234 different brands and models of mobile phones for the purpose of determination of duty and taxes at clearance stage.
The Directorate General of Customs Valuation issued valuation advice in order to make it easy for the clearance of mobile phones of different brands and models.
The directorate said that the list is not exhaustive, hover, covers mostly traded brands and models. It further said that as far as assessment of brands and models not included in the list is concerned the clearance collectorates may like to forward a reference to the directorate.
Following is the list of mobile phones for customs valuation, which tabled as Serial Number, Name of mobile phone and customs valuation cost and freight in US Dollar/Prices:
001. Apple, iPhone 6s, 128GB Space Grey, MKQT2UR/A: $449
002. APPLE, iphone 6s Plus 128GB Space Grey MKUD2UR/A: $549
003. APPLE, iphone 6s 32GB Space Grey MNOW2UR/A: $349
004. APPLE, iphone 6s Plus 32GB Space Grey MN2V2UR/A: $449
005. APPLE, iphone 7 Plus 128GB Black MN4M2UR/A: $669
006. APPLE, iphone 7 32GB Black MN8X2UR/A: $449
007. APPLE, iphone 7 128GB Black MN922UR/A: $549
008. APPLE, iphone 7 Plus 32GB Black MNQM2UR/A: $569
009. APPLE, iphone 8 64GB Space Grey MQ6G2UR/A: $599
010. APPLE, iphone 8 256GB Space Grey MQ7C2UR/A: $745
011. APPLE, iphone 8 Plus 64GB Space Grey MQ8L2UR/A: $699
012. APPLE, iphone 8 Plus 256GB Space Grey MQ8P2UR/A: $849
013. APPLE, iphone X 64GB Space Grey MQAC2UR/A: $ 834
014. APPLE, iphone X 256GB Space Grey MQAF2UR/A: $960
015. APPLE, iphone XR 64GB Black MRY42UR/A: $749
016. APPLE, iphone XR 128GB Black MRY92UR/A: $799
017. APPLE, iphone XR 64GB BLUE MRYA2UR/A: $749
018. APPLE, iphone XR 128GB White MRYD2UR/A: $799
019. APPLE, iphone XR 256GB Black MRY12UR/A: $899
020. APPLE, iphone XS Max 64GB Space Grey MT502UR/A: $1099
021. APPLE, iphone XS Max 256GB Space Grey MT532UR/A: $1249
022. APPLE, iphone XS Max 512GB Space Grey MT562UR/A: $1449
023. APPLE, iphone XS 64GB Space Grey MT9E2UR/A: $99
024. APPLE, iphone XS 256GB Space Grey MT9H2UR/A: $1149
025. APPLE, iphone XS 512GB Space Grey MT9L2UR/A: $1349
026. HONOR, HONOR 5X KIW-L21: $120
027. HONOR, HONOR 6X BERLIN-L21HN: $145
028. HONOR, HONOR 8 FRD-L09: $275
029. HONOR, HONOR 8 LITE PRA-LA1: $125
030. HONOR, HONOR 6X BERLIN-L61HN: $145
031. HONOR, HONOR 75 DUA-L22: $75
032. HONOR, HONOR 7A AUM-L29: $98
033. HONOR, HONOR 5C PRO, DLI-L42: $105
034. HONOR, HONOR 7C LND-L29: $111
035. HONOR, HONOR 9 LITE, LLD-L21: $130
036. HONOR, HONOR 7X 4GB +32GB, BND-L31: $150
037. HONOR, HONOR 8X 4GB+64GB, JSN-L22: $187
038. HONOR, HONOR 7X 3GB+ 64GB BND-L21: $160
039. HONOR, HONOR 8X 4GB+128GB JSN-L22: $192
040. HONOR, HONOR PLAY COR-L29: $230
041. HONOR, HONOR 10 COL-L29: $352
042. HONOR, HONOR 9 STF-L09L $350
