Pkrevenue.com

Day: March 6, 2020

  • Sindh collects Rs4.77 billion as motor vehicle tax

    Sindh collects Rs4.77 billion as motor vehicle tax

    KARACHI: The Sindh government has collected Rs4.77 billion as motor vehicle tax during first eight months (July – February) 2019/2020.

    This was informed at a meeting presided over by Provincial Minister for Excise and Taxation – Narcotics Control and Parliamentary Affairs Mukesh Kumar Chawla on Friday.

    At the meeting the provincial minister directed the officers to ensure timely and complete recovery of taxes and especially to speed up the collection of property tax and motor vehicle tax.

    The meeting was also attended by Secretary Excise and Taxation & Narcotics Control Abdul Rahim Sheikh, Director General Shoaib Ahmed Siddiqui and other officers.

    Briefing the meeting, Director General Excise and Taxation & Narcotics Control Shoaib Ahmed Siddiqui said that Rs. 651.480 million was collected in the month of February in term of motor vehicle tax.

    He further stated that Rs. 4036.314 million from Karachi, Rs 340.999 million from Hyderabad and Rs 199.325 million from Sukkur while Rs 74.183 million was received from Shaheed Benazirbad, Rs 75.943 million from Larkana and Rs 43.399 million from Mirpur Khas as motor vehicle tax.

    Addressing the meeting, Provincial Minister Mukesh Kumar Chawla directed the officers to pay special attention to motor vehicle tax collection and a comprehensive road checking campaign should be launched as soon as possible to collect the tax from the tax defaulting vehicles.

    He said that officers who failed to meet the tax targets would be taken to task and no negligence would be tolerated in the collection of taxes.

  • MCC Preventive Peshawar announces auction of vehicles, mobile phones on March 09

    MCC Preventive Peshawar announces auction of vehicles, mobile phones on March 09

    ISLAMABAD: The Model Customs Collectorate (MCC) Preventive Peshawar has announced auction of vehicles and mobile phones to be held on March 09, 2020.

    Following vehicles to be auctioned at State Warehouse Peshawar:

    Mercedes Benz (Bullet Proof) Model 1982, Chassis No. WDB-12603312037551

    Toyota Hilux Pick Up Model 2007, Chassis No. MROCS12G400043443

    Toyota Land Cruiser Model 2004, Chassis No. LTERB71J800020686

    Toyota Camry Car Model 2014 (as per Website), Chassis No. 6T1BF3FK-40X056581

    Toyota Land Cruiser 1993, Chassis No. KZJ78-0007642

    Toyota Hilux Surf Model 1996 (as per Website), Chassis No. RZN185-0009061

    Hino Truck Model 2001 (as per documents), Chassis No. FB113K-159995

    Honda Heavy Bike Model 1993-94 (as per documents), Chassis No. NC31-1391982

    Hino truck (06-wheeler) Model 1992 (as per Website), Chassis No. FD3HLA-30343

    Toyota Fielder “X” Car Model 2003 (as per Website), Chassis No. NZE121-0270224

    Following vehicles to be auctioned at State warehouse Mardan

    Daihatsu Mira Car (Avy) Model 2003 (as per Website), Chassis No. L250S-1014196

    Suzuki Mini Jeep (Jimney) Model 1991 (as per Website), Chassis No. JA11-155470

    Daihatsu Rush Jeep Model 2007 (as per Website), Chassis No. J200E-0014339

    Hino Truck Model 1986 (as per Website), Chassis No. FD171B-20894

    Toyota Hiace Van Model 2003 (as per Website), Chassis No. TRH112-0008465

    Toyota Fielder “X” Car Model 2005 (as per Website), Chassis No. NZE121-0335174

    Toyota Fielder “X” Car Model 2005 (as per Website), Chassis No. NZE121-3325647

    Following vehicle to be auctioned at State Warehouse Abottabad

    Toyota Mark-X Car Model 2005 (as per Website), Chassis No. GRX120-0009539

    Following vehicles to be auctioned at State Warehouse Frontier Corps

    Daewoo Car Model 1992, Chassis No. KLATF19TINB-522281

    Mark-1 Motor Car Model Nil, Chassis No. LA3VS-216474

    Motor Car Model 1978, Chassis No. M-430-300918

    Toyota Corolla Car Model 2003 (as per Website), Chassis No. NZE120-6005014

    Toyota Corolla Saloon Car Model 2004 (as per Website), Chassis No. ZZE121-9010983

