Wednesday, 7 February 2018

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LAHORE

M HAYAT

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he Customs Central Region has posted a growth of 43 percent in collection of customs duty during the Sirst seven months of the Sinancial year 2017-18 by collecting over Rs 33,877 million.

As per details, the

Customs Appraisement Lahore collected Rs 19,220 million customs duty while the Customs Preventive Lahore collected Rs 6,647 million during the period under review.

On the other hand, the Collectorate of Multan collected Rs 5,759 million customs duty during Sirst seven months of Sinancial year 2017-18.

In the same way, the Collectorate of Customs Faisalabad collected Rs

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2,250 million customs duty during the period under review. According to the documents overall the Central Region collected customs duty from all the four Collectrates worth Rs 33,877 million posting a growth of 43 percent during the Sirst seven months of current .

Sources said that the Collectorate of the Central Region have started putting all out efforts to achieve the Sinancial year targets.

Auction Cell Margallah generates Rs35.500m as CD during 30 days

DG Surriya to revise customs values of fruit jam on March 26

FTO hears appeal filed by M/s Haider Traders against RTO-II

Railways adds 1405 modern wagons for coal loading

Faisalabad Customs forms teams for recovery of arrears from defaulters Cos

Auction Cell Margallah Dry Port Islamabad and I&I earned Rs35.500m | See pAge 02 |

DG Valuation has decided to revise the VR No: 898/2016 on March 26 | See pAge 03 |

Advisor of FTO Mian Munawar has heard a case filed by proprietors of M/s Haider | See pAge 04 |

PR has added 1405 modern wagons for coal loading and unloading for Qadirabad | See pAge 11 |

Faisalabad Customs has formed special teams for the recovery of arrears | See pAge 16 |

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FST orders submission of FBR cases contesting employees’ relevant record Wednesday, February 7, 2018

Islamabad

ISLAMABAD: The Federal Service Tribunal issued fresh directives to submit the relevant record of the cases being contested by the employees of the FBR at the tribunal. FST Chairman Justice (R) Sayed Zahid Hussain and Dr Nazir Saeed heard three cases filed by M Sulaman Javed, Muhammad Nawaz, Muhammad Shakeel Akhtar and others. Muhammad Sulaman Javed had prayed to the tribunal to ensure implementation on its already given decision. Muhammad Nawaz had challenged the dismissal from services, and Muhammad Shakeel Akhtar challenged the removal from services.

Auction cell Margallah generates rs35.500 million as customs Duty

ISLAMABAD

ISLAMABAD

nAeeM uLLAH TAriQ

TAriQ DerYA

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he Customs Appellate Tribunal directed the parties to prepare for final arguments while hearing customs references involving M/s Klaguardia Logistics and M/s Trade Master and Model Collectroate of Customs Islamabad. The Customs Appellate Tribunal’s bench, comprising of Members Tribunal Syed Muhammad Anwar and Muhammad Nasir Khan, heard the matters submitted by M/s Klaguardia Logistics and M/s Trade Master against the Model Customs Collectorate Islamabad. The Customs Appellate Tribunal would hear the recently filed customs reference filed by M/s Kohinoor Trader. Counsels from M/s Five Star Trading had appeared before the bench and demanded time from the bench for finalizing preparations for the case. Customs Appellate Tribunal’s Member Technical Ziaddin Wazir had heard the cases of Raja Nabeel, Waqas Enterprises, Arshad Khan and Musawir Shah who filed the cases last week. Raja Nabeel filed the cases against Directorate of Intelligence and Investigation Islamabad. Other three appellants filed their cases against the Model Customs Collectorate Islamabad.

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he Customs Auction Cell Margallah Dry Port Islamabad and Directorate I&I earned Rs35.500million of Customs Duty during Sirst 30 days of January FY17-18. According to details explained by ofSicial sources of the Model Customs Collectorate (MCC) that, during above said period, the Margalla Dry Port generated Rs32.388million as Customs Duty (CD). The sources added that, during said period, the Directorate of Intelligence and Investigation (I&I) Islamabad collected Rs3.119million under the same head.

The Directorate of I&I Islamabad, including Dry Port Islamabad Auction Cell, fetched Rs32.216million of CD while the I&I Islamabad did Rs0.984million by holding the auction of conSiscated goods and vehicles. The Auction Cell of Islamabad got Rs109.00million of CD during 2nd-Q of FY2017-18 by auctioning off the goods seized by the Directorate of I&I and Islamabad Customs. The Auction Cell collected Rs57.344million as CD during the month of December FY 2017-18 whereas the Auction Cell did Rs5.478million under the same head during the month of November FY17-18 as well as it generated Rs46.173million through auction of various kinds of items during the

Tribunal orders parties concerned to prepare for final arguments

month of October FY17-18.

During the month of December FY17-18, the Directorate of I&I Islamabad received Rs18.657million of revenue by seizing goods under the head of CD while Islamabad Customs earned Rs38.687million of revenue during said period un-

der the same head.

During the month of November FY17-18, I&I got Rs0.300million as CD by auctioning off the confiscated goods while the Auction Cell Islamabad earned Rs5.178million under the same head during the same period by auctioning the

seized items. Sources added that, during the month of October FY1718, the I&I obtained Rs45.697million by publically selling off impounded items while the Islamabad Customs did Rs0.476million of revenue by confiscating goods under the head of CD.

Senate body shows displeasure over TDAp performance

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ISLAMABAD

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he Senate Standing Committee on Commerce and Textile Industry has recommended shifting of TDAP head ofSice to Islamabad and showed its displeasure that TDAP has not called its board meeting in during the last three years.

A meeting of the Committee on Commerce and Textile Industry was held under the chairmanship of Sen-

ator Shibli Faraz in which among other senators, Saleem Mandviwala, Rubina Khalid, Usman Khan Kakkar, Naseema Ehsan, Rahila Maghsi and Haji Saif ullah Bangash also participated. The participants were briefed on the pending recommendations of the committee presented during 2015-17 by the different departments of Ministry of Commerce and Textile industries. Director General Trade Development Authority of Pakistan (TDAP) told that the committee had given 14 recommenda-

tions from which seven have been implemented and four are under process. He further said that “we are restructuring its HR and Research departments.” The committee showed its displeasure that TDAP has not called its Board meeting in past 3 years. The committee was informed that the new board has so far not been constituted and meeting of the board would be called as soon as the new board is constituted in the near future. Directorate General of Trade Organization

(DGTO) briefed the committee that amendment in the rules relating to membership of trade organizations would be included in its consolidated proposals for Trade Organizations Act, 2013 and rules.

The committee appreciated the overall working of Pakistan Horticulture Development and Export Company (PHDEC) and its shifting of its headofSice from Lahore to Islamabad. Committee emphasized on its marketing and public awareness programs and directed to make it

more convenient for the general public. Three recommendations were given to National Tariff Commission (NTC) and was told the committee that its working has increased as compare to last years.

Chairman of the committee asked about the mechanism of pension of their retired employees. It was informed that there was no such mechanism so law division was consulted and necessary steps have been taken in this regard as the matter is sub-judice.

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SHC seeks comments on petition challenging extra duty on hot rolled coils KARACHI: The Sindh High Court (SHC) has directed customs officials to file their respective para wise comments on a constitutional petition filed by M/s Master Pipe Industries against fixation of extra duty on hot rolled coils, cold rolled and galvanized coils of secondary quality imported from European countries and Taiwan. A two-member bench was hearing the petition. Earlier, counsel for the petitioner appeared before the court and submitted that the petitioner is engaged in the lawful business of import and fulfills all the responsibilities according with law. He regularly imports hot rolled coils, cold rolled and galvanized coils of secondary quality mostly from European countries and Taiwan.

pcA detects tax evasion of rs 16.47m by M/s M Mobeen & Sons

Wednesday February 7, 2018

Karachi

Dg Surriya to revise customs values of fruit jam on March 26

KARACHI

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he Directorate of Customs Post Clearance Audit (PCA) has detected duty and tax evasion of Rs 16.47 million allegedly by M/s M Mobeen and Sons, it is learnt. Official sources told Customs Today that M/s M Mobeen and Sons imported a consignment of different kinds of computer and computer accessories under the PCT Heading 2507.4589 and got it cleared from the Port Qasim Karachi vide GDs on November 22, 2017 by paying customs duty at 6 percent after claiming a benefit of SRO 558/2007. The consignment was cleared through Examiner Ghulam Rasool.

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excise challans 2780 vehicles of tax defaulters KARACHI

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xcise and Taxation Department under grand operation issued challan slips to 2780 token tax defaulters’ vehicles during January.

Excise and Taxation Department spokesman informed that 2780 unregistered and token tax defaulters’ vehicles were issued challan slips in Rawalpindi district. The teams constituted for Rawalpindi district on the directive of Director Excise, Tanveer Abbas Gondal under the supervision of Excise and Taxation Officer (ETO) Motor Vehicles, Sohail Shahzad checked vehicles’ documents on different roads. The teams comprising inspectors are regularly conducting raids and the vehicles of the rules violators are being challaned and impounded while the department recovered over Rs4.7 million arrears in January.