043. HONOR, HONOR 10 LITE, HRY-LX1: $161
044. HONOR, HONOR 8C BKK-LX2: $121
045. HUAWEI, HUAWEI Y625, HUAWEIY625-U32: $50
046. HUAWEI, HUAWEI Y6, SCL-U31: $63
047. HUAWEI, HUAWEI P8 LITE, ALE-L21: $110
048. HUAWEI, HUAWEI G8 RIO-L01: $180
049. HUAWEI, HUAWEI MATE 8 NXT-L29A: $310
050. HUAWEI, HUAWEI MATE 8 NXT-L29B: $310
051. HUAWEI, HUAWEI Y3 II LUA-U22: $42
052. HUAWEI, HUAWEI Y5 Y560-U02: $52
053. HUAWEI, HUAWEI Y5 II CUN-U29: $62
054. HUAWEI, HUAWEI Y6 PRO, TIT-U02: $80
055. HUAWEI, HUAWEI Y5 II, CUN-L21: $62
056. HUAWEI, HUAWEI Y6 PRO TIT-ALUU: $80
057. HUAWEI, HUAWEI Y6 II, CAM-L21: $100
058. HUAWEI, HUAWEI P9 LITE, VNS-L21: $150
059. HUAWEI, HUAWEI NOVA PLUS, MLA-L11: $235
060. HUAWEI, HUAWEI P9 EVA-L19: $280
061. HUAWEI, HUAWEI P9 PLUS VIE-L29: $350
062. HUAWEI, HUAWEI MATE 9 MHA-L29B: $410
063. HUAWEI, HUAWEI Y3 2017 3G, CRO-U00: $60
064. HUAWEI, HUAWEI Y3 2017 CRO-L22: $78
065. HUAWEI, HUAWEI Y5 2017 MYA-22: $97
066. HUAWEI, HUAWEI Y7 PRIME TRT-L2LA: $130
067. HUAWEI, HUAWEI MATE 10 LITE RNE-L21: $182
068. HUAWEI, HUAWEI P10 LITE, WAS-LX1A: $185
069. HUAWEI, HUAWEI P10, VTR-L29: $330
070. HUAWEI, HUAWEI MATE 10 PRO BLA-L29: $497
071. HUAWEI, HUAWEI MATE 10, ALP-L29: $425
072. HUAWEI, HUAWEI P10 PLUS, VKY-L29: $450
073. HUAWEI, PORSCHE DESIGN HUAWEI MATE 10, BLA-L29D: $900
074. HUAWEI, HUAWEI Y5 PRIME 2018, DAR-LX2: $82
075. HUAWEI, HUAWEI Y6 PRIME 2018, ATU-L31: $111
076. HUAWEI, HUAWEI Y7 PRIME 2018, LDN-L21: $126
077. HUAWEI, HUAWEI Y9 2018, FLA-LX2: $156
078. HUAWEI, HUAWEI P SMART, FIG-LAL: $173
079. HUAWEI, HUAWEI Y9 2019, JKM-LX1: $179
080. HUAWEI, HUAWEI NOVA 31, INE-LX1: $201
081. HUAWEI, HUAWEI P20 LITE, ANE-LX2: $205
082. HUAWEI, HUAWEI NOVA 3, PAR-LXIM: $324
083. HUAWEI, HUAWEI, P20 PRO, CLT-029, $568
084. HUAWEI, Huawei Media Pad T310, AGS L09: $132
085. HUAWEI, Huawei Media Pad, T37, BG2U014: $73
086. HUAWEI, Huawei YS LITE, ORALX5, $70
087. HUAWEI, Huawei Mate 20 Pro, LYA-129: $692
088. HUAWEI, Huawei Y2 Prime 2019, DUB: $127
089. HUAWEI, HuaweiY6 Prime 2019, MRD: $99
090. HUAWEI, Huawei P30, ELE L29: $499
091. HUAWEI, Huawei P30PRO, VOG L29: $770
092. INFINIX, Smart 2 HD, X609: $80
093. INFINIX, HOT 6, X606C: $71
094. INFINIX, S3X 64+4, X622, $117
095. INFINIX,S3X 32+3, X622: $108
096. INFINIX, ZERO 5, X603: $124
097. INFINIX,Note 5, X604: $126
098. INFINIX, Note 5 Stylus, X605: $142
099. INFINIX, Smart 2 16+2, X5515F: $45
100. INFINIX, Smart 2 32+2, X55151: $66
101. INFINIX, Hot 6 Pro, X608: $89
102. ITEL, ITEL -A32F, A32F: $41
103. LENOVO, Lenovo B, A-2016: $58
104. LENOVO, Lenovo C, A-2020: $66
105. LENOVO, Lenovo 6010, A-6010: $90
106. LENOVO, Karate Plus, A-6020: $121
107. LENOVO, C2 Power, K 10: $97
108. LENOVO, Karate KG, K33: $133
109. LENOVO, K6 Note, K 53 A: $153