    Toyota Corolla Car Model 2001 (as per Website), Chassis No. CE100-9020816

    Toyota Corolla Car Model 2000 (as per Website), Chassis No.CE100-9013329

    Toyota Corolla Car Model 1993 (as per Website), Chassis No. CE100-3029431

    Toyota Corolla Car Model 1991 (as per Website), Chassis No. EE90-5665542

    Following mobile phones will be auctioned:

    F/o SAMSUNG GALAXY CORE 2 DUOS =22-Nos & SAMSUNG GALAXY J1 =33-Nos Total 55-Nos.

    F/o SAMSUNG GALAXY J1 =23-Nos & SAMSUNG GALAXY CORE 2 DUOS =30-Nos Total 53-Nos.

    F/o Q 3310 Mini Mobile Phones =1987-Nos.

    F/o SAMSUNG MOBILE PHONE (J56SM-J510-F/DS) =45-Nos

    F/o Voice Mobile Phone V-105 =580-Nos, V-840 60-Nos & V-2426 160-Nos Total =800-Nos.

    F/o Q MOBILE (L9) =174-Nos

    F/o Nokia 1134 Mobile Phones =119-Nos, 1110 116-Nos, 1035 80-Nos, 944 45-Nos, 1136 62-Nos & 1133 59-Nos Total =481-Nos.

    F/o Samsung Galaxy Alpha Mobile Phones =04-Nos & IPhone GSM=01-No Total =05-Nos.

    F/o Samsung G570F =18-Nos, Samsung G610F 01-No, Samsung G313 01-No Motorolla XT1030 01-No & HTC X200 01-No Total =22-Nos.

    F/o Samsung Galaxy Alpha SM-G580 F Mobile Phones =02-Nos

    F/o Samsung Galaxy Core 2 Duos SM-G355H =112-Nos, Samsung Galaxy Note 4 01-No, Samsung Iphone =01 No, Samsung Galaxy Tab 5 02-Nos & Tab 4 01-No Total =117-Nos.

    F/o Q Mobile Commando 1 =99-Nos.

    F/o Samsung Galaxy J5 23-Nos Galaxy J2 25-Nos & Samsung A3 (6) 16-Nos Total =64-Nos.

    F/oQ Mobile Phone Assorted Model/Brands = Total =2150-Nos

    F/o Gamma M2 Mobile Phone =501-Nos.

  • Stock market plunges by 1162 points on massive selling

    Stock market plunges by 1162 points on massive selling

    KARACHI: The stock market plunged by 1162 points on Friday owing to massive selling activities during the last trading day of the week.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,220 as against 39,382 points showing the decline of 1162 points.

    Analysts at Topline Securities said that spillover of the selloff in the global markets was observed at the local bourse as the index declined by 3 percent to close at 38,220 level.

    Global markets declined as fear of coronavirus resurfaced after multiple new cases of the lethal virus were reported in leading world economies.

    OPEC’s vow to cut down oil production by 1.5 million barrels a day failed to give support to the oil prices, as concerns over global demand and ambiguity on whether Russia will participate in production cut weighed down on the price.

    As a result E&P sector lost -4.56 percent during the trading session. Banking sector too closed down -3.67 percent as investor’s factored in potential decline in policy rate in upcoming Monetary Policy statement. MLCF was today`s volume leader with 27 million shares.