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irectorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 898/2016 on March 26, 2018, it is learnt. According to the details, Director General Surriya Butt has said that the department was reviewing suggestions from various importers to set new prices of fruit jam HS Code 1000, 9100 and 2007.9900. She said that some valuations, which were issued in 2016, were being reviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in the international market. Sources told that a petition was submitted by the importers to Customs Valuation in which change in prices fruit jam HS Code 1000, 9100 and 2007.9900 was requested. Sources told that Valuation Ruling No: 898/2016 was issued on August 4, 2016. A meeting was held with the stakeholders on 23 January, 2018.

Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.

Meanwhile, Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to

revise the Valuation Ruling No: 710/2015 on March 22, 2018, it is learnt. Director General Surriya Butt has said that the department was reviewing suggestions from importers to set new prices of unSinished carpets. She said that some valuations, which were issued in 2015 and 2016, were being reviewed from the beginning. Moreover, the valuations will be set in view of rising prices in the international markets. Sources told Customs Today that a petition was

Sources told that a petition was submitted by the importers to customs Valuation in which change in prices fruit jam HS code 1000, 9100 and 2007.9900 was requested

customs export recovers rs 10.26 million

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KARACHI

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he Customs Export recovered evaded taxes and duties amounting to Rs 10.26 million from defaulter companies which had been earlier issued with notices in this regard. Sources told Customs Today that during scrutiny of the import data, it was revealed that M/s Fareed Pipes availed undue benefits and con-

cessions by importing different consignments and also misusing the SRO 562 The company was found involved in a tax evasion of Rs 3.68 million. After detecting tax evasion, the Customs Export issued them with a final notice to deposit the evaded amount in the official account within seven days.

After receiving the notice, the management of the M/s Fareed Pipes deposited the evaded amount in the official account of

the Customs Export. On the other hand, the management of the M/s Shanila Garments also cleared Rs 4 million of taxes and duties. Sources told Customs Today that M/s Shanila Garments also availed undue benefits and concessions and avoided paying taxes according to the Customs bylaws. The Customs Export authorities served a final notice on them. After receiving the notice, the management of the M/ Shanila Garments paid the evaded amount of taxes.

submitted by the importers to Customs Valuation in which change in prices of unSinished carpets was requested. Sources said that the Valuation Ruling No: 710/2015 was issued on January 23, 2015. A meeting was held with the stakeholders on 24 January. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item.

pak rupee gains value in open market he Pakistani rupee gained value against dollar both in open market and interbank.

As per the local money market, the dollar shed 10 paisas in open market for buying at 111.80 and for selling at 112.10. The greenback remained firm in interbank for buying at 110.30 and for selling at 110.50.

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Customs Tribunal remands back impounded vehicle case Wednesday February 7, 2018

Lahore

LAHORE: The Customs Appellate Tribunal has remanded back an appeal filed by one Tanvir Hussain, a resident of Chah Miran, versus Collector Customs Preventive Lahore.

Imran Traiq, Member Technical Bench-II, heard the case in details and passed the order with remarks that duties and taxes involved in this case is Rs500000 and falls within the domain of Assistant Colellector Customs who should adjudicate the case and pass the fresh speaking order.

Superintendent Customs Anti-Smuggling, Model Customs Collectorate (Preventive), intercepted a Mazda truck at Badami Bagh Lahore. On demand, the driver failed to produce any legal documents.

customs court gets probe fTo hears appeal filed by M/s challan of accused in Haider Traders against rTo-ii money laundering case LAHORE

M iMrAn MeHAr

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he Special Federal Court of Customs Taxation and Anti-Smuggling has received an investigation challan from the Customs Investigation and Prosecution against the money laundering committed by an accused. The court approved a 14-day judicial remand of the accused. Accused Faisal was apprehended by the Customs Preventive Authorities at the Allama Iqbal International Airport Lahore. The customs authorities, during a search of his luggage, found a large quantity of currencies. Accused Faisal was trying to smuggle the currencies of Rs2million. The authorities found

court approves judicial remand of suspect in mobile smuggling case he Special Federal Court of Customs Taxation and Anti- Smuggling has approved a 14-day judicial remand of the accused, who was arrested in smuggling of mobile phones accessories and some other items. According to details, Muhammad Safdar Ashraf was arrested by the customs authorities from Multan international airport. The Customs airport conducted an operation on intelligence information and arrested Ashraf. The Customs team recovered 300 mobile phones and accessories from his possession worth more than Rs 1.5 million. The accused has caused a huge loss to the national kitty in the wake of duty and taxes. Customs I&P team produced him before the customs court for getting his physical remand to investigate more on the issue which was approved by the court. –CB Report

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dollars, Euros, pounds and Pakistani currency from his luggage.

The customs investigation team had presented him before the customs court for getting his physical remand to investigate more on the issue that was granted by the court. After the completion of the remand, customs team presented him again before the court.

The court had ordered the investigation team to present his investigation challan that was submitted so the court may announce the decision in the next hearing. The customs had registered a case against the accused and launched an investigation as well after confiscating the currencies that he was trying to smuggle. The customs authorities have registered a case against him under the Pakistan Customs Act-1969.

LAHORE

SAJiD nAwAZ

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dvisor of Federal Tax Ombudsman (FTO) Mian Munawar Ghafoor has heard a case Siled by proprietors of M/s Haider Traders against the Regional

M/s fazal chemical hears appeal filed by M/s fazal chemicals

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he Federal Tax Ombudsman (FTO) has heard an appeal Siled by M/s Fazal Chemical against Corporate Regional Tax OfSice (CRTO) and put off the hearing until the next date.

FTO Adviser Mian Munawar Ghafoor heard the case in which counsel for the appellant argued that the CRTO has failed to release the tax refunds for the last two years.

He said that the CRTO had been collecting excessive taxes from M/s Fazal Chemical for the last two years.

He approached the commissioner concerned many a time for release of refunds but the CRTO ofSicials did not entertain the requests even after the passage of a reasonable time. At the end, the company decided to approach the FTO seeking his intervention in this case.

The counsel appealed the FTO advisor to direct the CRTO to clear the refund claims. The counsel further said that the CRTO should refund the additional collection of taxes by the end of Sinancial year. –CB Report

Tax OfSice (RTO-II) Lahore and adjourned it until the next date of hearing. FTO will hear same case on next reserved date.

During the hearing of the case, the counsel for the appellant argued that the RTO had failed to release the sales tax refund to the appellant since last two years.

He said the RTO-II has been collected excessive taxes from the com-

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pany during the last two years. The petitioner approached the ofSicials concerned several times for the release of refunds, but the RTO ofSicials failed to clear refunds after the passage of a reasonable time.

Finally, the appellant decided to approach the FTO seeking intervention in this case. The counsel appealed the FTO advisor to direct the RTO-II to clear the refund claims. The counsel further said that delay in release of refunds put the burden on taxpayers, adding that the RTO-II should make audit of the case and release the extra amount collected by it from the taxpayer. On the other hand, counsel for RTO-II argued that the appellant has not submitted all record to the ofSice for claiming refunds. If appellant provides the accurate record, the RTO-II will release refunds after a proper assessment, he added. After hearing the arguments from both sides, FTO advisor Mian Munawar Ghafoor postponed the case of proprietors Haider Traders.

customs Tribunal reserves verdict of few cases he Customs Appellate Tribunal heard eight cases and adjourned all the cases to different dates and reserved the verdict in few cases. According to the details, a division bench-II comprising Omer Arshed Hakeem, Member Judicial and Imran Tariq Member Technical heard eight cases, including Amjed Khan versus Customs Faisalabad, Hijvery Traders versus Customs Lahore, Dad Muhammad versus Directorate of Intelligence and Investigation Multan.

Furthermore, same bench heard cases of Customs Lahore versus Faisal Ijaz, Jamshaid Ali versus Customs La-

hore, Khalid Mehmood versus Customs Faisalabad, Ishitiq Ahmed versus Directorate of Intelligence and Investigation Multan, Directorate of Intelligence and Investigation Faisalabad versus Fakhar Abbas. In the cases which are adjourned the members of Customs Appellate Tribunal ordered the appellant to appear on the next dates of hearing and present arguments in their respective parties.

In the next two days of week members will not hear any case but the other staff of Customs Appellant Tribunal will attend the ofSice and perform duties. –CB Report

customs urged to effectively control smuggling of packed food items

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LAHORE

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he Pakistan FMCG Importers Association (PFIA), felicitating the Customs Department on the occasion of the International Customs Day, has emphasized the department to play an effective role in curb the smuggling,

especially of packaged food items.

