Feb 28 layout 1

Daily on www.customsbulletin.com

Find us on

pAkIStAN’S FIrSt INDepth NewSpAper oN cuStoMS

Daily

ABC Certified

Karachi, Tue February 28, 2017

ISLAMABAD

M FAIZAN

www.customsbulletin.com

F

ederal Tax Ombudsman (FTO) Abdul Rauf Chaudhary has said that the country’s tax system needs reforms and the Federal Board of Revenue (FBR) must adopt strict accountability system against those who are avoiding to file tax returns.

He expressed these

views while speaking to the FTO advisory committee members. He said there are Slaws and Slexibility in the tax laws and the FBR should review the same carefully.

The meeting of the advisory committee held under the chairmanship of Abdul Rauf Chaudhary at Islamabad FTO ofSice which was attended by the all 13 members. He said that the Federal Tax Ombudsman Secretariat is providing cheap and speedy justice to the tax-

Vol 2, Issue No. 90

Price Rs. 14.00

payers aggrieved due to mal-administration.

Our top priority is to remove tax related irritants, reduce cost of doing business and promote conducive tax culture in our country to ensure good governance. He said Federal Tax Ombudsman and taxpayer interface has been established through periodic meetings with chambers of commerce and industry, trade bodies, business associations, tax bars and the civil society Organizations in the country.

Thousands of NDP vehicles legalized under Amnesty Scheme in March 2013

ASO-Preventive striving hard to increase revenue: DC Ali Raza Sipra

Ishaq Dar stresses effective utilisation of foreign funds

ANF foils bid to smuggle 2.25kg heroin to Saudi Arabia

Pakistan, Netherlands resume talks on avoidance of double taxation pact

TheSenateStandingCommitteeon FinanceandRevenue,meetingconsidered | See pAge 02 |

DC Customs Preventive Headquarters Ali Raza has said that the ASO of Customs | See pAge 03 |

Ishaq Dar has said that effective utilisation of foreign funds was extremely important | See pAge 04 |

ANF Lahore has arrested Naseem Masih, a resident of Sargodha from Airport | See pAge 14 |

Pakistan and Netherlands have started negotiations on a new avoidance | See pAge 16 |

2

www.customsbulletin.com

Sialkot ASO impounds worth Rs13m goods from Jan to Feb 15 Tuesday, February 28, 2017

National

SIALKOT: Anti-Smuggling Organization (ASO) of Model Customs Collectorate (MCC) Sailkot has impounded smuggled Indian origin cloths and cumin seeds including nonduty paid Hino truck and Dumper truck worth Rs13million from January till February 15, 2017. Official sources told Customs Today on the other day that Collector MCC Sialkot Ahmed Reza Khan received a tip-off regarding some smuggling attempts. Under the directions of Collector, Assistant Collector and ASO In-charge Ali Mohatashim Minhas ordered Superintendent Sardar Manzoor to constitute a team who did it under the supervision of Inspectors Ali Hassan and Aftab Ahmed.

thousands of NDp vehicles legalized under Amnesty Scheme in March 2013

KARACHI

ISLAMABAD

cuStoMS BuLLetIN report

M FAIZAN

www.customsbulletin.com

www.customsbulletin.com

he Federal Board of Revenue (FBR) has been authorised to get information regarding stock brokers and investors directly from National Clearing Company of Pakistan Limited (NCCPL).

According to Income Tax Rules, 2002 updated on February 2017, the information regarding member, broker, investor of a stock exchange, members of Pakistan Mercantile Exchange (PMEX), unit holders in mutual funds required by the FBR shall be obtained directly from NCCPL. Under the rules, investors of stock exchange, PMEX and unit holders in mutual funds are required to maintain records, which included: (1) Every investor shall maintain accounts and records separately for each of his brokerage accounts regarding his securities business which sufficiently enable for verification of the discharge of his obligations under these rules. (2) Without prejudice to the generality of the foregoing provision, every investor shall maintain in particular the following accounts and records, namely: (a) fortnightly ledger statements of the investor’s brokerage account or each brokerage account if there are more than one account whether in the investor’s own name or any benami accounts, generated.

T

T

he Senate Standing Committee on Finance and Revenue, during its meeting considered “The Rulers of Acceding States (Abolition of Privy Purpose and Privileges) (Amendment)” Bill 2017.

The committee was presided over by its chairman Senator Saleem Mandviwala at the Parliament House. During the meeting the committee considered points of public importance raised by Senator Dr. Jehanzeb Jamaldini in Senate sitting regarding amnesty scheme for motor vehicles. He informed that thousands of non customs paid vehicles were legalized under the amnesty scheme initiated in March 2013.

The committee after detailed discussion approved the Bill for presentation in the Senate with recommendation to forward the same to National Assembly. The committee also recommended that allowance of the former rulers of merged and acceding states should be increased upto half a million rupees. However, the authorities concerned have started demanding more amounts in the shape of duty / taxes which were short assessed.

He emphasized that the matter requires detailed deliberation. The committee decided to summon the higher authorities of tax collectorate, Balochistan to apprise the

FBr authorised to get stock brokers’ info from NccpL

committee on the matter. The committee deferred this issue till next meeting. The meeting was attended by Senators Ayesha Raza Farooq, Kamil Ali Agha, Mushahid Ullah Khan, Osman Saifullah Khan and Dr. Jehanzeb Jamaldini besides senior officers of the ministry of Finance and FBR. Meanwhile, The

Directorate General Customs Intelligence and Investigation, Federal Board of Revenue, has showed tremendous performance after the assumption of the charge by Director General Shaukat Ali on 15th of October. During the period of four months (15th of Oct 2016 to 15th of Feb 2107), Directorate General,

in countrywide operations, has seized miscellaneous goods including smuggled and fake cigarettes, non-duty paid cars, smuggled foreign origin cloths, diesel, petrol, auto parts, black tea, carpets, tyres and tubes, Gutka, toiletries and electronic worth Rs2210.60million.

ASo seizes rs7.6m worth non-duty paid items T

ISLAMABAD

tArIQ DerYA

www.customsbulletin.com

he Customs Anti Smuggling Organization (ASO) seized energy drinks, cigarettes and other items along with offending vehicle in worth of Rs7.6 million.

Deputy Superintendent Rana Shakeel told Customs Today that in pursuance of information provided

by Collector Dr. Arslan, the ASO team intercepted a Hino truck with

registration No: XA-381 Mirpur at GT Road Rawat.

The ASO team recovered cigarettes of various brands from the truck. The recovered cigarettes includes 50 sleeves of Benson and hedges (Special Silter), 9 sleeves Dunhill Master Blend, 10 sleeves of Dunhill International, 250 sleeves of Pine, 9 sleeves of Mond super shine, 3000 packets of light blue cigarettes and 50 sleeves of ORIS Gold international.

The ASO team also recovered

tyres China origin, Sloor hinges black, 1000 kilogram Aluminum printed packing material, Lucozade Energy drink 382.40 litters, Locozade 91.20 litters, Barbican malt beverage non-alcohol 6363 litters, Rubicon juices 1108.80 litters, Coca cola 367.20 litters, Sprite 72 litters, Red bull energy drink 288 litters, Bounty juice 28 litters, Robinson fruit shoot 792 litters, Robinson malt 158.40 litters, Gulf basil seed drink 132.24 litters and Heinz beanz baked tomato sauce.

Rana Shakeel told that the possessor could not provide any legal documents regarding possession and transportation of the cigarettes, so the ASO team seized the consignment along with offending vehicle under Section 3(1) of the Import and Export Trade Control Act 1950, Section 16 of the Customs Act 1969 and Section 156 (1) (89), (90) of the Customs Act 1969.

The ASO team conSiscated the said items and registered a case against the accused. The case has

been forwarded to the Customs Adjudication for further proceedings.

Meanwhile, The Anti-Smuggling Organization (ASO) Islamabad impounded worth Rs8.611million goods and non-duty-paid vehicles during 4th to 10th of February FY2016-17. According to Deputy Collector ASO Anser Anies, the performance of the ASO was satisfactory during 2nd week of February 2016-17. During said period, the ASO impounded worth Rs0.06million an NDP vehicle.

3

www.customsbulletin.com

ATIR seek case details from LTU on petition filed by M/s Huawei ISLAMABAD: A single bench of Appellate Tribunal Inland Revenue (ATIR) on Tuesday directed the counsel from Large Taxpayers’ Unit to submit details on departmental hearing of a tax matter filed by M/s Huawei Technologies.

ATIR Account Member Dr Ghulam Mujtaba Bhatti was hearing the case remanded back to the tribunal by the Islamabad High Court. M/s Huawei Technologies had contested show cause notices issued by the field offices of Federal Board of Revenue.

According to details, M/s Huawei Technologies had challenged recovery of issued to it in head of outstanding income tax by the LTU, Islamabad.

Shc moved against officials for taking away office equipment

Tuesday February 28, 2017

National

ASo striving hard to enhance revenue collection: Ali raza Sipra

KARACHI

M BILAL

www.customsbulletin.com

adiq Sayani, proprietor of M/s Arc Point Technologies, has moved the Sindh High Court (SHC) against alleged raid on his premises by officials of the Directorate of Intelligence and Investigation and taking away the company equipment. In his constitutional petition, counsel for the petitioner stated that the officials raided the petitioner’s business place along with three arm guards and harassed the staff members, including lift operator and women. The counsel further informed the court that the alleged team took into custody all the relevant data consisting 28 articles, including server, monitors, keyboards and even connecting cables.