110. LENOVO, Moto M, XT1633: $181
111. LENOVO, P2, P2: $228
112. LENOVO, Moto Z Play, XT1635: $315
113. LENOVO, Moto Z, XT1650: $474
114. LENOVO, K320, K320T: $54
115. LENOVO, KS Play, L38011: $111
116. LENOVO, S5, K520: $158
117. MEIZU, M711H-M6, MEIZU-M711H: $81
118. MEIZU, M721H-M6 NOTE, MEIZU-M721H: $181
119. MEIZU, M792H-PRO 7, MEIZU-M792H: $213
120. MEIZU, M793H-PRO 7 PLUS, MEIZU-M793H: $272
121. MEIZU, M6T, MEIZU-M811H: $98
122. MEIZU, C9, MEIZU-M818H: $58
123. MOTOROLA, XT1663( MOTO M), XT1663( MOTO M): $181
124. MOTOROLA, XT1635( MOTO Z PLAY), XT1635( MOTO Z PLAY): $315
125. MOTOROLA, XT1650( MOTO Z), XT1650( MOTO Z), XT1650( MOTO Z): $47
126. MOTOROLA, XT1762( E4), XT1762( E4): $75
127. MOTOROLA, XT1723( C PLUS), XT1723(C PLUS): $81
128. MOTOROLA, XT1771( E4 PLUS), XT1771(E4 PLUS): $126
129. MOTOROLA, XT1805( G55 PLUS), XT1850( G55 PLUS): $145
130. MOTOROLA, XT1944-2( E5), XT1944-2( E5): $116
131. MOTOROLA, XT1924-1 E5 PLUS, XT1924-1 E5 PLUS: $154
132. MOTOROLA, XT1925-5( G6 64GB), XT1925-5( G6 64GB): $222
133. MOTOROLA, XT1926-3( G6 PLUS), XT1926-3 (G6 PLUS): $249
134. NOKIA, NOKIA 130 DS, RM-1035: $12
135. NOKIA, NOKIA 105 SS, RM-1134: $10
136. NOKIA, NOKIA 105 DS, RM-1133: $9
137. NOKIA, NOKIA 108 DS, RM-944: $12
138. NOKIA, NOKIA 215 DS, RM-1110: $15
139. NOKIA, NOKIA 222 DS, RM-1136: $20
140. NOKIA, NOKIA 150 DS, RM-1190: $23
141. NOKIA, NOKIA 216 DS, RM-1187: $27
142. NOKIA, NOKIA 230 DS, RM-1172: $44
143. NOKIA, NOKIA 105 DS, TA-1034: $12
144. NOKIA, NOKIA 130 DS, TA-1017: $17
145. NOKIA, NOKIA 3310 DS, TA-1030: $37
146. NOKIA, NOKIA 3310 3G, TA-1006: $40
147. NOKIA, NOKIA 2 DS, TA-1029: $75
148. NOKIA, NOKIA 3 DS, TA-1032: $99
149. NOKIA, NOKIA 5 DS, TA-1053: $135
150. NOKIA, NOKIA 8, TA-1004: $399
151. NOKIA, NOKIA 106 DS, TA-1114: $12
152. NOKIA, NOKIA 8110 DS, TA-1059: $56
153. NOKIA, NOKIA 1 DS, TA-1047: $55
154. NOKIA, NOKIA 2.1 DS, TA-1080: $82
155. NOKIA, NOKIA 3.1( 2+16 GB), TA-1063: $111
156. NOKIA, NOKIA 3.1 PLUS, TA-1104: $126
157. NOKIA, NOKIA 3.1( 3+32 GB), TA-1063: $133
158. NOKIA, NOKIA 6 DS, TA-1021: $162
159. NOKIA, NOKIA 5.1 PLUS, TA-1105: $155
160. NOKIA, NOKIA 6.1( 3+32 GB), TA-1043: $198
161. NOKIA, NOKIA 6.1 PLUS, TA-1116: $195
162. NOKIA, NOKIA 6.1(4+64 GB), TA-1043: $226
163. NOKIA, NOKIA 7 PLUS, TA-1046: $274
164. NOKIA, NOKIA 8.1, TA-1119: $320
165. NOKIA, NOKIA 210 DS, TA-1139: $25
166. NOKIA, NOKIA 1 PLUS DS, TA-1130: $68
167. NOKIA, NOKIA 7.1, TA-1095: $194
168. SAMSUNG, GALAXY-J1-MINI-PRIME, J106H: $46
169. SAMSUNG, GALAXY-A3( 2017), A320F: $210
170. SAMSUNG, GALAXY-A5( 2017), A520F: $250
171. SAMSUNG, GALAXY-A7( 2017), A720F: $310
172. SAMSUNG, GALAXY-J2( 2018), J250F: $95
173. SAMSUNG, GALAXY-J7-NEO 16GB, J701F: $125
174. SAMSUNG, GALAXY-J5( 2017), J530F: $170