In a joint statement issued on Saturday, the PFIA Patron-in-Chief Naseem Chawla, Chairman Anjum Nisar, Senior Vice-Chairman Nafees-ur-Rehman Barry and Ziaul-Haq said the customs department needs to devise a strategy for law abiding importers and departments like Punjab Food Authority (PFA) on board to check the smug-

gled food items besides discouraging the marketing of counterfeit, smuggled and expired packaged food items.

They said the import of such items discourages those importers who believe in paying due taxes, and smuggling throws them out of the competition in the market.

They said the counterfeit or expired items cause harm to the

health of the consumers also.

They said the coordinated efforts would ensure that people get duty-paid and quality food items.

‘We can bring down the budget being spent on health sector to almost half in two years if we can ensure provision of quality food items imported through formal channel, maintained the PFIA leadership.

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he Collectorate of Customs Preventive has collected Rs 6,647 million all duty and taxes during the Sirst seven months of the current Sinancial year 2017-18.

As per details, the Collectorate of Customs Preventive collected Rs 6,647 million under the head of customs duty against the proposed target of Rs 5,495 million set by the Federal Board of Revenue.

Similarly, the Collectorate of Preventive collected Rs 1,1152 million on account of sales taxes during the period under review against the assigned target of Rs 8,415 million.

On the other hand the Collectorate of Preventive collected Rs 5,690 million on account of withholding tax against the assigned target of Rs 4,840 million for the Sirst seven months.

Likewise the Collectoarte collected Rs 13.64 million on account of federal excise duty during the said period against Rs 179.50 million proposed target for the period. Overall the Collectoarte collected Rs 23,504 million duty and taxes during period under review.

Sources told that Collector Customs Preventive Faiz Ahmad adopted a comprehensive strategy to recover outstanding

Wednesday, February 7, 2018

dues from defaulter. He directed to use all available legal resources to recover outstanding tax amount from defaulters. Collector is optimistic that Collectorate will achieve revenue collection target of current Fiscal Year 2017-18. Meanwhile, Collectorate of Customs Appraisement has collected Rs 4,9611 million all duty and taxes during seven months of Sinancial year 2017-18, posting a growth of 35 percent.

As per details, the Collectorate of Customs Appraisement collected Rs 19,220 million un-

tive reven p f o e rat ion on llecto 2 mill 5 The co 1 1 , 1 during ted rs taxes collec s e l a s nt of review accou under d o i r get of the pe ed tar n g i s s a st the llion again 15 mi rs 8,4

der the head of customs duty during the period under review against the proposed target of Rs 17,106 million. Similarly, the Collectorate collected Rs 2,6226 million on account of sales taxes during the period under review against the target of Rs 21,690 million.

On the other hand the Collectorate collected Rs4126million on account of withholding tax (WHT) against the assigned target of Rs 4,049 million for the first seven months of current fiscal year 2017-18. Likewise, the Collectoarte collected Rs38 million on account of federal excise duty (FED) during the said period against Rs 50 million proposed target for the period. Overall the Collectoarte of Customs Appraisement collected Rs 4,9611 million duty and taxes during period under review. It is necessary to mention here that Collector Customs Appraisement Jamil Nasir has directed to use all available legal resources to recover outstanding tax amount from defaulters to the officers and staff all alike. Due to effective policy adopted by Collectorate of Customs Appraisement.

Collector Jamil Nasir is optimistic that his Collectorate will achieve revenue collection target assigned by Federal Board of Revenue for current fiscal year of 2017-18.

Customs Appraisement is already using all available resources to recover outstanding dues from defaulters, the sources concluded as saying.

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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

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weak financial management

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he government’s admission that the country’s external debt bearing capacity has deteriorated shows how much it lacks ability to manage financial and economic affairs. The admission came through a debt policy statement by the Finance Ministry that there was disproportional increase in the country’s external debt than the foreign exchange earnings last year. Experts put increase in the external debt to 120 percent of the foreign exchange earnings by the end of the previous fiscal year. The ratio was 110 percent in fiscal year 2015-16 and the highest after the one was recorded during the final year of the PPP government. The debt policy statement has been submitted to the National Assembly in compliance with Fiscal Responsibility and Debt Limitation (FRDL) Act of 2005 that allows legislators to assess failures and successes of the government in the public debt management. The statement shows that not only the external debt increased in percentage of foreign exchange reserves, the cost of external debt servicing in percentage of foreign exchange earnings has also increased.

According to experts, the government is hiding its failures by amending the law as it has failed to make any improvement in the financial management. The external debt in terms of percentage of foreign exchange reserves has increased to 290 percent due to growing current account deficit. The lack of coordination within the government ministries and departments is another setback facing the nation. When a ministry claims success in certain areas, it puts the responsibility of failure on another government department. It is easy to put the blame on international recession, rise in oil prices or subdued growth in western countries for failures in the country. Unfortunately, the country experienced continued fall in exports despite achieving Generalised System of Preferences status from the European Union.

Only earnings through exports can increase foreign exchange reserves and that is the best option. Industrialists complain that the Finance Ministry still has to devise a mechanism to release tax refund claims which have piled up to Rs 300 billion. Indirect taxes and imposition of regulatory duty on raw material have increased the cost of production, making the exportable items uncompetitive in the international markets.

Money in Swiss banks A

LAHORE

Dr AfTAB AfZAL

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senior ofSicial of the Federal Board of Revenue has informed the Senate Standing Committee on Finance that there is a little hope and scope the government will be able to retrieve the money stashed by corrupt Pakistanis in Swiss banks. The situation is the same after the Supreme Court sent the then prime minister Yousaf Raza Gilani home for refusing to write to the Swiss authorities to reopen money laundering cases against his president and mentor Asif Ali Zardari. However, a revised treaty signed between Pakistan and Switzerland recently on the

Avoidance of Double Taxation also did not cover past money transactions. According to unconSirmed reports, at least $200 billion had been stashed in Switzerland by Pakistanis over the years and the money is enough to rid Pakistan of all its loans and debts. The depositors include corrupt politicians, bureaucrats and maSia chiefs, but it appears the nation is not yet ready to act against corrupts elements. The Supreme Court sent the prime minister home, but could not do anything better to retrieve the national wealth as all the corrupt elements are united against the honest judiciary. In 2014, former Sinance minister Ishaq Dar had also informed par-

liament in writing that the government would make every effort to retrieve the money even if they have to revise treaty with the Swiss government. However, there is no change in the status of money and the situation till now.

The FBR official has now clearly explained that the exchange of information between the two countries could only be limited to the prospective transactions and the corrupt money does not fall in this category. The figure of $200 billion is though not authentic, but money is there without any doubt. However, the government has no will or plans to pursue the case in the International Court of Justice and even it has never won a

case in any international forum.

Instead of retrieving the money, the government has now shifted its attention to floating another amnesty scheme to attract foreign investors, including expatriate Pakistanis having black or white money in their bank deposits. Until the government reforms and changes basic structure of the tax system, the business of money laundering will continue to flourish. A plethora of indirect taxes is the evidence that the government is unable to impose and implement its writ with regard to direct taxes. The only way to bring back the money is to offer incentives to the potential investors and that is all.

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Customs Islamabad retrieves heroin & ice-heroin from three sandals at BBIA ISLAMABAD: The Customs Authority of the BBIA Islamabad has filed an FIR against an intercepted smuggler for smuggling 1.6kg heroin (white and brown) and ice-heroin.

According to details given by Ali Asad, Assistant Collector, Banazeer Bhutoo International Airport (BBIA) Islamabad, that, during a routine checking at the departure lounge, the customs staff got a suspicious baggage bearing three female sandals. They stopped the baggage bearer along with the luggage and, after getting a permission from high-ups, unfolded the sandals and found 1,400 grams of heroin including 200 grams of ice-heroin.

Assistant Collector told CT that the price of the seized heroin was estimated at Rs15million in the international market.

fBr issues list of probationary officers

Wednesday February 7, 2018

National

court seeks challan against chinese booked in submitting forged documents

KARACHI

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ederal Board of Revenue (FBR) has issued a list of 40 officers of BS-17, who have joined Inland Revenue Service (IRS) as probationary officers. The FBR in a notification issued said having been allocated Inland Revenue Service, the following officers assumed the charge of the post of BS-17 in the federal government as probationary officers of Inland Revenue Service, at Civil Service Academy, Walton, Lahore for Common Training Programme (45th CTP) with effect from September 18, 2017. Ms. Maheen Mehdi Raja Ms. Asimah Majeed Khan Muhammad Hasnain Muhammad Saad Marath Saad Ali Hassan Saad Ali Siddique Sharmeen Qamar Shoaib Ahmad Shrafat Abbas Shah Ms. Wajeeha Khan Ms. Zinnia Hussain Ms. Bela Khan Ms.Hira Fahim Khan Khan Bahadur Watoo Ms.