S

Sargodha ASo confiscates smuggled goods FAISALABAD

NAeeM SheIkh

www.customsbulletin.com

he Anti-Smuggling Organization (ASO) Sargodha has seized foreign origin (F/O) miscellaneous items worth Rs1.82million involving duty and taxes. Sources told Customs Today that Deputy Collector Muhammad Rizwan received a tipoff that non-duty paid or smuggled items are being transported from Lahore to Sargodha. The ASO team reached the place pointed out by the informer and found 17 rolls of cloths, stationery and other goods lying on the roadside.

The team asked Imran Hassan to produce documents regarding the legal import of the items. He showed a receipt No: 7787 issued by 786 Superstar Goods Forwarding Agency Lahore but he could not provide any proof of the import on the spot.

T

KARACHI

S r khAN

www.customsbulletin.com

T

he Deputy Collector Customs Preventive Headquarters Ali Raza Sipra has said that the Anti-Smuggling Organization (ASO) of Customs-Preventive has seized million of rupees smuggled goods including heroin, fabric, diesel/petrol and other miscellaneous items during the last six months from September-2016 to February-2017.

The Deputy Collector was expressed these views during an interview with Customs Today at his ofSice. Ali Raza Sipra said that the main objective of ASO-Preventive is to increase the legal revenue and the entire organization is doing its best to curb the smuggling of contraband items.

The deputy collector further said that the Customs Preventive is trying to eliminate the smuggling of Iranian diesel and petrol into the country and the Chief Collector-Enforcement (South) and collectorPreventive are very much determined in order to uproot the menace of smuggling from the borders routes of the city, adding that the Pakistan Customs has evolved an effective strategy in this regard.

Elaborating the strategy against the smugglers, the Deputy Collector-HQ Ali Raza Sipra said that the customs authorities are keeping strict vigilance on the movement of

smuggled goods from port and airport as well as from the land routes.

The deputy collector further said that the Customs Preventive has already requested the Federal Board of Revenue-FBR to increase the Sleet of ASO in sea routes especially, so that more effective operations would be conducted against the smugglers in deep sea.

Replying to a query, the Deputy Collector Sipra admitted that the sea operation of ASO is little bid weak as

the deputy collector further said that the customs preventive has already requested FBr to increase the fleet of ASo in sea routes, so that more effective operations would be conducted against smugglers in deep sea

customs to launch eou in weBoc

D

KARACHI

wAQAr AhMeD ANSArI

www.customsbulletin.com irectorate of Reforms and Automation (Customs) has deployed the Export Oriented Unit (EOU) module in WeBOC system. Training sessions in this regard have already been held for the staff of Export Collectorates and exporters and customs agents.

According to the details, this module will be rolled out for operation and implementation from Feb-

ruary 28, 2017. New EOU licenses are to be issued through WeBOC system and the applicants are required to apply on-line through WeBOC system with all necessary information and documentation. EOU license application Siling and approval process by the regulatory collectorates has been provided in the system, starting from the processing ofSicer to the Sinal approval authority (Collector) for a new license.

Temporary functionality has been developed in the system for AO (Li-

cense) of the Regulatory Collectorate to feed and upload existing Licenses along with required mandatory documents. They validation of existing licenses in the new module necessary for future reconciliation of imports and exports made by the existing licenses in WeBOC. The regulatory Collectorates are required to upload the existing licenses along with description and corresponding H.S.codes as already approved and included in the licenses of its jurisdiction.

compared to the land operation of Customs, as the Pakistan Customs is facing shortage of resources in sea operations. Responding to another query, Ali Raza Sipra further disclosed that the Pakistan Customs has close co-ordination with other border agencies including Anti-Narcotics Force (ANF), Pakistan Maritime Security Agency (PMSA), Pakistan Coast Guards (PCG) and Pakistan Rangers and also conducting joint raids against the smugglers in sea particularly.

Accused held for extorting money ederal Investigation Agency (FIA) claimed on Wednesday to have arrested an accused for extorting money from a citizen in the pretext of sending him abroad for job. According to FIA spokesman, Muhammad Saleem of Kamliya, Toba Tek Singh, extorted Rs 490,000 from complainant Mudassir Rehman of Faisalabad for employment in Saudi Arabia.

F

4

www.customsbulletin.com

PEW lauds govt’s energy improvement initiatives ISLAMABAD: The Pakistan Economy Watch (PEW) on Sunday lauded the government for paying proper attention to resolve energy crisis and urged for upgrading transmission and distribution system. The government should introduce proper energy conservation measures and get latest technology to boost energy efficiency which will help it save billions of dollars, said Dr. Murtaza Mughal, President PEW in a statement issued here.

He said that energy efficiency can help save thousands of megawatt of electricity, millions of litres of fuel and great volume of natural gas as many nations are spending billions to become energy efficient.

Tuesday February 28, 2017

Business

Dar stresses effective utilisation of foreign funds ISLAMABAD

cuStoMS BuLLetIN report www.customsbulletin.com

F

inance Minister Senator Ishaq Dar has said that effective utilisation of foreign funds was extremely important to ensure achievement of the objective of accelerated economic development.

While chairing a meeting to review the progress of foreign funded projects, the minister said that the timely completion of development projects must be ensured. He directed Economic Affairs Division (EAD) to maintain close liaison with the development partners and remove any impediments in the way

LpgAp seeks withdrawal of notification LAHORE

cuStoMS BuLLetIN report www.customsbulletin.com

iquefied Petroleum Gas Association of Pakistan (LPGAP) demanded the Oil and Gas Regulatory Authority (OGRA) and the Ministry of Petroleum and Natural Resources withdraw a notification regarding consumer price of Rs 910 inclusive of all taxes and charges. According to LPGAP spokesman here, this price will shut the LPG industry and create hardships for consumers, adding that the Association deeply regretted OGRA announcement without realising its impact on the consumers and the industry.

L

of implementation of the projects.

Earlier, the EAD secretary gave a detailed brieSing on the utilisation of foreign assistance in various sectors, across the country.

He apprised the minister of the various projects in energy, communications, water, and social sectors, being implemented with the assistance of different multilateral

and bilateral development partners. The minister was informed that disbursement of foreign assistance to different projects was progressing smoothly.

Meanwhile, The Asian Development Bank (ADB) expressed satisfaction about the present government’s power policy and hoped that Pakistan would be able to overcome loadshedding in the country by 2018. “Yes I am hopeful that Pakistan can eliminate loadshedding by 2018 but the government is required to continue its effort to meet the goal,” said ADB Country Head Werner E Liepach while talking to a group of journalists here. Regarding the government’s power policy, he said that it was a mixed picture but things were moving in the right direction.

Fraudsters held for offering dollars to people in exchange of rupees S

ISLAMABAD

cuStoMS BuLLetIN report www.customsbulletin.com

pecial Investigation Unit (SIU) of Islamabad Police has nabbed three members of an organized gang involved in fraudulent activities and stealing valuables from vehicles.

Following few complaints of cheating people coming out from ATMs of banks by offering them dollars in exchange of their rupees, IGP Islamabad Tariq Masood Yasin and SSP Islamabad

Sajid Kiani directed to ensure arrest of these fraudsters.

Following ther directions, an SIU team was established including SI Muhammad Tehseen, ASIs Zafar Iqbal, Qamar Ijaz and Constables Sabir Ali, Samiullah, and Jahangir who succeeded to nab three gangsters looting simpletons outside banks through fraud. These gangsters hail from Karachi and they are also involved in breaking windows of parked vehicles and stealing valuables from them.

SIU team also recovered a

corolla car (BCG-307) used by this gang in various criminal activities. They have been identified as Saeed Saleem, Murad and Hussain residents of House # 9 street # 6 Model Colony Malir Karachi.

Initial investigation has revealed that they broke door mirror of vehicle of Muhammad Nadeem parked in blue area Islamabad on June 15, 2016 and stole cash from it.

Further interrogation is underway from them police is hopeful for more recovery.

garments exports increase 4.17% in 7 months ISLAMABAD

cuStoMS BuLLetIN report www.customsbulletin.com

he readymade garments exports from the country during first seven months of current financial year increased by 4.17 percent as compared to the exports of the corresponding period of last year. According to the data released by Pakistan Bureau of statistics, during the period from July-January, 2016-17, country earned $1.301 billion by exporting about 18,834 thoand dozen of readymade garments. The export of readymade garments from the country in first seven months of last financial year was recorded at 18,296 thoand dozen valuing $1.249 billion. Meanwhile, bed wear worth $1.225 billion exported from the country which was 5.7 percent higher then the exports of $1.166 billion of same period last year. In first 7 months of current financial year, about 204,663 metric tons of bed wear exported as compared to the exports of 187.277 metric tons of the same period last year. During the period under review tents, canvas and tarpulin worth $ 85.575 million were exported as compared to the exports of $ 53.197 million of same period of last year, showing an increase of 60.86 percent.

T

SBp urged to address disparity in agri credit LAHORE

G

cuStoMS BuLLetIN report www.customsbulletin.com

rowers and farmers community Sunday urged the State of Pakistan (SBP) to immediately implement Agricultural Credit Advisory Committee (ACAC) recommendations regarding address of geographical and sub-sectoral disparities in agriculture credit distribution.

Talking to APP here, Kisan Board Pakistan (KBP) Senior Vice President Sarfaraz Ahmed Khan and Pakistan Muttahida Kisan Mahaaz (PMKM) President Muhammad Ayub Mayo said that banks usually prefer providing agricultural lending facility only to inSluential growers/ farmers, and ignore the small and genuine ones.

Quoting a news report published in a section of the press, the Kisan leaders said that following the ACAC

advice, the SBP is considering setting sub-sector and district-wise targets for banks. With this target pattern, they hoped that geographical and sub-sectoral disparities in agriculture credit distribution would be addressed with farm-lessbanked agri-business getting better access to Sinances.