  • Banks directed to observe working on weekly holidays for Hajj form collection

    Banks directed to observe working on weekly holidays for Hajj form collection

    KARACHI: In a move to ease the process for prospective Hajj pilgrims, the State Bank of Pakistan (SBP) has issued a directive to banks, instructing them to keep their doors open on weekends.

    (more…)
  • Gas leakage incident occurs at Engro chemical plant

    Gas leakage incident occurs at Engro chemical plant

    KARACHI: Engro Polymer and Chemcial said that an isolated incident of gas leak occurred it plant at Port Qasim on Friday morning.

    In a statement the company said that it was gathering complete details related to the incident.

    “Based on initial reports, some people have been shifted to a nearby medical facility for treatment of vomiting/nausea condition,” it said.

    The company’s staff is accompanying these people to ensure that they receive adequate medical treatment, it said. “No injuries or fatalities have been reported,” the company added.

    It further said that specific areas of the plant have been taken offline as a precautionary measure, and the company will conduct a complete and thorough investigation into the incident and will keep the stock exchange informed with any material developments in the matter.

  • Investment in registered prize bonds witnesses 213% growth

    Investment in registered prize bonds witnesses 213% growth

    KARACHI: The investment in registered prize bonds of Rs40,000 denomination have registered phenomenal increase of 213 percent following discontinuation of bearer instruments of same denominations, official data revealed.

    The investment in premium prize bonds surged to Rs18.37 billion by end of January 2020 as compared with Rs5.86 billion in the same month of the last year.

    The sharp growth in investment into premium prize bonds has been attributed to discontinuation of bearer bonds of same denomination.

    In order to document the economy the government launched premium prize bonds in April 2017. The premium prize bonds are being issued only against CNIC with valid bank accounts.

    Further to make the instrument attractive the government also announced bi-annual profit, which transferred directly to the bond holders.

    The participation of investors into registered bonds increased sharply after the announcement of the government on June 24, 2019 to discontinue the bearer bonds of Rs40,000.

    The bearer bonds of Rs40,000 will be completely discontinued for legal tender by March 2020.

    A massive withdrawal of investment has been seen in the bearer instrument as the total investment which was at Rs258 billion in May 2019 reduced to Rs9.57 billion by January 2020.

    The State Bank of Pakistan (SBP) through a circular said that the bearer instrument can be exchanged in savings schemes such as Special Saving Certificates (SSC) or Defence Saving Certificates (DSC). The third mode of exchange the bearer bonds was direct transfer to bank accounts.

    The investment in registered bonds was also increased after the government initiatives to document all instruments of National Saving Schemes as per conditions of Finance Action Task Force (FATF).

    In this regard the ministry of finance notified National Savings Schemes (AML and CFT) Rules, 2019.

    Under these rules the Central Directorate of National Saving (CDNS) through third party will conduct Know Your Customer (KYC) and Customers Due Diligence (CDD) of all existing and new investors.

    The CDNS will ask all the investors about their annual investment and source of earnings under KYC and CDD in order to ensure clean money invested in the schemes.

  • Pakistan Customs offers fresh lot of imported cars for auction on March 7

    Pakistan Customs offers fresh lot of imported cars for auction on March 7

    KARACHI: Pakistan Customs has announced auction of fresh lot of vehicles lying at Bay West, West Wharf Road, Karachi to be held on March 07, 2020.