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KARACHI

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M B rAnA

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he Customs Taxation & AntiSmuggling Court Judge Syed Faiz Rasool Rashdi directed investigation ofSicer to complete investigations and submit Sinal charge sheet against suspects Chinese nationals namely Zhong Zhongmin, the Country Manager and Li Chonhong, Deputy Country Manager of M/s BGP (Pakistan) International to Central Jail Karachi on judicial remand, who were booked in a case of submitting forged documents for clearance of surveying equipment causing Rs513 million loss to the government exchequer.

During the hearing, investigation ofSicer produced the above mentioned suspects before the court and informed that on solid evidences an FIR No. 33/2017 has been registered against a Chinese oil and gas surveying company M/s BGP (Pakistan) International, its clearing agent M/s IMT Co, customs ofSicials and others on the allegation of preparing/ submitting fake/bogus corporate guarantee for clearance of their surveying

equipment worth Rs 677 million. He further informed that Chinese Sirm, its clearing agent M/s IMT Co, Customs ofSicials and others have been named in the FIR registered by the FIA, revealed the statement. Investigation ofSicer stated that prosecution completed investigation from above

mentioned suspects, therefor, prosecution does not further need on suspects, and therefore, court may send them to jail. Earlier, court sent Chinese nationals namely Zhong Zhongmin and Li Chonhong to jail and directed jail authorities to produce them before the court on next date of

hearing. Court also directed investigation ofSicer to complete investigation and submit charge sheet in this case within reasonable period. A Case was registered for violation of under section 156 sub section 14A, 82 read with 32A of Jinnah International Airport Karachi.

iHc seeks record of cases involving customs i&i, ir Madiha Mobin Ms. Motia Shah Muhammad Yousaf Ismail Ms. Nida Shahid Ms. Sugandh Munir Banglani Syeda Iqra Munawar Kazmi Ms. Tehmina Akram Ahmad Akmal Ali Amam Ms. Mahrukh Imtiaz Malik Muhammad Javed Iqbal Masroor Ahmed Muhammad Muaaz Tahir Muhammad Salamat Ullah Muhammad Zulfiqar Ali Rudar Amjad Umair Khalil Abdul Basit Asad Ur Rehman Khan Ms. Farah Aleem Hasham Khalid Malik Muhammad Abdullah Muhammad Haider Ms. Nisa Paracha Ms. Ranaa Firdous Ms. Shazza Shazdey Raheem The FBR said that the above order does not confer upon them any right/claim for inter-seseniority.

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he Islamabad High Court (IHC) directed parties to submit record in cases involving Directorate General of Intelligence and Investigation, and Appellate Tribunal Inland Revenue and dated in ofSice the hearing.

A division bench of the IHC comprising Justice Athar Minallah and Justice Miangul Hassan heard the matter and issued directives. The bench had earlier relisted the cases, including the one Siled by M/s Awan CNG Re-Filling Corporation (Private) Limited. The company had Siled the cases against Model Collectorate of Customs.

The bench had also dated in ofSice hearing on matters Siled by DG Intelligence and Investigation

against Malik Muhammad Ajmal Khan. M/s Comfort Sales Corporation had Siled case against ATIR and customs department.

M/s Comfort Sales Corporation had challenged the act of recovery of said amount by commissioner Inland Revenue of Large Taxpayer’s Unit, Islamabad.

ATIR was also made respondent in the case as the tribunal had sustained departmental decision regarding issuance of show cause notice and demand of recovery of outstanding tax amount in head of federal excise duty. M/s Comfort Sales Corporation had prayed the court that FBR ofSice had issued a recovery notice to the company which did not hold lawful grounds.

The appellant had prayed the court to declare the act as illegal and without any lawful authority and an interim stay may be granted against

recovery proceedings. M/s Comfort Sales Corporation had also mentioned that departmental obligations were not met amid processing the notice of recovery demand while later the adjudication did not address grievances of the appellant.

Meanwhile, Justice Aamer Farooq and Justice Mohsin Akhtar directed parties to submit record of cases involving M/S Khyber Logistics (Private) Limited and M/s Telenor LDI Communication (Private). The bench was hearing M/s Khyber Logistics’s case Siled in 2009 against Customs Appellate Tribunal and Appellate Tribunal Inland Revenue.

M/s Telenor LDI Communication Limited Siled its case in 2017.

M/s Telenor LDI Communication Limited had challenged the act of recovery of the said amount

by Commissioner Inland Revenue of Large Taxpayer’s Unit, Islam-

abad. It was issued the notice under the head of income tax.

M/s Telenor LDI Communication Private Limited had prayed the court that FBR office had issued a recovery notice to the company which did not hold lawful grounds.

The appellant had prayed the court to declare the act as illegal and without any lawful authority and an interim stay may be granted against recovery proceedings. M/s Telenor LDI Communication Private Limited submitted before the court that the impugned order was issued under mala fide intentions and had no legal standing or authority and the court may decide on relief which it deemed appropriate in this regard.

It also stated that due legal course was not followed by the department in issuing the order.

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Customs Tribunal hears three references against Customs I & I Islamabad Wednesday February 7, 2018

National customs Tribunal accepts appeal of tractor-parts’ importer

ISLAMABAD: The Customs Appellate Tribunal on Friday heard three customs references filed against the Model Customs Collectorate and Directorate General of Investigation and Intelligence Islamabad.

Customs Appellate Tribunal’s Single Bench, comprising of Member Syed Muhammad Anwar heard the cases. The bench adjourned hearing after hearing brief arguments by the appellants.

fBr constitutes Alternative Dispute resolution committees in 15 cities

LAHORE

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he Customs Appellate Tribunal accepted an appeal and set aside an Order-in-Original passed by the adjudication authority in an appeal of Ibraheem Majeed versus Collector of Customs (Appraisement) Lahore. As per brief facts of the case, an imported consignment of tractor parts like pistons and pins from Turkey was mis-declared by the importer. During the course of audit, the customs authorities found some illegalities and charged some amount from the importer which was short-paid by him. The appellant did not agree with the department and filed a case with the Customs Appellate Tribunal and challenged the assessment and examination by the department and prayed to the court for fresh speaking order. After hearing the arguments, the Customs Appellate Tribunal has set aside the order of the earlier authority and allowed the appeal by the complainant.

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Deputy collector ittrat Hussain assigns new duties eputy Collector Customs Traffic Allama Iqbal International Airport Ittrat Hussain issued new roaster for employees. According to the roaster employees will perform their duties in three shifts. In shift-A Superintendent Syedzada Alamdar Hussain, Amjad Ali Chaudhary, Nasir Mehmood Tarar, Ghulam Jaffar, Abdul Shakoor, Inspector Tahira Ali, Shafiq Ahmad, Iftikhar Ahmad Hasan, Rafaqat Hussain, Mohammad Rashid, Inspector Asif Sohail, Rizwan Mehmood, Tariq Amir will perform their duties. While Inspector Mazhar Muneer, Mohammad Irfan, Ahmad Sadqeem, Nazar Mohammad, Mohammad Nazir, Abdul Sattar, Bashir Chaudhary, Shabbir Ahmad. –CB Report

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he Federal Board of Revenue (FBR) Tuesday constituted committees for Alternative Dispute Resolution (ADR) consisting of leading tax consultants and chartered accountants for and former senior tax ofSicials to resolve cases in Income Tax, Sales Tax and Federal Excise.

The FBR issued SRO 60(I)/2018 dated January 25, 2018, to notify the panel of the following persons for constitution of committees for ADR. ABBOTTABAD Khurram Ghayas Khan, Advocate, Abbottabad Hajra Zaki , Advocate, Abbottabad BAHAWALPUR Malik Saeed Ejaz.

Retired Judge High Court, Bahawalpur. Iqbal Haider, Chartered

Cost Management Accountant, Bhawalpur. Javed Iqbal Ch. Tax Practitioners, Bahawalpur. Salah ud Din, Representatives Trade Bodies, Bahawalpure. Ch. Waheed Arshad, Reputable Taxpayer, Bahawalpur.

Ch. Muhammad Ali, Reputable Taxpayer, Bahawalpur.

FAISALABAD Engr. Muhammad

Saeed Shaikh, Businesman, Faisalabad. Hamid Masood, FCA, Faisalabad. Salman Zahid Jamil, FCA, Chartered Accountant, Faisalabad.

Mian Muhammad Munawar, Businessman, Faisalabad. Munawwar A. Shaikh, Businessman, Faisalabad. GUJRANWALA Samiullah Naeem, Businessman, Gujran-

wala Azhar Aslam, Businessman, Gujranwala Khawaja Zarar Kaleem, Taxpayer, Gujranwala.

Shafqat Ali, FCA. Gujranwala. Sh. Muhammad Nasim, Taxpayer, Gujranwala. HYDERABAD Lal Muhammad Khan, Retired Judge, Hyderabad Tanweer Arif, Chartered or Cost Accountant, Hyderabald Nazime Hussain Shah, Chartered or Cost Accountant, Hyderabad.