Kisan Board SVP Sarfaraz Ahmed Khan said that banks try to meet SBP monetary targets of agricultural credit by lending more to old bor-

rowers, or by making fresh loans to new and inSluential farmers. The respective banks, he complained, least bother to facilitate the small farmers, or focus on a particular region and speciSic areas of farming for agri lending.

He argued that 86.8 per cent of farm/land is held by small farmers i.e. 58 per cent of farmers owned one to five acres of agri land, and 28.8 per cent owned 5 to 12.5 acres of agri land, adding that

country’s per acre yield is low against its potential and most of the population is attached with the agriculture sector. Sarfaraz said, “Small farmers are most deserving and genuine segment of agri sector and they must be given agri loans on priority basis to enable them to adopt new technological farming methods and use the best quality seeds, guaranteeing enhanced yield.”

www.customsbulletin.com

ADVERTISEMENT

5

6

www.customsbulletin.com

www.customsbulletin.com

ISLAMABAD

M FAIZAN

www.customstoday.com

D

irectorate General Customs Intelligence and Investigations, Federal Board of Revenue, has seized joint accessories of bridges and top anchor plates of Italian origin and 120 pieces of armor ballistic plates at West and East Wharf, Karachi, worth Rs 21.4 million.

According to the details Customs Enforcement, Karachi, has seized two consignments after the same were cleared by Customs Appraisement East and West.

The importers of these consignments, M/s SMA Engineering and Services Lahore and M/s Pak Armoring (Private) Limited Karachi, had attempted to clear the consignments on the basis of fake commercial invoices, but they failed. On a tip-off, the customs intelligence staff checked the consignments and found fake invoices.

The original Letter of Credit (LC) and commercial invoices were retrieved from the relevant banks. The value of seized consignments is Rs. 21.4 million and evaded taxes and duties amount Rs 9.7 million.

Meanwhile, The Directorate General Customs

Tuesday, February 28, 2017

Intelligence and Investigation of the Federal Board of Revenue has seized a huge quantity of narcotics worth billions of rupees during the last four months. Besides, the directorate has recovered duty and taxes worth millions of rupees.

According to the Sigures released by Directorate General Customs Intelligence and Investigations to Customs Today, at least 100 kilograms

heroin, 2,561 kilogram charas and 12 kilogram opium worth Rs 2.5 billion were sized during special operations all over Pakistan.

It is necessary to mention here that during last year of the same period, the directorate general had seized narcotics which included six kilogram heroin, 1,153.5 kilogram charas and 8 kilogram opium.

According to the Sigures the performance of Directorate General has been increased as compared with the performance of previous year. While on the other hands Directorate General I&I has collected revenue of Rs 360.89 million under the head of evaded duty and taxes in last four months. While during the same period of last year Directorate General had recovers Rs 217.39 million in terms of evaded tax and duties.

It is also pertinent to mention y b ed s a here that present Director e l e u re s r General Shaukat Ali after asg fi s e m th to s o u t c suming the charge of as Dig l n a di gener ns to Accor rector General Customs o e i t t a a r g o sti e v I&I in 2nd week of Octon D i re c t I st 100 ce and ber 2016, the directorate a n e e l g t i l y, a ms a a r Intel showed tremendous perd g o t o ms 61 kil formance. custo um n, 2,5

i pi s of o s h e ro m m a a r r g g ing o kilo d dur e 12 kil z i d s n e a s wer tan chara pakis billion r 5 e . v 2 o s r s all worth ration e p o l specia

7

8

www.customsbulletin.com

Founder & Chairman Zulfiqar Ali Editor rahil Yasin editor@customsbulletin.com.pk For advertising & subscription marketing@customsbulletin.com.pk www.customsbulletin.com Phones: 042-35781643-4, Fax: 042-35781645 Address: 627, Siddiq Trade Centre, Gulberg, Lahore

eDItorIAL

Dilemma of trade deficit

t

he government is doing all the lip-service according to its capacity to ensure the nation that it is ready to burn midnight oil to increase the export of value-added goods and besides exploring new markets, it is also signing free trade agreements with various countries of the world for the purpose. However, in the wake of double-digit growth in imports and continuous decline in exports, the trade deficit has widened up to 28.7 percent during the first seven months of the current fiscal year. The latest trade figures show that the country has crossed its limits of trade deficit and registered a deficit of $17.42 billion during the period in review which is equivalent to 85 percent of the annual target. If this trend continues, the country will likely to have over $4.5 billion annual current account deficit as exports remained less than half of the annual target during the last seven-month and imports remained two-thirds of the annual projections.

The ministry of commerce is holding talks with Thailand in March to sign free trade agreement while the two sides have already completed a draft of agreement and discussed tari reduction modalities. The talks with Thai authorities have been going on since September 2015, held six round of talks, and still could not remove the trade barriers coming in the way of the agreement. Regarding a free trade agreement with Turkey, the two sides have completed five rounds of talks to remove trade barriers, but could not announce a deadline to sign the agreement. On another note, the expenses of negotiations and visits are continued to be borne by the taxpayers in the country. Again, fine words butter no parsnip. The talks between Pakistan and South Korea remained inconclusive so far on the matter of a free trade agreement between the two. The sides are now exploring the possibilities of an agreement by agreeing to hold a joint feasibility study. As a matter of fact, the government is not paying attention to provide relief to the local industry which has been struggling for its survival for the last several years. The energy crisis still persist despite the fact the current government has consumed three and half years of tenure. The problem is that it is still far from talking a proactive approach to overcome crisis.

Unless the government improves internal economic situation, the agreements with foreign countries will be a futile exercise.

Living between hope and despair T

LAHORE

Dr AFtAB AFZAL

www.customstoday.com

he nation is oscillating between hope and despair.

The international media has predicted that Pakistan has the potential to become one of the economic giants in a few decades but the current wave of terrorism has shattered all the dreams of this nation. The country is already facing mismanagement, energy crisis, corruption and repeated incidents of money laundering and capital Slight. The reason behind a sudden rise in terrorist activities is no more a secret. A hostile neighbor has set up a network of spies, saboteurs and agents to destabilize the

country. Pakistan has very slow inSlow of foreign investment and even than it received over a billion dollars in seven months of the current Siscal year. The Chinese investment is also pouring in and new industrial parks and zones are planned along the economic corridor. The world media reports are predicting a very bright future of Pakistan and its economy is likely to grow at the rate of 5 percent this year. But the sudden spat of suicide bombing has changed the outlook of this country.The enemy has unleased all the tricks and conspiracies to bulldoze the chances of economic prosperity of this country.

What the government has to do at the Sirst place is to break the backbone of terrorists and

their supporters without keeping into account any expediency.

Whosoever is involved in terrorism should be dealt with an iron hand. On the other hand, a meeting of the foreign heads of missions in Islamabad should be called in to inform them about the current situation in the country. The foreign diplomats should be given a brieSing with proofs of the Indian involvement in suicide bombing in Lahore, Sehwan Sharif and elsewhere. It is also necessary to call a meeting of the Pakistani ambassadors to give them advice on the emerging situation. The whole of Pakistan is burning, fears have engulfed the whole population from FATA to Karachi and Quetta to Lahore, but the government is still relying on

its lip-service. Only army has gone into the action and the civil government is apparently in quandary not knowing exactly what it should do in this situation or from where it should have to take a start. The main concern for the civil government should be to devise economic policies and maintain conducive economic environment in the country.

The responsibility of the government has increased manifold after the inSlow of Chinese investment in the country. The provincial governments should also take responsibilities for the security lapse and motivate the police department and other lawenforcement agencies under its control to ensure peace and security in the country.

9

www.customsbulletin.com

Nordex tumbles as it warns of revenues dip in 2017 WASHINGTON: Nordex reduced its revenues forecast for this year amid lower business expectations in some core markets, sending its shares down 17.6% to €13.67 in late afternoon trading in Frankfurt today.

During a review of figures for this financial year and the medium-term target for 2018, Nordex said revenues this year are likely to dip to between €3.1bn and €3.3bn, a drop compared to 2016. While Nordex has not yet released its financials for last year, the company’s revenue guidance for 2016 is €3.35bn. The reason behind its lower expectations is less business in “certain” markets, although the company did not give further details. One of Nordex’s core markets is its home turf, Germany, where it installed 267 units in 2016, a substantial boost compared to 176 turbines in 2015. The company is also a large player in the French market and in the Americas region.

LccI submit its budget proposals to FBr LAHORE

cuStoMS BuLLetIN report www.customsbulletin.com

akistan Computer Association submitted its budget proposals to the Lahore Chamber of Commerce & Industry for onward submission to Federal Board of Revenue.

A seven members delegation, led by the President of Pakistan Computer Association (PAC) Basharat Ahmad Baloch called on the LCCI Acting President Muhammad Nasir Hameed Khan and informed him about the challenges being faced by the them. The PAC Chairman said that the Information Technology industry is at present faced with the imposition of 17% sales tax being charged on the

P

component parts assembled inside the computers, thereby neutralizing the government’s budgetary announcement under which the computer/laptop bearing the same component parts were placed under the zero-sale tax regime.

He said that amendment in the existing Tax Policy with a view to help the IT industry in smooth and unhindered running of its business as well as to help the government in enhanced revenue generation. Basharat Baloch said PCA believes that its proposals/recommendations if accepted and included in the upcoming budget will help creation of jobs, development of higher level of skills, development of new technologies, innovation in industry, transfer of knowledge, economic development, opportunity for government to document, Encouragement of R&D culture, ripple effect benefits in greater broadband adoption, saving of foreign exchange, lesser reliance on foreign countries to fulfill local needs, potential emergence of viable specialized logistics catering to manufacturing companies.

