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PakISTaN’S fIRST INDEPTh NEwSPaPER ON CUSTOMS
Daily
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Karachi, Fri April 6, 2018
ISLAMABAD
CUSTOMS BULLETIN REPORT www.customsbulletin.com
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pecial assistant to the prime minister on revenue Haroon Akhtar Khan has said that withholding tax rates for non-Rilers of income tax returns would be increased in the next budget. Speaking at a pre-budget seminar, Akhtar said that the government would not impose any new tax in the budget that will be unveiled on April 27. Akhtar said that in Pakistan
nobody was ready to pay tax and even hospitals, doctors and big business Rirms were evading taxes. The special assistant defended the tax machinery and said that few FBR ofRicers were corrupt. He also spoke critically about lowering the tariff rates and signing of free trade agreements. “The free trade agreements have eroded Pakistan’s manufacturing base, which was also the reason behind high imports,” said Akhtar. He said that in these circumstances Pakistan cannot achieve 7% annual economic growth rate without hitting a high current account deRicit.
Akhtar’s comments came in the background of current Free Trade Agreement talks with China under
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the second phase. Majority of the stakeholders see further trade liberalisation with China as a grave threat to the industrial base. “Even the multinational companies complain that they cannot compete with goods being imported under various free trade agreements,” said Akhtar. For the last four years, the tax rates for the people who stay out of the net have been going up. Yet the income tax base remains extremely narrow and this year only 1.26 million people Riled income tax returns – 131,000 less than last year. “We have taxed all possible sources of income and consumption and no further avenue is left to tax,” said former FBR chairman Dr Mohammad Irshad. He said that those who are outside the tax net will not come in the net, irrespective how much cost they have to pay for remaining a non-Riler. He said that the increase in tax rates provide more incentives to evade taxes.
Dr Arslan serves notice on impounded car owner who smuggles arms & drugs
Adjudication-II retrieves Rs32.45m in response to seven final notices within 27 days
Customs Preventive foils bid to smuggle gold from AIIA
DG Valuation revises customs values of different types of spun yarn
Sukkur Customs impounds contraband tyres,juices & otheritems following tip-off
Dr. Arslan, has issued a show cause notice to an owner of an impoundedToyota car | SEE PagE 02 |
Adjudication-II issued seven final notices and recovered Rs32.45million | SEE PagE 03 |
Preventive team deputed at AIIA foiled a bid to smuggle huge quantity of NDP gold | SEE PagE 04 |
DG Valuation has revised the customs values of polyester spun yarn, viscose | SEE PagE 09 |
ASO Sukkur, seized 24 sacks of tyres of different sizes, about 960 tins of Rani Juice | SEE PagE 16 |