A. S. Jafari, Advocate, Hyderabad. M. Yousuf Moosa, Tax Practitioner, Hyderabad. Arshad Hassan Memon, Tax Practitioner, Hyderabad. Pehlaj Rai, Representative of Trade Bodies, Hyderabad. Haji Muhammad Yaqoob, Representative of Trade Bodies, Hyderabad.

Muhammad Madni, Representative of Trade Bodies, Hyderabad.

Saman Mal, Reputable Taxpayer, Hyderabad.

customs Quetta seizes numerous monitors, laptops on actionable tip-off T

KARACHI

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he Directorate of Customs Intelligence and Investigation Quetta took into possession a large number of computer accessories including 27-inch monitors and imported laptops worth Rs9.50million. Sources told Customs Today that Director Customs Intelligence and Investigation Quetta Muhammad Akram Ch received a tip-off that some smugglers are trying to smuggle said goods from Quetta into different cities. He immediately constituted a raiding team. Team In-Charge, Preventive, Wajid-ur-Rehman and others enhanced the surveillance on the Quetta Highway and started searching vehicles.

During the search operation, the team intercepted a truck bearing registration No: J-2361 which

was going from Quetta to other cities. During the checking, the customs team recovered 200 monitors, 60 laptop systems and other accessories priced at Rs9.50mil-

lion. The customs team seized all the items and arrested three smugglers including a driver who were later identiSied as Shamim Lala, Nazar Niaz and Arfat Banori.

The Directorate of Customs Intelligence and Investigation Quetta registered an FIR against the smugglers and started investigations.

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FTO seeks final arguments in refund case LAHORE: Federal Tax Ombudsman (FTO) Advisor Mian Munawar Ghafoor has heard a case filed by proprietors of M/s Techno Commercial against the Regional Tax Office (RTO-II) Lahore and adjourned it until the next date of hearing.

During the proceedings of the case, the counsel for the appellant argued that the Chief Commissioner Inland Revenue RTO-II had failed to release the sales tax refund to the appellant since the last two years. He said the RTO-II collecting excessive taxes from the company during the last two years. The petitioner approached the officials concerned several times for the release of refunds, but the RTO officials failed to clear refunds after the passage of a reasonable time.

exports record 11.24pc increase during first half of financial year 2017-18 KARACHI

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he Ministry of Commerce is undertaking consistent efforts to explore new markets for Pakistani products.

In this regard, Free Trade Agreement (FTA) negotiations with Turkey and Thailand are at an advanced stages. Similarly, negotiations with Iran on FTA are being initiated, and joint research study to assess the potentials for a preferential arrangement with Korea is also underway. “By dint of these efforts, Pakistani exports have recorded some 11.24% increase in the first half of the current fiscal year as compared to the corresponding period of the previous fiscal year,” sources at Commerce Ministry told Customs Today. According to sources, Pakistani exports were recorded at $9.895 billion in

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the first six months of fiscal year 2016-17 whereas these exports registered 11.24% increase as this tuned to $ 11.007 billion in first half of the current fiscal year (July-December 2017-18). “To promote exports of the value added sectors, sales tax zero-rating regime for five export oriented sectors, i.e., textile, leather, carpets, surgical and sports goods has already been introduced,” the sources added, saying that un order to promote exports to new markets, Trade Development Authority of Pakistan had undertaken various export promotional activities through trade exhibitions and delegations. “Commerce Division is working on diversifying export markets through an outreach strategy for Africa, Commonwealth of Independent States (CIS) and Latin America,” the sources maintained, saying that Branding Pakistan internationally would be initiated with a well-designed campaign.

Wednesday February 7, 2018

National

Hurried privatisation of piA will create problems for next govt: Senate committee

ISLAMABAD

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rime Minister Shahid Khaqan Abbasi has said that the tax amnesty scheme could be launched within next two weeks. In an interview with a local news channel, he said that the amnesty scheme is neither a ploy to amass wealth nor to nab people, but it would be an attempt to formally bring the undeclared assets into the documented economy. Currently, only 1.2 million people file tax returns, he said, adding that hardly 0.7 to 0.8 per cent population bore the burden of paying taxes. Terming the current system unfair, the prime minister observed that those people who had paid taxes were overburdened whereas others who shied away from paying the same were exempted. To fill the gap, the government had to go for indirect taxation. The prime minister also dropped a hint that the current tax slabs could be reduced to enable the people to pay their taxes. The exemption slab for the low income could be further adjusted, he added. He said the national identity cards could be utilized for creation of profiles to wider the tax net and stressed that Federal Bureau of Revenue (FBR) should enhance its trust with public.

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he Senate Standing Committee on Finance, Privatization and Statistics, in its meeting, has observed that hurried privatization of PIA will land the next government in trouble and the current government that has only four months left in the ofSice should not privatize the national Slag carrier.

The committee recommended that carving out process may be conducted and evaluation procedures may also be followed but the actual privatization should be put off till the next government takes ofSice. The meeting was held under the chairmanship of Senator Mohsin Aziz at the Parliament House and was attended among others by Senators Nasreen Jalil, Saleem Mandviwala, Malik Najmul Hassan, Saeedul Hassan Mandokhel, Minister for Privatization Daniyal Aziz, Secretary Privatization and other representatives from the ministry.

The committee was given detailed brieSing on privatization of Pakistan Steel Mill and the fate of its thousands of employees. The committee was told that the mill has

pM Abbasi says new tax amnesty scheme likely within two weeks

11,500 employees and a total of 188 billion liabilities. The committee was told that the transaction model approved by the Board of Privatization Commission will be a 30 year lease plan of the plant and the core land of Pakistan Steel Mills. The committee observed that the federal government should have Sindh

government on board regarding the lease agreements so that no issues arise later regarding land of the mill.

The committee was assured by the minister that committee’s concerns as to why UBL and HBL were given 6-7% discounts during sales of shares will be responded to in detail in the next meeting.

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ISLAMABAD

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he Senators has criticised controversial duty and tax exemption given to M/s China State Construction Engineering Corporation Limited by the Federal Board of Revenue (FBR).

The company has been exempted from paying federal excise duty and sales tax on imported construction material and goods which will be used for the Karachi-Peshawar Motorway (Sukkur-Multan section).

Speaking on a calling-attention notice, the senators asked why the exemption had been given to a par-

ticular company. Senator Murtaza Wahab of the People’s Party (PPP) said that an exemption could only be given across the board. “I wonder what prompted the FBR to give an exemption to the tune of Rs10.98 billion to the Chinese Sirm,” he said.

Awami National Party (ANP) Senator Ilyas Bilour claimed that the issuance of a statutory regulatory order (SRO) to grant the exemption on import duty after completion of 37 per cent work on the project was incomprehensible. “It means that you have opened the door for other Chinese companies and will dole out these favours to them in the future as well,” he said.

According to Pakistan Tehreek-iInsaf’s Nauman Wazir, initially the cost of the project was Rs240bn which went up to Rs440bn after retendering then was brought down to Rs296bn. He asked if this was the standard policy and if the government would give exemptions like this on all China-Pakistan Economic Corridor (CPEC) projects. Speaking in defence of the SRO, the minister of state for Sinance said that the ministry of communications had moved a summary to the Economic Coordination Committee (ECC), which considered and approved it. “We were advised [to issue the SRO] and we did it,” added Rana Muhammad Afzal. He said com-

munication ministry would be in a better position to explain intricacy of the matter. This led to another argument, with members of the Senate asking that if a project was based on loans — would it increase the loan if the company was charged federal excise duty and sales tax. Senate Chairman Raza Rabbani then proceeded to ask how a summary could be moved against the law. He referred to a judgement on the deSinition of the government and made it clear that the ECC was not the federal cabinet. Minister for Planning and Development Ahsan Iqbal responded to this and said that the Supreme Court judgement was being followed in letter and spirit.

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World Customs

Extra sugar exports reclassified for home use

MANILA: The Philippines has slashed its sugar allocation for the US and other countries due to the expected decline in production, the Sugar Regulatory Administration (SRA) said.SRA administrator Hermenegildo Serafica said 93 percent of sugar production would be for the domestic market, six percent for the US market, and the remaining one percent for the world market. During the start of the crop year last September 2017, the SRA originally allocated 80 percent for domestic, and 10 percent each for the US and world markets.The SRA classifies sugar into “A” for sugar for export to the US.