Tuesday February 28, 2017

Chambers

Azerbaijan interested in business collaborations with pakistan A

ISLAMABAD

cuStoMS BuLLetIN report www.customsbulletin.com

16 member delegation of Azerbaijan led by Vice Chairman Yousif Abdullah, Azerbaijan Export and Investment Promotion Foundation visited Islamabad Chamber of Commerce and Industry to discuss and explore business collaborations. Ambassador of Azerbaijan Ali Alizada also accompanied the delegation. The delegation was representing various sectors including oil & gas, steel, transport, food processing, farming, trade, packaging and paper industry, production of fruits & vegetables, milk and dairy products, chocolates, hospitality, furniture, cosmetics, mineral waters, cotton and other sectors.

Speaking at the occasion, Ali Alizada, Ambassador of Azerbaijan said that during 2016, bilateral trade between Azerbaijan and Pakistan witnessed three times increase, but there was still lot more potential to improve it. He said leadership of both countries was determined to establish strong bilateral trade and economic relations, which was reaf-

Sirmed during the visit of Prime Minister Nawaz Sharif and Commerce Minister Khurram Dastgir to his country in 2016. He hoped that the current visit of Azerbaijan delegation to Pakistan will help in exploring new areas of mutual cooperation. Yousif Abdullah, Vice Chairman, Azerbaijan Export and Investment Promotion Foundation said that many compa-

nies of Azerbaijan were interested in doing business with Pakistan. He said the purpose of their current visit to Pakistan was to study Pakistani market and explore opportunities of business collaborations in agriculture and other Sields. He said Azerbaijan offered attractive incentives to foreign investors and provided 7 year tax holiday for investing in its Industrial and

Indonesian diplomat urges businessmen to diversify exports

C

KARACHI

cuStoMS BuLLetIN report www.customsbulletin.com

onsul General of Indonesia, Dempo Awang Yuddie has urged the business and industrial community of Karachi to diversify their exports to Indonesia in order to improve their existing share in the Indonesian market.

Speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI), the Indonesian Consul General said that some traditional items including leather, rice, footwear, kinnows, cotton and textile products etc. were currently being exported to Indonesia but there were so many other sectors in which trade can be improved.

“Similarly many Indonesian products can also be introduced in the Pakistani market. During my tenure as Consul General, efforts will be made to promote trade and investments between the two countries in not just traditional sectors but all sectors of the economy”, he added. President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro, Chairman of Pakistan-Indonesia Business Forum Shamoon Zaki and KCCI Managing Committee members were also present at the meeting.

The Indonesian CG further said that Pakistan was a very important country for Indonesia and so was Indonesia for Pakistan. It was a matter of satisfaction that both countries have been enjoying good polit-

ical, economic and cultural relations.

Stressing the need to effectively promote Pakistani products and services in the Indonesian market, he invited the business and industrial community of Karachi to participate in a Trade Expo in Indonesia which is organized every year in the month of September and October. He also underscored the need to explore some of those potential areas which could attract Indonesian investors.

In response to Karachi Chamber’s invitation pertaining to Indonesian participation in 14th My Karachi – Oasis of Harmony exhibition, the Consul General said that details of this mega event have already been disseminated amongst the Indonesian Business & Industrial community.

Technology Park. He stressed that Pakistani businessmen should explore investment opportunities in his country. In his welcome address, Khalid Malik, Senior Vice President, Islamabad Chamber of Commerce and Industry said that Pakistan and Azerbaijan enjoyed good political relations, but bilateral trade was not up to the desired level.

russia decreased palm oil imports by 12% ussia purchased 84.4 KMT of palm oil in December 2016, or 27.7% more than in the previous month (66.1 KMT), but 11% less than in December 2015. The rise in palm oil imports reversed their downward trend seen in the first months of 2016/17. In total, palm oil imports dropped almost 12% yearon-year in September-December 2016/17, to 316.4 KMT against 359.4 KMT at the same time a year earlier, reports UkrAgroConsult.

The month of December 2016 brought no drastic changes to the range of palm oil suppliers to Russia.

As before, the top supplier is Indonesia (77% of total imports), but the current season features a decrease in deliveries to 244.7 KMT against 307.3 KMT a year ago. –CB Report

R

10

www.customsbulletin.com

Faisalabad FIA arrests notorious human trafficker Tuesday February 28, 2017

National FBr will meet its targets as tax collection stands at 6 percent FAISALABAD

NAeeM SheIkh

www.customsbulletin.com

FAISALABAD: The Federal Investigation Agency (FIA) has arrested a human trafficker namely Afzaal Ahmed Mushtaq son of Khadim Hussain.

Sources told Customs Today that FIA Deputy Director Syed Imam Zaidi and Subinspectors Taimoor Haider and Abbas Bajwa conducted a raid on the whereabouts of the accused person who was running an illegal business of sending innocent people abroad after extorting amounts from them. The accused persons also extorted Rs133,330 from complainant Ajmal for sending him to Dubai.

Dg rangers to remain steadfast in facing multiple challenges A

LAHORE

cuStoMS BuLLetIN report www.customsbulletin.com

he Federal Board of Revenue will be able to meet its revenue targets for the current financial year as the growth in tax revenue collection stands at 6 % after the passing of seven and a half months of current financial year. According to sources, the Federal Board of Revenue has collected Rs1800billion tax revenue as compare to last year’s revenue of Rs1690billion in the same period. The FBR needed to receive Rs1821billion in four and a half months to meet the revenue targets of current financial year. In the first 15 days of February 2017 (Till 15thFeb), the FBR generated Rs115billion while it had collected Rs143billion in last year during the same period. Although there is a 31 % increase in customs duties and 18% in income tax revenue yet the total growth in revenue is 6 to 9 %. This year on 15th of February, the FBR has earned Rs25billion while it had collected Rs43billion in a single day during last year.

T

gawadar customs recovers 12kg charas worth rs1m he Gawadar Customs foiled an attempt to smuggle fine quality charas weighing 12 kilogram, worth Rs1 million and arrested 2 accused in an operation.

According to details, Collector Gawadar Customs Saeed Akram received a tip-off about transportation of narcotics in a car from Khar, Gawadar to Karachi. Saeed immediately constituted a special team of the Customs Anti Smuggling Organization (ASO) under the supervision of Inspector Ghulam Rasool to foil the smuggling attempt. The ASO team established check post at the exit points of the city and started checking vehicles.

T

Sector Commanders Conference was held at Headquarters Pakistan Rangers (Punjab), Lahore. The conference was presided over by Director General, Major General Azhar Naveed Hayat Khan, and attended by all Sector Commanders and Principal Staff Officers. During the meeting, operations, internal security, training and administrative matters were discussed.

Addressing the participants Director General Punjab Rangers expressed his satisfaction over state of training and operational preparedness, and directed all commanders to follow focused approach to further build upon the existing framework in meet-

ing the upcoming challenges under evolving environment.

He appreciated operational preparedness of Rangers troops

deployed along Working Boundary and reiterated on readiness to give befitting response to any ceasefire violation from across the border. While dilating upon the prevailing terrorist incidents, he instructed all commanders to remain vigilant in respective areas of responsibility and take effective counter measures. To thwart terrorist nefarious designs and contribute in ensuring peace, Ranger’s employment in threatened areas was also deliberated upon.

Director General reiterated the resolve and commitment of Pakistan Rangers (Punjab) to remain steadfast in facing the multiple challenges confronting the national peace and security in cohesion with other law enforcement agencies.

customs court rejects bail before arrest of smuggler

C

KARACHI

M BILAL

www.customsbulletin.com

ustoms Court Judge Syed Faiz Rasool Rashidi dismissed a bail before arrest of accused Abdul Jabbar S/o Haji Abdul Rahan who had been absconder since long in a case of attempting to smuggle/non-duty paid 25,000 litres HSD oil from Hub Balochistan to interior Sindh.

After the dismissal of bail application, officials of the customs authorities arrested.

During the hearing, counsel for the applicant/ accused argued that his client is innocent and was falsely implicated in the case who is ready to face trail therefore the court may grant him bail till the Sinal disposal of this case. However the Customs Department opposed his bail application.

After arguments, the court dismissed his bail before arrest and observed in its order that “record shows that applicant/ accused was shown as absconder in charge sheet.

Accused has been absconder since

long and non-bail able arrest warrant was already issued against him.

The applicant/accused is deeply involved in transportation of smuggled HSD which was seized by the seizing ofSicer. The accused is the

owner of the vehicle in which alleged smuggled HSD was transported. The offence committed by the accused is punishable with 14 years’ imprisonment and as such falls within the clauses of Section 497 CR. PC. The

speciSic role had been attributed to the applicant/ accused person. The charge-sheet shows that accused is fully involved in smuggling therefore bail before arrest application is hereby rejected”.

11

www.customsbulletin.com

Customs Valuation revises value of lawn tennis balls KARACHI: The Directorate General of Customs Valuation has revised Customs value of lawn tennis balls through Valuation Ruling No 1046/2017 under Section 25A of the Customs Act, 1969. According to details, the directorate general has earlier circulated reference customs values of Lawn Tennis Balls Vide Valuation Data Base Letter No.81/2016, dated 18-11-2016.

Some importers approached the directorate general and requested to revisit the values notiďŹ ed in the VDB and issue valuation Ruling for uniform applicability. Therefore, the directorate general initiated an exercise for determination of Customs values for the subject goods.