175. SAMSUNG, GALAXY-J7-MAX, G615: $220
176. SAMSUNG, GALAXY-J7( 2017) 32GB, J730F: $206
177. SAMSUNG, GALAXY-A8( 2018), A530: $396
178. SAMSUNG, GALAXY S8, G950F: $535
179. SAMSUNG, GALAXY S8+, G955F: $691
180. SAMSUNG, GALAXY NOTES, N950F: $760
181. SAMSUNG, GALAXY-J4, J400F: $105
182. SAMSUNG, GALAXY-J4+, J415F: $120
183. SAMSUNG, J4 CORE, J410F: $98
184. SAMSUNG, J2 CORE, J260F: $80
185. SAMSUNG, GALAXY-J6, J600F: $160
186. SAMSUNG, GALAXY-J6+, J610F: $158
187. SAMSUNG, GALAXY A6, A600F: $265
188. SAMSUNG, GALAXY-J8, J810F: $245
189. SAMSUNG, GALAXY-A7( 2018), A750F: $260
190. SAMSUNG, GALAXY-A6+, A605F: $295
191. SAMSUNG, GALAXY-A8+( 2018), A730F: $444
192. SAMSUNG, GALAXY-A9( 2018), A920F: $451
193. SAMSUNG, GALAXY S9, G960F: $560
194. SAMSUNG, GALAXY S9+, G965F 64 GB: $736
195. SUMSUNG, GALAXY S9+, G965F 128 GB: $766
196. SAMSUNG, GALAXY NOTE9, N960F 128GB: $770
197. SAMSUNG, GALAXY NOTE9, N960F 512GB: $966
198. SAMSUNG, Grand Prime Plus, G532: $84
199. SAMSUNG, GALAXY A10, SM-A105F: $99
200. SAMSUNG, GALAXY A30, SM-A305F: $176
201. SAMSUNG, GALAXY A50, SM-A505F: $235
202. SAMSUNG, GALAXY A20, SM-A205F: $129
203. SAMSUNG, GALAXY S10 PLUS-128, SM-G975F/128: $793
204. SAMSUNG, GALAXY S10 PLUS-512, SM-G975F/512: $995
205. SAMSUNG, GALAXY S10-128, SM-G973F/128: $713
206. SAMSUNG, GALAXY TAB E SM-T561, SM-T561: $132
207. SONY, XPERIA L1, G3312: $115
208. SONY, XPERIA L2, H4311: $173
209. SONY, XPERIA XA1, G3112: $153
210. SONY, XPERIA XA1 PLUS, G3412: $215
211. SONY, XPERIA XAI ULTRA, G3212: $230
212. SONY, XPERIA XZ, F8332: $305
213. SONY, XPERIA XZ1, G8342: $390
214. SONY, XPERIA XZ PREMIUM, G8142: $430
215. SONY, XPERIA XA2 ULTRA, H4213: $320
216. TECNO, TECNO-WX3, WX3: $37
217. TECNO, TECNO-WX4 PRO, WX4PRO: $60
218. TECNO, TECNO-Spark pro, K8: $69
219. TECNO, TECNO-Camon CX air, Cx air: $73
220. TECNO, TECNO-Camon I air, IN3: $85
221. TECNO, TECNO-Camon I, IN5: $102
222. TECNO, TECNO-F3, F3: $50
223. TECNO, TECNO-IN1 Pro, IN1Pro: $52
224. TECNO, TECNO-POP, B1: $29
225. TECNO, TECNO-POP, B2: $50
226. XIAOMI, REDMI 5A HD, MI-C3B: $110
227. XIAOMI, REDMI 5 (2GB), MI-D1: $134
228. XIAOMI, REDMI 5 (3GB), MI-DI: $150
229. XIAOMI, REDMI 52 (3GB), MI-E6: $164
230. XIAOMI, REDMI 52 (4GB), MI-E6: $201
231. XIAOMI, REDMI 5 PLUS (3GB), MI-E7: $158
232. XIAOMI, REDMI NOTE 5 PRO (3GB), MI-E7S: $182
233. XIAOMI, REDMI 5 PLUS (4GB), MI-E7: $205
234. XIAOMI, REDMI NOTE 5 PRO (4GB), MI-E7S: $226
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Sales Tax Act 1990: penalty for non-filing, miscalculation
KARACHI: The sales tax law has defined fine and penalty for persons fail to file sales tax returns within due date. The law also defined penalty for miscalculation and other obligations.