Wednesday February 7, 2018

Hong kong customs seizes smuggled glass display panels

South African taxpayer needs to know CAPE TOWN

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ong Kong Customs yesterday seized 888 pieces of suspected smuggled glass display panels and 12 suspected smuggled smartphones with an estimated market value of about $340,000 at Lok Ma Chau Control Point. Customs ofSicers yesterday intercepted two outgoing private vehicles at Lok Ma Chau Control Point for inspection and seized the batch of suspected smuggled glass display panels and smartphones from one of the drivers, inside the driving compartments of the two vehicles and under the spare tyres in the boot of the vehicles. Two male drivers aged 31 and 36 respectively were arrested. Investigation is ongoing. Smuggling is a serious offence. Under the Import and Export Ordinance, any person found guilty

new car sales in the netherlands soar to record €13b ew car sales in the Netherlands increased by €1.3bn, or more than 11%, to €13bn last year, the sector organisation RAI Vereniging said. As reported earlier, 414,538 new cars were sold in 2017, an increase of 8.4% over the previous year. The RAI organisation said buoyant sales of smaller SUVs boosted the price average while a higher average new car tax increased the total price.

Buyers have more confidence in the economy, RAI chairman Steven van Eijck commented. ‘After several years of overall economic growth, people are willing to spend more on a new car and this is reflected in the figures,’ he said. Private buyers spent an average of €29,596 in 2017, a 27% increase over the average €23,272 they paid 10 years earlier. However, the average price paid for a lease car fell back to €33,574 from the €34,569 paid in 2007. –CB Report

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of importing or exporting unmanifested cargo is liable to a maximum Sine of $2 million and imprisonment for seven years.

Meanwhile, Hong Kong Customs yesterday seized 68 melons with a suspected false claim of origin and an estimated market value of about $1,775 from three fruit retailers in Mong Kok and Sham Shui Po.

Customs earlier received information alleging that fruit retailers in Mong Kok and Sham Shui Po areas sold a type of melon with a suspected false claim of origin bearing “Hokkaido” and “greenhouse” markings. Customs investigations revealed that the retail price of the fruit was greatly lower than it is for those of Japanese origin.

Tbilisi slams russia over customs point opening in S.ossetia

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We condemn the opening of customs points in the occupied regions of Georgia, namely the opening of the so called customs point in Akhalgori by Russian occupation regime and the creation of the so called specialized customs post in Sokhumi by the Russian Federation,” the Georgian Ministry of Foreign Affairs wrote in its statement. The two posts, according to MFA, “are aimed at integration of oc-

cupied Abkhazia and Tskhinvali regions within the customs sphere of the Russian Federation and represent another illegal step towards factual annexation of these regions by the Russian Federation.” The Ministry drew particular attention to the recent opening of the “customs point” in Akhalgori Municipality, saying the opening, as well as the parallel ban on meat and dairy product transportation. –CB Report

outh Africa has a highly favourable tax environment for investors but a good awareness of the legislation is required in order to make the Tax Act work for you. This is according to Neill Hobbs, co-founder and director of Anuva Investments, who has highlighted a few key pieces of legislation that investors should consider. Any pension (government or non-government) accumulated for services rendered outside of South Africa will not be subject to tax in this country.

This also relates to any lump sum, pension or annuity received by or accrued to a South African resident from a source outside of South Africa as consideration of past employment outside this country. Considering the growing number of corporate nomads who work in different jurisdic-

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tions, this is an important piece of legislation. RA contributions are taxdeductible and according to the Tax Act, investors can deduct up to 27.5% of their gross remuneration or taxable income (whichever is higher) in respect of total contributions to a pension, provident or RA fund. This is subject to an annual cap of R350,000 per tax year. A PBO is an entity that is created to carry out some form of public beneSit activity, such as a trust or a not-for-proSit organisation. PBOs who are registered and are able to provide you with an 18A certiSicate will allow you to deduct your donations made from your taxable income.

Your deduction is capped at 10% of your taxable income. A commonly used tax allowance for property investors is the ‘wear and tear’ allowance against the more standard assets such as furniture. In terms of furniture, a taxpayer may deduct 20% of the cost of the asset per year against income until the full cost of the asset has been claimed, adding up to 5 years.

Africa’s economy to pick up in 2018 frica’s economy is expected to grow 3.5 per cent in 2018, an increase of 0.3 percentage points from 2017, a UN ofSicial said Thursday. Speaking at 30th AU Summit being held in Ethiopia’s capital Addis Ababa, Vera Songwe, Secretary-General of the UN Economic Commission for Africa (UNECA), said the growth uptick will be underpinned by strengthened external demand and moderate increase in commodity prices. She said the growth will also be supported by more favorable domestic conditions including restoration of oil production in a number of countries and expected recovery in 2018

and 2019 of major economies like Egypt, Nigeria and South Africa. Although poverty level is reducing, it is still intolerably high at an average of 40 percent for the continent. As Such, there’s need to upscale efforts at structural reforms, prudent economic management and promoting regional integration.” Nevertheless, UNECA projects the uptick in economic growth to continue for some time with 3.7 percent economic growth expected in 2019. SDGs are a universal set of goals, targets and indicators that UN member states will be expected to use to frame their agendas and political policies until 2030. –CB Report

china’s economy starts 2018 on solid trajectory

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BEIJING

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hina data showed some softening at the end of an upbeat year, reports for this month are looking likely to show the economy keeping pace despite slowing industrial proSits.

The earliest indicators for Janu-

ary show momentum remains intact, with sales managers the most upbeat since July, Sinancial experts more optimistic, and satellite imagery signalling manufacturing conditions are improving for the Sirst time in four months. That reading is in line with forecasts that both main factory gauges remained at solidly expansionary levels.

“The strong momentum will

likely be carried over to the Sirst quarter, with the economy being supported by strong external demand and domestic consumption,” said Xia Le, chief Asia economist at Banco Bilbao Vizcaya Argentaria SA in Hong Kong. “The risk factor is deleveraging, as the market is still underestimating how tough it could be as China shifts its focus to the quality rather than speed of the

growth.” Such a transition was Beijing’s main message to the world last week as Liu He, President Xi Jinping’s chief economic adviser, told Sinancial and political elites in Davos that China is moving to upgrade its output rather than simply hit numerical targets. Robust economic data give it room to reform without as much worry the overhaul may undermine growth.

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NZ exports imports hit new high WILLING TON: New Zealand exports and imports hit new highs last year as the country earned more from agricultural products and bought more cars and computers. Goods exports jumped 11 percent to $53.7 billion in 2017 from with 2016, while imports increased 9.4 percent to $56.5 billion, with both surpassing their previous highs, Statistics New Zealand said. The annual trade deficit narrowed to $2.8 billion from $3.1 billion. China, Asia’s largest economy, remained New Zealand’s top trading partner for the fourth straight year. New Zealand exports to China surged 27 percent to $12 billion in 2017, accounting for 22 percent of the country’s total exports, while imports from China advanced 5.7 percent to $10.9 billion.

iran’s non-oil exports to indonesia grow by 217% ommercial Attaché of Iranian Embassy to Indonesia Anvar Kamari said, “according to the latest statistics published by the Islamic Republic of Iran Customs Administration (IRICA), Iran’s non-oil exports value to Indonesia in the nine months of the current Iranian calendar year hit $400 million, showing a considerable 21 percent as compared to the same period of last year. Given the above issue, Iran’s export of nonoil commodities to Indonesia increased 78.5 and 217 percent growth in the same period in terms of weight and value respectively. According to statistics, normal metals and their products with $195 million export has had the maximum growth export to Indonesia as compared to the corresponding period of last year.

Among ordinary metals, export of iron and steel from Iran to Indone-

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Ports & Shipping

Six accords of cooperation signed between gwadar, china’s ports

South korea’s passenger car exports drop 16.2 pct in Q4 verseas sales of South Koreamade passenger cars plunged sharply in the fourth quarter of 2017 from a year earlier due to a year-end adjustment of inventories, customs data showed Wednesday.

The total value of passenger car exports reached US$9 billion during the October-December period, down 16.2 percent from a year earlier. The on-year dip marks the largest since the third quarter of 2016, when the comparable figure was 17.4 percent, according to the data by the Korea Customs Service (KCS). By volume, a total of 590,000 units were shipped overseas during the fourth quarter of last year, also down 23 percent over the cited period, the data showed.

Exports to the United States and Saudi Arabia dipped, while shipments to Australia and Germany rose. Imports of passenger vehicles, meanwhile, surged 41.3 percent onyear to $3 billion during the threemonth period. –CB Report

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akistan and China on Monday inked five Agreements and a Memorandum of Understanding for strengthening collaboration between Gwadar and the Chinese port cities.

Prime Minister Shahid Khaqan Abbasi witnessed the ceremony, as representatives of Pakistan and China inked the documents, following the inauguration of Gwadar Free Zone. Chief Minister Balochistan Abdul Qudoos Bizenjo, Federal Minister for Interior Ahsan Iqbal, Federal Minister for Maritime Affairs Hasil Khan Bizenjo, Minister of State for Information Marriyum Auranzeb, Chairman China Overseas Port Holding Company Zhang Baozhong and Gwadar Port Authority Dostain Khan Jamaldini were present.