Senate body to probe rs20b payment by pph ISLAMABAD

M FAIZAN

www.customsbulletin.com

he Senate Sub-Committee on Finance has decided to investigate the issue of payment of sales tax of Rs20billion by private power houses and sought a report from the Federal Board of Revenue in this regard. The committee will also take feedback from field officers of regional tax offices concerned. The meeting of the sub-committee was held under chairmanship of Senator Mohsin Aziz. Auditor General briefed committee on the report of payment of Rs480billion circular debts. Senator Mohsin Aziz said the government has opened bank accounts to borrow loan just in a day

T

for the payment of circulars debts of Rs 480 billion. The government has approved the payment without prior approval of the Auditor General.

Markup of Rs10billion also had been paid, and payment of circular debts has been taken in emergency. Senator Kamal Ali Agha said it is against the government law and rules. The capacity of power plants is not being increased but more plants are installed by the IPPs. Saud Majeed said the committee has an objection on wrong payments. Although industrial, trade activities and loadshedding are angering the businessmen and common men yet excess payment of Rs32billion has been be made. The committee convener said there is a big gap between supply and demand. We have to determine as to who is responsible for payments. Adjustments should be paid first, he emphasized.

The auditor general told the committee, despite additional payments of Rs32billion, the electricity has not been purchased.

Tuesday February 28, 2017

National

Shc bars tax authorities from enforce recovery in Abdullah oil Industries case T

KARACHI

M BILAL

www.customsbulletin.com

he Sindh High Court (SHC) restrained the tax department from enforce recovery of impugned demand on a constitutional petition Siled by M/s Abdullah Oil Industries against recovery notice issued by the Deputy Commissioner Inland Revenue E & C Unit-1 ZoneIII LTU Karachi.

While the hearing, a two-member bench, headed by Justice Aqeel Ahmed Abbasi also issued notices to the tax department and deputy attorney general of Pakistan and directing them to Sile their respective para wise comments on next date of hearing, court adjourned the hearing for March 02, 2017.

Earlier, during the hearing, Naeem Suleman Advocate, counsel for the petitioner submitted that pursuant to an order passed by said respondent on 23/12/2016 under section 221 of the income tax ordinance 2001, for the tax year 2011, the petitioner has preferred on appeal along with stay application before the Commissioner (Appeals-IV) Inland Revenue LTU Karachi, which is pending, however, during the dependency of

such appeal, respondent issued a recovery notice dated 23/12/2016 under section 137 (2) of the income tax ordinance 2001, and intends to adopt coercive measures for the recovery of the impugned demand, which is subject matter of appeal. Citing Sectary Ministry of Finance, Chairman Federal Board of Revenue

(FBR), Commissioner lnland Revenue Appeals-IV, LTU and the Deputy Commissioner Inland Revenue E & C Unit-1 Zone-III LTU Karachi as respondents, petitioner pleaded the court may restrain the respondent from taking any coercive action against the petitioner till Sinal decision of the appeal.

Faisalabad ASo seizes goods valued rs 04.53m in Feb 2nd week FAISALABAD

NAeeM SheIkh

www.customsbulletin.com

he Anti-Smuggling Organisation (ASO) carried out various operations against smugglers and confiscated goods worth Rs04.53million during the second week of February 2017. Deputy Collector Muhammad Rizwan and his team, comprising Superintendent Saeed Akhtar Joiya, Inspectors Khalid Ashraf Noor, Ali Zahid and Sepoys Liaquat Ali, Israr Ahmad and Muhammad Abdullah, confiscated goods and a vehicle under the Customs Act-1969. The ASO also impounded a non-duty-paid vehicle under Section 16 NDP valued Rs01.02 and imported smuggled cloths weighed 1130 kg priced Rs450312, F/O tyres ( 123-pcs) worth Rs600000 and other miscellaneous items valued Rs1802560. All the items were brought into the country without payment of customs duty and taxes. The Faisalabad ASO seized these items on the violation of Import and Export Control Act-1950 punishable under Section 156(1) 89(i) and 90 of the Customs Act-1969 and forwarded the cases to Customs Adjudication for further legal action.

T

Dg Valuation revises customs value of coaxial cables

T

KARACHI

cuStoMS BuLLetIN report www.customsbulletin.com

he Directorate General of Customs Valuation revised the customs value of coaxial cables through Valuation Ruling No 1045/2017 under Section 25A of the Customs Act, 1969.

According to details, customs values of Coaxial Cables were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.243/2010, dated 05-042010. The Valuation Ruling required revision in line with the prevailing prices in the international market.

Therefore, the Directorate General

initiated an exercise for determination of customs values of Coaxial Cables. Sources said that a meeting with stakeholders was held on 1302-2017. Importers had been requested to furnish invoices of imports during last three months showing factual value, websites, names and E-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained, copies of contracts made/LCs opened during the last three months showing the value of item in question, copies of Sales Tax invoices issued during last four months showing the difference in price (excluding duty and taxes) to

substantiate that the beneSit of difference in price is passed on to the local buyers. However no documents were submitted in the Directorate General on or even before the said scheduled meetings.

During the course of the meeting, the stakeholders claimed that the values of raw material of the Coaxial Cables without PVC Jacket of China origin have actually reduced in the international market as compared to the values determined in the existing valuation ruling. Therefore, the values need to be revisited downwards accordingly. They were requested to submit import invoices, sales tax invoices, literature, evidences and other relevant requisite import doc-

uments in support of their contentions. They did not provide any documents or evidence to substantiate their contentions. 25 of the Customs Act, 1969 were followed to arrive at customs values of Coaxial Cables. Transaction value method provided in Section 25 (1) was found inapplicable owing to wide variation in the values being declared to the customs. Identical/similar goods value methods vided in Section 25 (5) & (6) were examined for applicability to the valuation issue in the case which provided some reference values of the subject goods but the same could not relied upon due to wide variation in declared values of subject goods.

12

www.customsbulletin.com

Vodafone’s UK tax bill falls 20% to £257m Tuesday February 28, 2017

World

LONDON: Vodafone’s direct tax contribution to the UK Treasury dropped by a fifth in the last financial year, as payments related to its 2010 settlement with the tax authorities wound down. The telecoms company paid £257m in “direct” taxes in its home market during the year, down from £320m the year before. Those taxes include business rates and other payments, but not corporation tax, after it made a pre-tax loss of £486m in the year to March. The figures were included in the company’s annual breakdown of its tax and other payments to governments in markets where it operates. It is the fifth time that Vodafone has published the report, which it compiles to counter criticism of its tax structures. The company said that globally, it paid £5.3bn in “indirect” contributions to the public purse, such as national insurance and the tax on income that it collects, and £2.2bn in “direct” taxes during the year.

Iran carpet exports $500 million in 10 months

Saudi cabinet approves gcc selective tax RIYADH

cuStoMS BuLLetIN report www.customsbulletin.com

TEHRAN

cuStoMS BuLLetIN report www.customsbulletin.com

S

S

ome $500 million worth of carpets were exported from Iran during the 10 months to January 19, according to the deputy minister of industries, mining and trade. “Hand-woven carpets account for $224 million and machine-made for $276 million of the exports,” Hossein Abouei was quoted as saying by IRNA. The ofSicial noted that Iran produces 125 million square meters of machine-made carpets every year and that Kashan, a city in Isfahan Province, is the biggest hub producing 70 million square meters per year. The main export destinations of Iranian machine-made carpets are Afghanistan, Iraq, Turkmenistan and Pakistan.

Last week, Hamid Kargar, the head of Iran’s National Carpet Center, put the export of hand-woven

uk retailer tesco enters pakistan market esco PLC, the British transnational grocery and general merchandise retailer, has entered the Pakistani market with a bang after joining hands with Karachi-based Alpha Supermarket, a statement said on Wednesday.“United Kingdom’s brands, especially those as big as Tesco, have a real advantage in Pakistan as they are already recongisable to the people, who have visited Britain,” British High Commissioner Thomas Drew said after inaugurating Tesco label products with Limestone Private Limited at the British Deputy High Commission in Karachi. “At the heart of this will be increased trade between our two countries and I hope Tesco s launch is just the start of a new era of British Pakistani trade.” Drew added this is a particularly important year for this to be happening in Pakistan. –CB Report

T

Iranian carpets during the 10month period at 4,400 tons worth $275 million. He said the Sigure registered a 19% rise compared with the corresponding period of last year. “Direct exports to the US accounted for $69 million of the total sum. This is while last year we had no exports to that country,” he said.

Meanwhile, For the Sirst time in

Iran’s 100-plus oil industry history, the country’s oil product exports reached 450,000 barrels per day (b/d) in 10 months of the current Siscal year (started March 21), CEO of the National Iranian Oil ReSining and Distribution Company (NIORDC) Abbas Kazemi said The volume is expected to reached 600,000 b/d in the next Siscal year.

china’s steel exports continue to slump in January

C

hina’s steel exports fell 23.2 percent year on year to 7.42 million tons in January as the number of trade barriers rose, ofSicial data showed Thursday. The plunge in January extended the 26.8percent decline seen in December 2016, according to the General Administration of Customs (GAC).

Rising trade protectionism amid a global glut has weighed on China’s steel exports, which dropped 3.5 percent to 108.4 million tons last year. In

2016, there were 48 trade cases Siled by 20 countries and regions against China’s steel products, a 29.7 percent rise from the previous year, according to Lange Steel Information Research Center. China, the world’s largest steel producer and consumer, has repeatedly stated that the root cause of the global steel sector’s woes is a sluggish world economy and shrinking demand, and it is a global challenge that needs to be tackled through shared efforts. –CB Report

audi Arabia’s Cabinet has approved the introduction of the “selective tax” that is being rolled out across the Gulf Cooperation Council (GCC) member countries. The tax is to be levied on luxury items and products that are “harmful to human health and the environment.” Its scope and rates will be the same for all GCC states – Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.