The updated Sales Tax Act, 1990 issued by the Federal Board of Revenue (FBR) explained the offences and penalties under section 33.
Following are the offences and penalties:
If a person fails to furnish a return within the due date then Such person shall pay a penalty of five thousand rupees:
Provided that in case a person files a return within ten days of the due date, he shall pay a penalty of one hundred rupees for each day of default.
Any person who fails to issue an invoice when required under this Act than such person shall pay a penalty of five thousand rupees or three per cent of the amount of the tax involved, whichever is higher.
Any person who un-authorizedly issues an invoice in which an amount of tax is specified, in such cases the person shall pay a penalty of ten thousand rupees or five per cent of the amount of the tax involved, whichever is higher.
Any person who fails to notify the changes of material nature in the particulars of registration of taxable activity then such person shall pay a penalty of five thousand rupees.
Any person who fails to deposit the amount of tax due or any part thereof in the time or manner laid down under this Act or rules or orders made there under.
Such person shall pay a penalty of ten thousand rupees or five per cent of the amount of the tax involved, whichever is higher:
Provided that, if the amount of tax or any part thereof is paid within ten days from the due date, the defaulter shall pay a penalty of five hundred rupees for each day of default:
Provided further that no penalty shall be imposed when any miscalculation is made for the first time during a year:
Provided further that if the amount of tax due is not paid even after the expiry of a period of sixty days of issuance of the notice for such payments by an officer of Inland Revenue, not below the rank of Assistant Commissioner Inland Revenue, the defaulter shall, further be liable, upon conviction by a Special Judge, to imprisonment for a term which may extend to three years, or with fine which may extend to amount equal to the amount of tax involved, or with both.
Any person who repeats erroneous calculation in the return during a year whereby amount of tax less than the actual tax due is paid. In that case such person shall pay a penalty of five thousand rupees or three per cent of the amount of the tax involved, whichever is higher.
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Pakistan, Iran agree to boost monetary, financial, commercial activities
ISLAMABAD: Pakistan and Iran have agreed to enhance economic cooperation through boosting monetary, financial and commercial activities to their full potential by utilizing all available options.
The joint statement issued on Monday after the meeting of Pakistan Prime Minister Imran Khan and President of Iran Dr. Hassan Rouhani, the both sides considering the increase in volume of trade between the two countries in 2018, the President of Iran and Prime Minister of Pakistan instructed relevant institutions and Ministries to devise all required mechanisms for boosting monetary, financial and commercial activities to their full potential by utilizing all available options.
The two sides also decided to hold the 21st round of the Joint Economic Commission (JEC)in the second half of 2019 in Pakistan to deliberate further on these issues.
Prime Minister Imran Khan paid a high-level visit to the Islamic Republic of Iran from 21-22 April 2019, on the invitation Dr. Hassan Rouhani, the President of the Islamic Republic of Iran.
There has been regular exchange of leadership level visits between the two sides in recent years.
While emphasizing historical, cultural, religious and civilizational ties between the two neighboring and Muslim countries, and highlighting the commitment of the senior officials of the two countries to expand relations in all areas of mutual interest, the two sides reiterated the importance of deepening and reinforcing bilateral ties based on principles of national interest, territorial integrity and mutual respect for national sovereignty.
They called for swift implementation of bilateral agreements as a step towards realizing this important goal. Both sides highlighted that common borders should be the borders of peace and friendship, and acknowledged the necessity of forging regular cooperation and exchange of views between political, military and security officials of the two countries to combat threats such as terrorism, smuggling of narcotics, human trafficking, hostage-taking, money-laundering and abduction. It was also agreed that the 10th Round of the Special Security Committee of the two Ministries of Interior will be held in Islamabad in June 2019 to discuss these matters in detail.
It was also agreed that the next meeting of the Joint Consular Commission would be held on 2nd half of 2019 to review the progress made so far and chart the way forward in further facilitating the movement of people from both sides.
Pakistan side welcomed the initiation of the process for release of a number of Pakistani prisoners by the Government of Iran, and for making arrangements for their expeditious repatriation to Pakistan.