Agreements were signed declaring Pakistan’s Gwadar and China’s Tianjin as sister ports, and

Wednesday February 7, 2018

Gwadar and Piung as sister cities.

Another agreement was signed for close cooperation among Pakistan State Oil (PSO), GITL and Gwadar. The Securities and Exchange Commission of Pakistan and China’s Free Trade Zone Company signed an Agreement for co-

operation in their respective field.

Another Agreement was signed between Gwadar and HATA Trade City. The MoU on Gwadar Poverty Alleviation Initiative was inked between Gwadar district government and China Overseas Ports Holding Company.

‘new berth at gwadar port to be built in one year’ sia hit $182 million in the same period, showing a considerable 874 and 776 percent growth in terms and value and weight respectively as compared to the same period of last year. In this period, plastic products, carpet, textiles and chemicals has experienced a significant growth as compared to the last year’s corresponding period.

Import of products from Indonesia hit from $151 million in the nine months of the past Iranian calendar year (from March 20 to Dec. 22, 2016) to $115 million in the nine months of the current Iranian calendar year in 1396 (from March 21 to Dec. 23, 2017), showing a considerable 23 and 50 percent decline in terms of value and weight respectively. –CB Report

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tate Minister for Ports and Shipping Chaudhry Jaffer Iqbal said a new berth would be constructed at Gwadar port within one year, providing a larger anchoring space to accommodate three additional big ships.

The 900-metre-long berth will offer a vertical front from the Gwadar coastline into Arabian Sea to facilitate the loading and unloading of cargo from the vessels, the State Minister told APP here.

Jaffer said Gwadar port was functional and the process of transhipping and re-stuffing of vessels was already being carried out. He said work on construction of a 15kilometre-long road from Zero Point in Gwadar to Coastal Highway was underway, along with

laying of railway track side by side. He said a 1200 metre-long air strip at the new Gwadar International Airport would be completed in one year, allowing landing of larger aircraft including

A-380. The State Minister said a coal-fired plant would also be set up within a year period which would provide electricity to industrial zone. Chairman Gwadar Port Authority Dostain Khan

Jamaldini told media that development in Gwadar was in accordance with the vision of establishing a ‘Smart Port City’. He said Gwadar Expo 2018 was a step towards the port city’s commercialization and industrialization.

He expressed satisfaction over the immense response by Chinese and Pakistani companies, adding that 126 stalls by 86 leading companies had been set up at the Expo. He said since Iran’s Chabahar port and Gwadar had been declared as sister ports, an Iranian delegation had also arrived in to attend the mega event along with representatives from several other countries. He said Gwadar Port Authority was handling the terminal operations and the Free Zone along with China Overseas Ports Holding Company (COPHC), which was outsourced for services under a revenue sharing formula at government to government level.

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FIA arrests human traffickers after migrant boat tragedy LAHORE: The Federal Investigation Agency (FIA) has rounded up three men involved in human trafficking in the wake of the latest migrant tragedy off the coast of Libya.

On Friday, a boat full of migrants capsized off the Libyan coast, drowning all people.

More than a dozen Pakistanis were among those feared to have drowned.

An FIA official said Nisar Ahmed, Safdar and Kamran have been arrested for their alleged involvement in trafficking of the Pakistani migrants drowned in the recent Libyan boat tragedy.

Wednesday February 7, 2018

Business

railways adds modern wagons for coal loading ISLAMABAD

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akistan Railways has added 1405 modern wagons for coal loading and unloading (hopper wagons) for Qadirabad Coal Power Plant at Sahiwal during the last 4-5 years.

“Pakistan Railways is in process of upgradation of cargo trains and system of transportation of coal for Qadirabad Power plant has been upgraded by purchasing high power locomotives and high capacity/high speed wagons,” an ofSicial in the Ministry of Railways.

He said the proposed improvement on the anvil is procurement of

‘Joint efforts vital for country’s progress’ LAHORE

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820 high capacity/high speed wagons to replace old and overage Sleet of cargo wagons at a cost of Rs. 9516 million in next 1-2 years. “118 locomotives have been added in current

SBp directs exchange companies to keep transaction record for 10 years

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unjab Chief Minister Muhammad Shehbaz Sharif said that joint efforts should be made for ensuring progress and prosperity of the country.

Talking to media-persons here, he said, “The PML-N has proved that it is a true representative party of the people.” The chief minister said the Khyber Pakhtunkhwa government (led by the Pakistan Tehreek-i-Insaf) would have launched big projects in the province, had Imran Khan not wasted time in staging sit-ins.

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Sleet of locomotives to replace old and obsolete engines,” he added.

The ofSicial said that as compared to the year 2013-14 during 201617, the freight trains from Karachi

Port were increased from 182 trains per year to 3318 trains per year.

He said that under a strategy different companies have been enlisted for freight loading in block rakes to increase freight earning. Long haul long term agreements have been signed with major companies with advance payment in freight deposit accounts. “Maple Leaf Cement, Bestway Cement, Gharibwal Cement, Awan Trading Company and Chishtian Logistics are some of the major companies which deposit advance payments with Pakistan Railways for their transportation needs,” he said. In comparison to year 201213 when a total number of 46617 railway wagons were loaded, in 2016-17, 264256 wagons were loaded which is more than Sive times increase, he said.

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KARACHI

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tate Bank of Pakistan (SBP) has said all the exchange companies are required to maintain record of each foreign currency transactions and keep the record for at least 10 years.

In the updated Exchange Companies Manual – 2017 updated recently, the SBP said all dealings between an exchange company and its customers shall be supported by ofSicial receipts. “Such receipts shall

be prepared for every transaction in duplicate, one of which shall be provided to the customer,” according to the manual. It further said that every receipt provided to the customer shall be sequentially numbered and also bear the name of the exchange company, date, nature of transaction i.e. sale/purchase/transfer, currency dealt in, exchange rate and initials of dealer/authorized employee. “Exchange Companies must maintain all record of their business transactions including those related to remittances transactions (both Inward and Outward) for 10 years from the

date of transaction or longer if so prescribed under other laws, rules & regulations,” the central bank said.

Further all information/record should be maintained in such a manner that the same may be made readily available to State Bank or any other relevant Law Enforcement Agency as and when required as per related laws, it added. Any information/record requisitioned by any law enforcement agency during their investigation/prosecution process should also be provided in timely manner as per the governing laws.

Spi based weekly inflation down 0.19pc ISLAMABAD

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he Sensitive Price Indicator (SPI) based weekly inflation for the week ended on February for the combined income groups witnessed decrease of 0.19 percent as compared to previous week. The SPI for the week under review in the above mentioned group was recorded at 222.38 points against 222.80 points last week, according to the latest data released by Pakistan Bureau of Statistics (PBS). As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 1.69 per cent. The weekly SPI has been computed with base 2007, 2008=100, covering 17 urban centers and 53 essential items for all income groups.

Meanwhile, the SPI for the lowest income group up to Rs 8,000 also decreased by 0.40 percent as it went down from 211.94 points in the previous week to 211.1 points in the week under review. As compared to the last week, the SPI for the income groups from Rs 8001 to 12,000, Rs 12,001 to 18,000, Rs 18,001 to 35,000 and above Rs 35,000, also decreased by 0.35 percent, 0.31 percent, 0.24 percent and 0.03 percent respectively.

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establishment of national Tourism Authority urged RAWALPINDI

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he participants of a round table Pakistan Tourism conference has passed a unanimous resolution for the establishment of an independent Pakistan National Tourism Authority which could adopt measures and decisions for the promotion of tourism.

They said that public-private partnership should be promoted to achieve the targets for this sector which has huge potential.

The conference was chaired by Managing Director, PTDC, Ch. Abdul Ghafoor Khan and attended by representatives of UNWTO experts, Harry Hwang and George Drakopoulos, Aftab ur Rehman Rana, President of Sustainable Tourism Foundation Pakistan, Malik Akbar Ali, General Manager, Au-

dit Section, PTDC, Asif Javed, Executive Director, College of Tourism and Hotel Management (COTHIM), Sajjad Hussain Shah, President PATO, Izhar Ahmed, Tourism Coordinator, Rana Afzal Kamran, Managing Director, American School & College, Tahir Imran, CEO, Panoramic Pakistan, Saif ud din, Consultant/Journalist, E-Travelers Club Travel Update, Muhammad Ali Imam, Chief Executive, Freelance Consultant, Mehmood

Ahmad Malik, Managing Director Across Pakistan Tours, Karrar Haidri, Managing Director, Saltoro Summits, Hamid Subhani, Vice Chairman, PHA, Amjad Ayub and CEO/Ex-President PATO, Inner Asia, Islamabad. MD PTDC said, a National Tourism Authority should be formulate in Pakistan which exists in every country of the world. It is time to take bold steps in this regard, he added. He requested the Prime Minister, Shahid Khaqan Ab-

basi to convert PTDC into an independent National Tourism Authority which would enable PTDC to take decisions for promotion of tourism in the country. Ch. Abdul Ghafoor expressed the hope that he would be able to achieve the target of forming Tourism Authority in Pakistan within weeks instead of months or years. He further underlined the need of a Tourism Policy and informed that he along with his team is working on it.