At a meeting on June 16, 2016, the GCC ministers of Sinance approved a common framework for the development of national regimes for customs duties and value-added tax. The agreement paved the way for the introduction of harmonized excise duties on these speciSic goods from January 1,

A

2017, the implementation of which has now been delayed, and a panGCC value-added tax (VAT) framework from January 1, 2018.

Meanwhile, Al Rajhi Bank, Saudi Arabia’s second-biggest bank by assets, aims to take advantage of opportunities arising from the country’s economic diversiSication plan to boost its share of corporate lending, its CEO said. Al Rajhi, Saudi Arabia’s biggest Islamic lender, is one of the dominant players in the kingdom’s consumer banking market, but has only around a 7 percent share of corporate lending. It aims to use the government’s National Transformation Plan (NTP) as a springboard to become one of the kingdom’s top Sive corporate banks by 2020. “In 2016 we gained market share [in corporate banking] for the Sirst time in four years,” Chief Executive Steve Bertamini said in an interview. “We believe we can steadily increase our exposure in that sector and will give us a better balance within our overall portfolio.”

Amazon to create 5,000 jobs in uk mazon has revealed plans to create 5,000 more jobs in the UK this year – boosting its workforce by over a quarter. The company said the roles with “competitive pay” would be across the business, from software developers, engineers and technicians to entrylevel positions and on-the-job training across its UK head ofSice in London; Customer Service Centre in Edinburgh; Fashion Photography Studio in Shoreditch and other fulSilment centres across the UK. New jobs will also be created at its Development Centres in Cambridge, Edinburgh and London where em-

ployees work on global customer innovations like Alexa, Prime Air and Prime Video. The extra staff will see the company’s overall UK employees grow by 26% to 24,000.

The move has been seen as some as a sign of commitment to the UK following its vote to leave the European Union last June. Doug Gurr, UK country manager for Amazon, said: “We are creating thousands of new UK jobs including hundreds of apprenticeship opportunities as we continue to innovate for our customers and provide them with even faster delivery, more selection and better value. –CB Report

russia loses wto appeal over ban on pork imports

R

MOSCOW

cuStoMS BuLLetIN report www.customsbulletin.com

ussia lost its appeal against a World Trade Organization ruling on its ban on imports of European Union pigs and pork products. Moscow imposed a ban on most Western food imports in August 2014 after Western sanctions were

launched over its role in the Ukraine crisis. It imposed the pig and pork ban after a few cases of African swine fever in some parts of the EU that year. Thursday’s ruling means Russia will be expected to bring its rules into line with the WTO’s. If the EU is not satisSied that it has done so, it could ask to be allowed to impose sanctions on Russia to compensate.

That though would probably take

years. A WTO adjudication panel ruled against the ban in August 2016.

Russia appealed, and the WTO’s Appellate Body upheld the ruling, albeit on different grounds, and reversed one of the panel’s Sindings in favour of the EU. “Today’s ruling reconSirms that the measures taken by Russia against the EU have little to do with any real sanitary or health risks. EU products from disease-free areas are

safe,” the European Commission said in a statement after the ruling. The EU called on Russia to withdraw its “unjustiSied measures” and said Moscow’s protectionist policies affected a wide variety of economic sectors.”For most of the products dealt with in this case, trade continues to be restricted by a politically motivated ban Russia imposed on EU agrifood products in August 2014,” it said.

13

www.customsbulletin.com

Singapore UOB’s Q4 profit falls 6% in 2016 SINGAPORE: United Overseas Bank (UOB) beat expectations in the fourth quarter, thanks to its capacity to limit damage from souring loans to the beleaguered oil and gas sector.

Net profit for the three months to Dec 31 was down 6.2 per cent from a year earlier to $739 million, as revenue eased 2.5 per cent to $2.03 billion in that period. The results were better than the 7.4 per cent profit drop forecast.

Net interest income was down 0.1 per cent year on year to $1.28 billion, with net interest margin dropping from 1.79 per cent last year to 1.69 per cent. Non-interest income fell 6.3 per cent to $753 million.

Australia legislates for low value import gSt reforms he Australian Government has introduced legislation to extend the goods and services tax (GST) to low value imports from July 1, 2017. The legislation, introduced on February 16, requires overseas vendors, electronic distribution platforms, and goods forwarders with an Australian turnover of AUD75,000 (USD57,528) or more to register for, collect, and remit GST for low-value goods supplied to consumers in Australia.

Currently, low value goods – i.e. goods with a customs value of AUD1,000 or less – are generally not subject to GST when imported directly into Australia by the recipient. Small Business Minister Michal McCormack said: “The Government understands Australians are increasingly shopping online from overseas vendors who are able to offer items without tax. This means goods they provide can be cheaper than those offered by Australian businesses giving an unfair advantage to foreign businesses. For many Australian small businesses, this has an impact on competitiveness as consumers flock to purchase cheaper imports.”

T

uAe warms up to solar power he solar power industry in the Middle East and North Africa region, with the UAE continuing to dominate the market in terms of large projects. The UAE will continue leading the industry, with the implementation of two mega solar photovoltaic (PV) projects awarded and one concentrated solar power (CSP) project up for tender in the first half of 2017 in Dubai. Wim Alen, general secretary of the Middle East Solar Industry Association (Mesia), noted that the increasing demand for electricity, drinking water, and cooling in an environment that more and more recognises the value of sustainable clean energy will accelerate further solar penetration in the Middle East for both centralised and distributed power plants, and also have a wider impact on solar thermal power in industrial applications. –CB Report

T

World Customs

uS customs to check chinese visitors’ social media accounts

Tuesday February 28, 2017

turkey ready to offer customs privileges to Azerbaijan urkey is ready to exempt importers of products manufactured in Nakhchivan Autonomous Republic of Azerbaijan from paying customs duties, Turkey’s Minister of Food, Agriculture and Livestock Faruk Celik said in an exclusive interview with Trend. He said that in order to meet the needs of Turkey’s eastern provinces in food products, certain goods can be imported from neighboring countries as part of border trade. “At the same time, Turkey must act in accordance with the rules of the World Trade Organization,” the minister noted. In 2016, the Cabinet of Ministers of Turkey adopted a resolution on regulation of border trade, according to which goods will be imported within the set limit from Nakhchivan to Turkey’s border provinces, Celik said. “In connection with this resolution, zero rate of customs duty will be introduced for goods imported from Nakhchivan.

Nakhchivan is a nexus between Turkey and Azerbaijan. It has strategic importance because of its location,” the Turkish minister said. Azerbaijani Deputy Economy Minister Sahil Babayev has earlier told Trend that Azerbaijan is negotiating with Turkey for granting customs privileges to exporters of products manufactured in Nakhchivan Autonomous Republic. “As you know, the customs duties for imported products are very high in Turkey. –CB Report

T

WASHINGTON

cuStoMS BuLLetIN report www.customsbulletin.com

T

he US Customs and Border Protection wants to begin asking Chinese visitors to voluntarily disclose their social media handles when they enter the country. The agency has entered a proposal earlier this week to be published in the Federal Register detailing some changes to the electronic visa system used to vet visitors. The proposal calls for the Department of Homeland Security to add an additional question to the existing Electronic Visa Update System (EVUS): “Please enter information associ-

ated with your online presence – Provider/Platform – Social media identifier.” The question would be optional, but would be used to help screen those who apply for a visa to the United States as needed. The proposal notes that it would affect roughly 3.6 million applicants. According to Politico, the agency hasn’t stated which social media networks would be included on the form. EVUS is an online system used by Chinese nationals “holding a 10-year B1/B2, B1 or B2 (visitor) visa periodically to update basic biographic information to facilitate their travel to the United States.” DHS notes that the system makes it easier to screen visitors, and that the question would help with that process.

This isn’t the first time that the CBP has looked into traveler’s social media profiles. In June, a similar system was proposed for the visa waiver program, applicable to many European and Canadian visitors. The system was ultimately put in place later that year.

Customs has also become aggressive at asking for the accounts in person, and the Trump administration has discussed the possibility of making the disclosure of such information mandatory. The proposal will be published on Tuesday, February 21st, and the public has 60 days to comment on the new proposal before it will be formally considered. Comments can be mailed to Customs and Border Protection at its Washington office.

hong kong’s steel scrap exports surged 10% in 2016

T

HONG KONG

cuStoMS BuLLetIN report www.customsbulletin.com

he latest statistics released by the Hong Kong Census and Statistics Department indicate that the country’s steel scrap exports increased sharply during the month of December last year, upon comparison with the same month a year before. However, the exports declined when matched with the prior month. The steel scrap exports by Hong Kong regis-

tered second consecutive month of decline during the month. The yearly exports by the country surged higher in 2016.

According to statistics, Hong Kong exported 97,000 tons of steel scrap during December 2016. The exports increased significantly by over 29% when matched with those during the same month a year before. The country had exported nearly 75,000 tons of scrap steel during Dec ’15. Meantime, the Dec ’16 exports have declined by nearly 26% from those during No-

vember last year.

It must be noted that exports by the country during November last year had totaled 131,000 tons, down by nearly 7% from the highs recorded during October.