    Following vehicles to be presented for auction:

    01. Suzuki Escudo, Chassis No. TDA4W-271562, manufacturing year 2013, capacity 2400CC

    02. Toyota Aqua, Chassis No. NHP10-6450900, manufacturing year 2015, capacity 1500CC

    03. Toyota Passo, Chassis No. NGC30-0028061, manufacturing year 2015 capacity 1.3L

    04. Daihatsu Hijet, Chassis No. S321V-0244061, manufacturing year 2016, capacity 658CC

    05. Toyota Passo Car, Chassis No. M700A-0011255, manufacturing year 2016, capacity 996CC

    06. Suzuki Lapin Car, Chassis No. HE33S-157788, manufacturing year 2016, capacity: not shown

    07. Daihatsu Mira ES, Chassis No. LA300S-1412557, manufacturing year 2017, capacity 658cc

    08. Mitsubishi EK Wagon, Chassis No. B11W-0209546, manufacturing year 2016, capacity: not shown

    09. Suzuki Alto, chassis no. HA36S-282005, manufacturing year 2016, capacity: not shown

    10. Toyota Aqua Hybrid Car, chassis No. NHP10-2560634, capacity 1496ml, manufacturing year 2016

    11. Suzuki Every Van, chassis No. DA64V-838690, model 2014

    12. Suzuki Every, chassis No. DA64V-848504, manufacturing year 2014

    13. Suzuki Every, Chassis No. DA64V-849366, manufacturing year 2014

    14. Daihatsu Mira, Chassis No. LA300S-1376089, Capacity 658CC, manufacturing year 2016

    15. Toyota Aqua Hybrid, Chassis No. NHP10-6567616, manufacturing year 2016, capacity 1496ml

    16. Honda N-WGN, Chassis No. JH1-1359525, capacity: not shown, manufacturing year 2017

    17. Honda Acty Van, Chassis No. HH5-1913290, capacity: not shown, manufacturing year 2014

    18. Honda van, Chassis No. HH5-1913288, manufacturing year 2014, capacity: not shown

    19. Daihatsu Move Car, Chassis No. LA150S-011718, manufacturing year 2017, capacity 658CC

    20. Suzuki Alto, Chassis No. RU3-1211698, manufacturing year 2017, capacity: not shown

    21. Honda Vezel, Chassis No. RU3-1211698, manufacturing year 2016, capacity: not shown

    22. Suzuki Alto, Chassis No. HA36S-297791, manufacturing year 2016, capacity: not shown

    23. Honda N-WGN Car, chassis No. JH2-1110932, capacity: not shown, manufacturing year 2016

    24. Daihatsu Move Car, Chassis No. LA150S-0140712, manufacturing year 2017, capacity 658CC

    25. Toyota Fielder Car, Chassis No. NKE165-7146560, manufacturing year 2016

    26. Suzuki Alto Car, Chassis No. HA36S-269634, capacity: not shown, manufacturing year 2016

    27. Suzuki Hustler, Chassis No. MR41S-231305, capacity: not shown, manufacturing year 2016

    28. Suzuki Hustler Car, Chassis No. MR41S-618818, capacity: not shown, manufacturing year 2016

    29. Daihatsu Hijet Van, Chassis No. S321V-02286632, manufacturing year 2014, capacity 658CC

    30. Daihatsu Hijet Van, Chassis No. S321V-0231498, manufacturing year 2017, capacity: not shown

    31. Nissan Dayz Car, Chassis No. B21W-0424159, manufacturing year 2017, capacity: not shown

    32. Toyota Pixis Car, Chassis No. LA360A-0001264, Capacity: 658CC, manufacturing year 2017

    33. Toyota Passo, Chassis No. M700A-0023868, manufacturing year 2016, capacity 996CC

    34. Toyota Prius Car, Chassis No. ZVW51-6049019, capacity 1797mL, manufacturing year 2017

    35. Daihatsu Hijet Van, Chassis No. LA250S-0039904, manufacturing year 2016, capacity 658CC

    36. Toyota Pixis Van, Chassis No. S321M0011982, Capacity 658CC, manufacturing year 2015

    37. Daihatsu Move, Chassis No. LA150S-1055880, Capacity 658CC, manufacturing year 2017

    38. Toyota Vitz Car, Chassis No. KSP130-2166216, manufacturing year 2016, capacity 996mL

    39. Daihatsu Mira, Chassis No. LA300S-1401705, Capacity 658CC, manufacturing year 2016