President of the Islamic Republic of Iran and Prime Minister of the Islamic Republic of Pakistan agreed that enhancing and cementing cooperation between Iran’s Sistan-Balochistan Province and Pakistan’s Balochistan Province including opening of new border crossings and border markets would contribute towards improvement of the economic situation of local residents, and further constitutes a step towards resolving border challenges and insecurities.
Both sides agreed to hold the 2nd Round of High Border Commission in Islamabad in May 2019 to review the current status of preparations and further measures required for the earliest opening of new crossing points at Gabd-Reemdan and Mand-Pishin, besides opening of new border markets.
Both sides highlighted the necessity of extending cooperation in energy sector including export of electricity from Iran to Pakistan.
Pakistani side extended its appreciation to the Government of the Islamic Republic of Iran for continuing electricity exports to Pakistan’s Balochistan Province. Reaffirming the importance of strong and historic socio-cultural and linguistic affinities between the two countries and their peoples.
Both sides reaffirmed the need to further strengthen these bonds through promotion of academic, cultural and tourism activities, particularly by encouraging more frequent exchange of visits of intellectuals, folk artists, cultural troupes and by enhancing tourism to the historic religious sites in both countries.
Prime Minister Imran Khan reaffirmed the support and solidarity of the government and people of Pakistan with the people of Iran over loss of precious human lives and material damages due to recent severe floods in Iran.
Prime Minister of Pakistan expressed the conviction that the people of Iran would handle this natural calamity with their characteristic resilience. Iranian side expressed its gratitude to Pakistan for sending humanitarian assistance to the flood affected people in Iran. Both sides welcomed the signing of a declaration for cooperation in health sector aimed at bilateral technical assistance and experience sharing with tangible outputs.
Both sides discussed and exchanged views on major regional and international issues, and asserted that peace, tranquility and sustainable development are prerequisite for enhancing relations, integrity and synergy among the West Asian countries.
Both sides reaffirmed their commitment to the UN Charter and international law, in particular the principles of sovereign equality of states, political independence and non-interference in the internal affairs of States.
The two sides reiterated the need for all States to adhere to the rule of law including at the international level. In this context, they expressed serious concerns over unilateral application of measures by any country that are inconsistent with the provisions of international law and the principles of UN Charter.
The President of Iran and Prime Minister of Pakistan, referring to the necessity of establishing a safe, stable and independent Afghanistan for the sake of regional peace and stability, acknowledged the necessity of holding Afghan-led and Afghan-owned peace dialogue while calling upon regional countries and the international community to work collectively to end conflict and restore complete peace in the country.
Both sides also agreed to join efforts for achieving a broader regional consensus in this regard. While condemning terrorism in all its forms and manifestations, both sides acknowledged the great achievements of the two countries in combating terrorism and emphasized that efforts to develop regional and international cooperation in preventing and countering terrorism should be redoubled and the root-causes of all types of terrorism in the region identified and addressed.
Considering the importance of developing connectivity and transit corridors in order to accelerate and facilitate bilateral and regional cooperation and trade, both sides welcomed the implementation of bilateral and multilateral agreements including the Belt and Road Initiative (BRI) and China-Pakistan Economic Corridor (CPEC), as well as agreements on establishing the North–South and East–West corridors in Iran.
The President of Iran and Prime Minister of Pakistan welcomed all dimensions of cooperation of the two countries with other states, particularly the six-party Speakers’ Conference in Tehran with the purpose of consolidating cooperation among the regional states.
Both sides highlighted the need to resolve the issue of Jammu & Kashmir through dialogue and peaceful means based on the will of the people of that region and in line with the resolutions of the United Nations Security Council.
The President of Iran and Prime Minister of Pakistan emphasized that the right of the people of Palestine to establish an independent and sovereign Palestinian state should be respected as the key demand of the Muslim states.
Both sides also agreed to reinforce endeavors through regional and international arrangements and mechanisms to help Palestinians establish an independent state.
Both sides stressed on swift and complete implementation of the Joint Comprehensive Plan of Action (JCPOA) by other states considering the full compliance of the Islamic Republic of Iran to its provisions.
The Prime Minister of Pakistan expressed his appreciation to the President of the Islamic Republic of Iran for the warm and generous hospitality extended to the Pakistani delegation, and officially invited Dr. Hassan Rouhani to visit Pakistan at the earliest convenience.
President of Iran accepted the gracious invitation. Dates for the visit will be worked out through diplomatic channels.