The primary destination of steel scrap from Hong Kong during Dec ’16 was Vietnam. The imports by Vietnam surged higher significantly by more than 300% over the previous year. The exports to Vietnam totaled 47,000 tons, thereby accounting for nearly 49% share of the total exports by Hong Kong dur-

ing the month. The second largest importer was Indonesia. The imports by Indonesia decreased marginally by 8.5% year-on-year to total 16,000 tons. The cumulative steel scrap exports by the country during the entire year 2016 totaled 1.347 million tons. The monthly exports averaged at around 112,250 tons during the year. The yearly exports were up by almost 10% over the previous year. The cumulative scrap exports by Hong Kong during the entire year 2015 had totaled 1.228 million tons.

14

www.customsbulletin.com

FIA confiscates huge quantity of unregistered stents Tuesday February 28, 2017

Lahore

LAHORE: Federal Investigation Agency (FIA) has seized a shipment of 15,000 stents.

According to FIA officials, the stents have been imported from Belgium by a pharmaceutical company, Pak Punjab Cardex Medicl System.

The FIA has already registered an FIR (20/2017) against the management of Pak Punjab Cardex Medical System for entering the bidding of stents supply to Mayo Hospital by submitting a fake registration letter of Drug Regulator Authority of Pakistan (DRAP).

Sources further said that after learning that a shipment of 15,000 stents have reached Lahore airport, they informed the Customs which seized the same a few days back.

Lhc to conduct regular hearing of chaudhary Sugar Mill case

ANF foils bid to smuggle 2.25kg heroin to Saudi Arabia

LAHORE

www.customsbulletin.com

SAJID NAwAZ

www.customsbulletin.com

T

he Lahore High Court adjourned the hearing of Chudhary Sugar Mills till 20th of February. The LHC also issued an order that learned counsels for the parties are in agreement, so instead of taking up the stay applications, main appeals be heard on a day-today basis from 20th of February 2017. It is also agreed between the parties that the august order for the respondents submits that restraining order dated 09.02.2017 passed by the august Supreme Court of Pakistan in civil petitions.

Appellant mills namely M/s Chaudhry Sugar Mills Ltd (R.Y. Khan), Ittefaq Sugar Mills (Bahawalpur) and Haseeb Waqas Sugar

prA issues notices to city’s 180 restaurants he Punjab Revenue Authority (PRA) has issued Sales Tax notices to 180 restaurants located in the posh areas of the city.

As per details available to Customs Today, teams of PRA, under the supervisions of additional commissioner enforcement, took action against those restaurants which were reluctant to pay tax on their heavy sales. The authority has issued second notices to all the restaurants.

It is pertinent to mention here that the PRA has started installing monitoring system aimed to enhance the revenue of the provincial exchequer.

It has also started a prize scheme to convince the masses for demanding Sales Tax invoices from restaurants.

It is also learnt that the PRA will continue its crackdown on those restaurants which are not submitting Sales Tax according to their income. –M Imran Mehar

T

Mills (Muzaffargarh) are still operational and carrying out production activities. They submitted that media is also reporting the same.

Before proceeding further, we want to be fully satisSied that the order of the august Supreme Court of Pakistan is being implemented in letter and spirit.In order to verify the ground position, we depute the following learned District & Sessions Judges to immediately verify whether the mentioned mills are in operation. Learned District & Session Judges shall keep in mind that the restraining order issued by the august Supreme Court of Pakistan was w.e.f. In case the learned District & Session Judges Sind that the mills are still in operation, they will immediately seal the production process of the mills. The DPOs/RPOs concerned are directed to accompany the learned District & Sessions Judges and render full support in carrying out the veriSication/inspection directed by this court.

LAHORE

M IMrAN MehAr

T

he Anti-Narcotics Force (ANF) Lahore has arrested Naseem Masih, a resident of Sargodha from Allama Iqbal International Airport, Lahore while he was boarding a plane for Saudi Arabia and seized 2.25 kilograms of heroin from him.

Sources told Customs Today that the ANF team also seized 720 grams of heroin from a parcel containing baby garments being sent to Canada.

It is also necessary to mention here that ANF team intercepted a car near Thokar Niaz Baig and seized 25.2 kilograms of hashish during road checking. Two accused, James Johnson and David, residents of Peshawar, were arrested. The ANF authorities after

Newly passed-out 112 sepoys take oath of loyalty to pakistan customs

A

s many as 112 newly recruited sepoys have joined their respective stations throughout Punjab, with a resolve to serve the state in the best possible manner.

It was a signiSicant event in the history of Pakistan Customs when almost 112 newly recruited sepoys from all the directorates and collectorates of the central region passed out from the two-month specialised academic training programme for customs sepoys at Lahore. The training was arranged by the Directorate

General of Training and Research (Customs) Lahore in collaboration with the Civil Defence Training School. It was exclusively designed for the customs sepoys by the DGTR (Customs) Karachi and was duly approved by the Board. The sepoys were taught customs bylaws, rules and procedures. In addition to other relevant modules, they were also trained for disaster management, bomb disposal and other safety and security techniques by the Civil Defence authorities. –M Hayat

registering a case of narcotics smuggling against the accused persons started further investigations. Meanwhile, The Airport Security Force (ASF) seized a drug smuggler who was trying to smuggle 2.5 kg heroin into Saudi Arabia.

The man was held at Lahore’s Al-

T

lama Iqbal International Airport.

The accused was identified as Naeem Maseeh.

The Airport Security Force handed over the accused with the recovered material to the AntiNarcotics Force (ANF). Further investigation is underway.

court imposes fine on deported persons

he Special Federal Court of Customs Taxation and AntiSmuggling has imposed a penalty of Rs20000 each to 14 Pakistani citizens.

According to details available to Customs Today, about 14 persons were produced before the Customs Court of Chaudhary Aaqil Hussain.

All these persons were deported from Greece when they were booked by the authorities due to over stay and keeping forge and fake documents..

The customs judge announced the verdict on the case and set them free by paying Rs20000 each. All the

persons went to Greece illegally for getting employment there.

Meanwhile, The Customs Court on Saturday adjourned hearing of 16 cases related to customs matters.

During the hearing of most of the cases, the counsels for the accused requested the court to postpone the hearing of their respective cases for preparation of arguments on which the court adjourned the hearings of these cases for different dates. According to the cause list, three out of 16 cases were fixed for formal hearing of accused namely Shahzad, Abdullah and Tariq Fatmi and others. –M Imran Mehar

customs Appellate tribunal hears 9 cases

T

LAHORE

SAJID NAwAZ

www.customsbulletin.com

he Customs Appellate Tribunal Bench-II, comprising Judicial Member Omer Arshad Hakeem and Technical Member Imran Tariq, heard 9 important cases on Thursday and adjourned all of them until the next hearing.

Customs Appellate Tribunal heard cases including Muhammad Alam versus customs Multan, Raaz Muhammad versus directorate Multan Unit D G Khan, Alhamra Fabric versus directorate of Intelligence and Investigation Faisalabad, Muhammad Umer versus Directorate of Intelligence and Investigation Multan. On Thursday, Customs Appellate Tribunal heard cases of

Ramzan Aslam versus customs Faisalabad, Muhammad Sadiq versus customs Lahore, Zahid Je Textile versus customs Faisalabad, customs Lahore versus Chick Textile.

Furthermore, the tribunal heard the cases of Faiz Hussain versus Directorate of Intelligence and Investigation Faisalabad, Crescent Textile versus customs Faisalabad and Khawaja Mehmood ver-

sus directorate of Intelligence and Investigation Faisalabad.

In all the cases, counsels for appellants and recipients appeared before the court and submitted arguments. After hearing the arguments from all the parties, the tribunal member reserved verdict in two cases and all other cases’ hearings were adjourned for next dates.

15

www.customsbulletin.com

Jeffersonville port hits three-year high JEFFERSONVILLE: The Port of Indiana-Jeffersonville handled more than 2.2 million tons of cargo in 2016, down from 2.8 million tons the previous year. Despite the drop, the Ports of Indiana says the annual shipping total was 17 percent higher than the previous five-year average. The 2016 tonnage completed the highest three-year total in the port’s history and marks the third consecutive year the port exceeded two million tons of cargo. The Ports of Indiana says major cargoes at the Jeffersonville port included steel, rain and fertilizer. “The continued strength of the automotive sector along with steady improvement in building construction fueled our solid results in 2016,” said Port Director Scott Stewart.

port officials tout tonnage figures he Port of Indiana-Burns Harbor handled close to 2.6 million tons of cargo in 2016, marking its third highest tonnage in 10 years and completing the best three-year total in its history, port officials said.

More than 8.6 million tons have been handled at the Burns Harbor port since 2014, officials said.”Fourth quarter shipments were especially strong for us and included two export ships of Indiana grain, raw materials for the steel industry as well as several large-dimensional cargoes,” Port director Rick Heimann said. Major cargoes included steel, limestone, carbon products, grain and iron ore. Grain shipments were up 57 percent from 2015 while coal was up 11 percent. Mineral and oil shipments increased 19 percent.

Port officials were reluctant to judge how President Donald Trump’s pro-

T

posed trade policies, including tariffs on imported goods, would affect the port. Rich Allen, its director of communications, said the consensus was, “It’s too early in the Trump Administration to tell. “We’re taking a wait and see stance,” Allen said.

Other highlights of 2016 at the port included an $8 million expansion of Ratner Steel, a significant spike in large cargoes and nearly $2.5 million in port improvements.”Watching the Ratner Steel expansion take shape is especially encouraging because it further demonstrates that by using the port’s strategic location and multimodal capabilities, a company can gain a competitive advantage and grow its business,” Heimann said. Minnesota-based Ratner Steel is adding 100,000 square feet to load and unload steel shipments. –CB Report

Ports & Shipping

port of Seattle denies wrongdoing in bonus payouts

WASHINGTON

cuStoMS BuLLetIN report www.customsbulletin.com

I

n a special meeting the Port of Seattle’s commission denied that there was anything wrong with a seven percent bonus paid out to the port’s employees in 2015. A state auditor

believes that the payments may have violated the state constitution as they were not directly tied to performance. The $4.7 million “one-time retention bonus” was approved in December 2015.