    40. Suzuki Wagon R Car, Chassis No. MH44S-182602, manufacturing year 2016, capacity: not shown

    41. Honda Vezel, Chassis No. RU3-1039552, manufacturing year 2014, capacity not shown

    42. Nissan Van, Chassis No. DR17V-117715, manufacturing year 2015, capacity not shown

    43. Sabaru Pleo, Chassis No. LA350F-0004571, manufacturing year 2018, capacity 658CC

    44. Daihatsu Move, Chassis No. LA150S-0118900, Capacity 658CC, manufacturing year 2017

    45. Toyota Passo Car, Chassis No. M700A-0044070, manufacturing year 2016, capacity 996CC

    46. Suzuki Every, Chassis No. DA64V-863676, manufacturing year 2014, capacity not shown

    47. Daihatsu Move, Chassis No. LA150S-0085181, manufacturing year 2016, capacity 658CC

    48. Suzuki Wagon R Car, Chassis No. MH34S-530465, manufacturing year 2016, capacity: not shown

    49. Honda Vezel, Chassis No. RU3-1039633, capacity: not shown, manufacturing year 2014

  • FBR issues values of minerals for tax collection

    FBR issues values of minerals for tax collection

    ISLAMABAD: Federal Board of Revenue (FBR) has notified values of minerals for collection of advance tax at the time of extracted, produced, dispatched and carried away from the licensed or leased areas of the mines.

    The FBR issued SRO140(I)/2020 dated March 02, 2020 for notifying values of minerals to collect advance tax at the rate of five percent. The tax is applicable only on those persons not on the active taxpayers list (ATL).

    The FBR inserted Rule 231I for values of minerals for the purpose of sub-section 4 of section 236 of the Income Tax Ordinance, 2001:

    The values are:

    S.No.Name of mineralRate per metric tonne (in Rupee)
    (1)(2)(3)
    01Argilacoeous clay500
    02Asbestos4875
    03Antimony11700
    04Agglomerate6500
    05Barite6500
    06Basalt9100
    07Bentonite3900
    08Bauxite4550
    09Bajri780
    10Brine/salt570
    11Barytes875
    12Ball clay875
    13Coal5000
    14Clay1625
    15China Clay625
    16Calcite1300
    17Celestite1625
    18Conglomerate1950
    19Chromite18750
    20Chalk2500
    21Dolomite2250
    22Diorite6500
    23Flourite10400
    24Fullers Earth1300
    25Fire Clay1300
    26Gypsum1950
    27Granite13000
    28Gabro stone9750
    29Granodiorite9750
    30Gravel750
    31Iron ore5200
    32Limestone (for manufactures of cement)4500
    33Limestone (other than cement factory)1500
    34Laterite815
    35Lake salt875
    36Marble onyx16250
    37Magnesite3900
    38Marble (other than onyx)3900
    39Manganese5200
    40Ochre/ red ochre3900
    41Ordinary stone910
    42Pumice1950
    43Quartz3900
    44Quardzite3250
    45Rock salt875
    46Silica sand4500
    47Sulphur3900
    48Soap stone5250
    49Serpentine3250
    50Shale (cement industry)2500
    51Sand650
    52Shale750
    53Slate Stone1875
    54Sandstone750
    55Tar sand490
    56Tufff1625

    The FBR said that advance tax shall be collected by the provincial authority or a person authorized by the provincial authority to collect or recover royalty on minerals excavated and transported from leased area.

    The FBR further said that where a person having authority to collect or recover royalty on behalf of the provincial authority:

    (a) fails to collect tax as required; or

    (b) having collected tax fails to pay the tax to commissioner as required under Section 160

    the person having authority to collect of recover royalty as well as provincial authority shall be jointly and severally liable to pay the amount of tax to the commissioner who may pass an order to that effect and proceed to recover the same.