Commission president Tom Albro said Tuesday that while it might have been done differently, it was clear at the time of the payout that “what we were doing was beyond question.”

Port CEO Ted Fick resigned last week after a two-week period of administrative leave, and while his resignation coincided closely with the publication of the audit results, the commission says that the two events are not related.

642 port employees received the payout, including Fick, and port records suggest that he proposed the bonus but did not immediately inform the commission that he would receive a payment himself. In a written statement submitted to the Seattle Times, Fick denied that the bonus was his idea, and said that he had told the commissioners about his own payment when they inquired.

The bonuses are not Fick’s first controversy during his two-year tenure at the port. He was pulled over last year for driving 79 mph in a 50 mph zone and tested over the limit for driving under the influence. He has been charged, but he told the port commission that he hopes to avoid a trial. In his resignation letter, Fick said that he has realized that his talents are “better suited to the private sector,” where he plans to return.

Tuesday February 28, 2017

tema port project creates 5,000 jobs onstruction work has begun on the new $1.5bn container terminal at the Port of Tema in Ghana at the start of January. The terminal will directly create 5,000 jobs. The terminal will be operated by Meridian Port Services (MPS), which is mainly owned by two giants of the African port sector, Bolloré Transport & Logistics and APM Terminals, plus Ghana Ports and Harbours Authority. It is scheduled for completion by the end of 2019. The work will mainly be financed by the World Bank Group subsidiary International Finance Corporation (IFC), which has provided $667m, and MPS shareholders, who have fronted $333m. The IFC will contribute $195m out of its own reserves and has borrowed the remaining $472m from Bank of China, Dutch development finance company FMO, South Africa’s Standard Bank and Industrial and Commercial Bank of China. The new Ghanaian government of President Nana Akufo-Addo has promised to proceed with the project, which was sanctioned by his predecessor John Dramani Mahama. –CB Report

C

port’s Dixon on target for AFL pre-season P

WASHINGTON

cuStoMS BuLLetIN report www.customsbulletin.com

ort Adelaide forward Charlie Dixon says his AFL pre-season is on target despite missing a chunk of training because of ankle surgery. Dixon had surgery on his left ankle last November after being troubled throughout his career. Ankle ailments hampered the key forward at Gold Coast, before his first season at Port last year was ended early by further problems. “I have had loose ankles and that has been a problem,” Dixon said on Monday. “It was just something that wasn’t getting better (so) it was best to tighten it up and strengthen it up. “They (surgeons) weren’t 100 per cent sure when they went in there, they did a little bit of a clean out. They ended up drilling through it and tightening it up with a couple cords. “I

wasn’t too fussed. I was just worried about when I could be back.”

Dixon expects to play a half of Port’s intra-club trial match this Friday ahead of their first pre-season game on February 23. The 26year-old said he was aiming to improve on his output last year – 30 goals in 18 games. “I don’t think it was my best season,” Dixon said, adding he was initially surprised at the fan and media attention in Adelaide, after spending five years with Gold Coast. “Being in Adelaide, it’s pretty ruthless,” he said. “You guys (media) love to get on and off us, so do the rest of the supporters. “It’s very fierce competition. For myself, it was definitely an eye opener. “I’m a little bit more comfortable with where I am at and looking forward to this season.” pain’s minister of public works has announced sweeping plans for liberalization of hiring at the na-

tion’s ports, which could lead to the loss of 6,500 unionized jobs over the next three years. On Thursday, the nation’s longshore unions protested the move and threatened a series of labor actions if the government does not withdraw the plan.

Under current Spanish rules, port operators have to hire stevedores from one local stafSing company, known as a SAGEP (Sociedad Anónima de Gestión de Estibadores Portuarios). In 2014, the European Court of Justice ruled that this arrangement was a violation of EU laws on freedom of establishment, and ordered Spain to open up the system to competition. The Spanish government says that the nation pays a penalty exceeding $25,000 for every day that it does not comply with the court order – and the Sines are set to quadruple. Faced with the elimination of the traditional sys-

tem, Spain’s longshore unions have responded with outrage. “The Spanish Government threatens the growth of the Spanish economy and seeks to make the dockworker profession disappear from national ports,” said Jordi Aragunde, general coordinator of the International Dockworkers Council (IDC). “The Ministry of Public Works intends to act on a decree that prevents the country’s economic recovery.” The International Transport Federation also voiced strong opposition to the decree. “The Spanish government is tearing up the rule book with a callous disregard for Spanish jobs, Spanish prestige and international conventions. Their plans go beyond belief,” said ITF president Paddy Crumlin. Crumlin pointed out that the Spanish dockers had just reached a new labor agreement with the port employers’ association in mid-January.

16

www.customsbulletin.com

Abbottabad RTO seizes non-duty paid cigarettes worth Rs 6m ABBOTTABAD: The Federal Board of Revenue’s Regional Tax Office (RTO) has seized a huge cache of non-duty paid and smuggled cigarettes worth Rs 4 million to Rs 6 million from Hazara Mall and Mansehra Mall in Mansehra city.

The raids to seize these cigarettes were conducted on the tipoff received by RTO’s Investigation & Prosecution Cell Incharge Fazal Malik.

Abbottabad Chief Commissioner Mahmood Aslam confirmed the raids and seizure of the huge cache of smuggled and non-duty paid cigarettes in different raids.

Tuesday, February 28, 2017

CUSTOMS BULLETIN

pakistan, Netherlands resume talks on avoidance of double taxation pact ISLAMABAD cuStoMS BuLLetIN report www.customsbulletin.com

P

akistan and Netherlands have started negotiations on a new avoidance of double taxation agreement between the two countries.

The ambassador of the Kingdom of Netherlands to Pakistan, Jeannette Seppen, visited FBR Headquarters to mark the commencement of the negotiations on a new Avoidance of Double Taxation Agreement between Pakistan and Netherlands.

FBR Chairman Dr Muhammad Irshad welcomed the ambassador and the visiting delegation from Netherlands. The FBR chairman in his opening remarks highlighted the importance of Double Taxation Agreements to resolve double taxation issues which might arise in levying personal and corporate income tax on cross-border activities.

Dr Irshad said that such agreements encourage cross border trade and investment by assuring certainty of tax treatment and removal of double taxation of the same income in the two contracting states.

He said that many changes have occurred in the recent past, both in

the global and domestic tax and economic environments across the world. The business patterns have changed which now require speciSic tax treatments.

The chairman further said that FBR would like to foster its rela-

tionship with the Ministry of Finance of Netherlands in various OECD initiatives such as BEPS Package and Automatic Exchange of Information. He said that the two countries can move forward in the areas of mutual assistance in tax

matters and all the three types of the exchanges of information.

Rematullah Khan Wazir, Member (Inland Revenue Policy) said Pakistan and the Netherlands have Avoidance of Double Agreement in place since1982 which has been

functioning very well. In 2014, the Netherlands proposed certain amendments in the existing treaty.

Pakistan welcomed the proposal of renegotiation and has also proposed certain provisions to be incorporated in the existing treaty.

FIA to contact Interpol for arrest of offshore company’s owners KARACHI

M BILAL

www.customsbulletin.com

C

ustoms Court Judge Syed Faiz Rasool Rashdi has directed the Federal Investigation Agency (FIA) to issue read warrants against the absconding accused persons namely Bashir Dawood and Mariyam Dawood for their arrest from Canada through Interpol.

The suspects were booked in a

case of concealment of income and furnishing inaccurate particulars of their income as well as money laundering over offshore company.

During the hearing, investigation ofSicer Muhammad Arif appeared before the court and submitted that the both suspects have not been arrested yet, therefore, he sought time for compliance of the court’s order and arrest of the both accused persons. After the hearing, the court directed FIA to initiate proceeding for issuing read warrants of the said absconding accused persons. It needs to be

pertained here that the court had issued several times their bailable and non-bail-able warrants in the past. Earlier, investigation ofSicer had Siled petition before the court for attachment of property and bank accounts under section 8 of the Anti-Money Laundering Act, 2010 in order to protect the public exchequer and also informed the court that above named accused persons are absconders, therefore, court had allowed to IO for attachment of their bank accounts as case property for 30 days.

According to the prosecution, case no 01/2016 was registered

against them alleging that the accused persons owned an offshore company and were involved concealing the income of approximately Rs 9,870 million. Besides they evaded income tax of Rs 2,469 million and amount of income tax recoverable (up to tax year 2014) was Rs 2,467 million along with default surcharge and penalty to be determined at the time of payment. Case was registered under section 111 (1) (d) (1) of the Income Tax Ordinance 2001, liable to be prosecuted under section 192 a ibid read with section 2 and 8 (2) of the AMP Act 2010.

Published by M S Raza Off# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by Dhoom Printing Building No RY/A, 11/6,11/7, Mashoor Mahal,off I.I. Chundrigar Road, Karachi

Meanwhile, Customs Taxation and Anti-Smuggling Court Judge Syed Faiz Rasool Rashdi directed the jail superintendent Central Jail, Karachi to release the accused person namely Shoaib Iqbal son of Muhammad Iqbal on bail. The accused person was booked in a mis-declaration case.

During the hearing, counsel for the accused appeared before the court and submitted surety amount of Rs 500,000 which was accepted by the court. After the furnishing required surety, court directed the jail superintendent Central Jail, Karach.