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US business tax cut ‘could erode Europe’s tax base’ NEW YORK: Economists at the European Central Bank (ECB) have said the US corporate tax cut should lift the world’s largest economy in the short term – but warned that it could erode the tax base in European countries by intensifying global competition for lower rates.

ECB economists said the cut in business taxes will provide a “significant fiscal stimulus” to growth in the US in the short term. However, it warned that long-term effects were less clear, especially if the cut leads to larger US budget deficits. Effects on the 19-country eurozone are “highly uncertain and complex” but could include an erosion of the tax base if countries around the world compete by lowering their tax rates to attract businesses. “Lower US corporate tax rates raise the tax attractiveness of the United States relative to other countries,” the report said.

icci calls for separate amnesty schemes for local and foreign pakistanis

Wednesday February 7, 2018

Chambers

More italian businessmen interested in doing business with pakistan

ISLAMABAD

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slamabad Chamber of Commerce and Industry has lauded the announcement of Prime Minister Shahid Khaqan Abbasi that government intended to offer an amnesty scheme for foreign Pakistanis to enable them to declare their hidden foreign assets and bring back foreign exchange into the country. However, ICCI stressed that government should offer separate amnesty schemes for local and foreign Pakistanis that would help in broadening the tax base and improving the tax revenue of the country. Sheikh Amir Waheed President, Muhammad Naveed Senior Vice President and Nisar Mirza Vice President, Islamabad Chamber of Commerce & Industry have said that

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Pakistan was facing the challenge of low tax revenue and low tax to GDP ratio.

However, many Pakistanis living within the country and outside were possessing significant hidden assets and money that could be brought into the mainstream economy by offering separate amnesty schemes. They said offering such amnesty schemes at a time when Pakistan was facing decline in exports and rising trade as well as current account deficit would be a right move to bring more investment and money in the formal economy. They said the tax amnesty scheme could also help in accelerating the economic growth through production and utilization of hidden liquid assets in the main stream of the economy. They said it has become a common observation since last several years that the capital of Pakistani residents and non-residents was being invested in Middle East, Far Eastern countries.

KARACHI

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onsul General of Italy, Ms. Anna RufSino has said that Pakistan is a very interesting market for the Italian businessmen who are more and more interested in doing business with their Pakistani counterparts in different sectors of the economy. “Pakistan is amongst Italy’s priorities and it is a very interesting market for the Italian investors”, Italian CG said, “Italy can also provide expertise in many Sields like agriculture, waste management, clothes, food, leather and marbles etc.”

Speaking at a meeting during her visit to Karachi Chamber of Commerce & Industry on Monday, Ms. Anna hoped that the opportunities and potential between Pakistan and Italy will grow in the coming years.

President KCCI Muffasar Atta Malik, Senior Vice President Abdul Basit Abdul Razzak, Vice President Rehan Hanif, Chairman KCCI’s Diplomatic Missions & Embassies Liaison Sub-Committee Sohail Amin, Former President Majyd Aziz and KCCI Managing Committee Members

were also present at the meeting.

Italian CG further stated that 76 percent of Pakistan’s textile and clothing are exported to European Union which shows that it is a potential market for the Italian Textile Machinery. She informed that the Italian Government is looking forward to open Italian Trade Agency (ITA) in Karachi this year. “If it happens by April 2018, My Karachi Exhibition will be a good opportunity for ITA to share information about Italian companies through this exhibition”, she

added. In response to concerns expressed over issuance of visas, she said that the Italian Embassy and Consulate have a very pro-business approach in issuing business visas.

“If you fulSill the criteria, provide all the required documentation and if you are a real businessman, you will certainly get the visa which is not a big deal for us” she said, adding that visa was a very important instrument to increase business and commercial trade. While referring to GSP Plus status, she said that GSP plus

‘investment scenario in punjab improving fast’ LAHORE

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nvestment scenario in Punjab province is improving fast as large number of foreign investors have very recently signed agreements with provincial government for putting money in many new ventures. Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javaid said that it was not the foreign investment alone that was surging but the local businessmen were also showing great conSidence in the policies of provincial government.

Malik mentioned that Punjab was the most industrialized province; it produced textiles, sports goods, heavy machinery, electrical appliances, surgical instruments, cement, vehicles, auto parts, IT, metals, sugar

mill plants, cement plants, agriculture machinery, bicycles and rickshaws, Sloor coverings, and processed foods. The province had more than 68,000 industrial units which included 39,033 small and cottage industrial units, 14,820 textile units, 6,778 ginning industries, and 7,355 units for processing of agricultural raw materials including food and feed industries, he added.

To a question, he answered “Today, the energy situation in Punjab is not as bad what we were used to face in yester years and we are quite optimistic that in coming years power outages will become a story of the past as work on many new power generation projects is well on way.” LCCI President also expressed his satisfaction over the governance level in the province when is compared with other provinces, as an effective monitor-

ing mechanism had been put in place by the Chief Minister Punjab Muhammad Shehbaz Sharif. He, however, added that prudent economic policy decisions were always essential to any sustainable solution to the challenges being faced by the country. Talking about the issues being faced by the trade and industry, he said that taxation issues were impacting the competitiveness of Pakistani merchandise both in local and foreign markets. Lahore Chamber President urged on elimination of withholding tax on banking transaction, regulatory duty on 43 items, and also urged the government to withdraw sections 38 and 40-B, misuse of discretionary powers by the FBR staff and bank account attachment as these hurdles were not only keeping new taxpayers away from the tax net but also discouraging the existing taxpayers.

status to Pakistan is currently being reviewed which was a complicated procedure as it involves 27 EU members. “GSP Plus to Pakistan will be extended and we are conSident it will end in a positive way”, she added. In his welcome note, President KCCI Muffasar Atta Malik, while referring to existing trade volume between Pakistan and Italy, stressed the need to exchange more trade delegations between the two countries as the current trade volume was not that promising.

Asia markets trade lower sia markets fell across the board on Monday, following a sharp decline in U.S. stocks on Friday on a stronger-than-expected jobs report that sent interest rates higher. In Australia, the ASX 200 fell 95.20 points, or 1.56 percent, to 6,026.20, with most sectors declining. The heavily weighted financial subindex was down 1.29 percent, while the energy and materials sectors fell 2.56 percent and 2.18 percent, respectively. The biggest banking names in the country fell: Shares of ANZ were down 1.27 percent, Commonwealth Bank declined 1.23 percent, Westpac was down 1.23 percent and the National Australia Bank fell 1.25 percent. Major Australian miners were mostly lower. –CB Report

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Multan Customs Intelligence sold out goods & vehicles in Rs.12.73m MULTAN, Directorate of Customs Intelligence and Investigation Multan Range Office generated Rs12.73 million from the auction of seized vehicles and miscellaneous goods.

According to details, Customs Intelligence and Investigation has conducted auction of confiscated vehicles and various articles which were seized by Field Intelligence Unit (FIU) of customs staff in their different anti-smuggling activities with in their jurisdiction.

Wednesday, February 7, 2018

CUSTOMS BULLETIN

faisalabad customs forms teams for recovery of arrears from defaulters companies FAISALABAD nAeeM SHeikH

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he Customs Collectorate Assistant Collector Ameer Ahmad has formed special teams for the recovery of arrears from the almost 71 government defaulters company.

Assistant Collector Ameer Ahmad instructed the ofSicials concerned to constitute teams to complete this task. These teams were constituted according to Rules 215A of the Customs Act 2001.

These teams are constituted to scrutinize the cases of irrecoverable arrears from tax evaders. The team comprising Rana Abdul Nasir, Khalid Ashraf Noor, Muhammad Asif, Mehmood Ahmed Dogar, Muhammad Afzal Awan, Tanveerul Haq, Abdul Jabbar, inspector under the supervision of recovery branch Superintendent Rana Mukhtar Ahmed will assist the team.

Sources told that these teams will work in different areas of the city which includes Sargodha Road, Small Industrial Estate, Canal Road, Susan Road, Madina Town, district Chiniot, Jaranwala, Koh-e-Noor city, tehsil Samundari, Dajkot Road and other areas of their jurisdiction. Sources told

that the Superintendent recovery branch Rana Mukhtar Ahmed will give clear cut recommendations and will

ensure recovery of government dues from the defaulters under customs recovery rules 2001 and he will report to

the Assistant Collector Ameer Ahmed regarding their performance in each case. A fortnightly meeting will be held

in the ofSice of the recovery ofSicer on 2nd and 4th each month to evaluate performance of each inspector.

Multan rTo attaches 15 bank accounts of Mepco recovered rs.1.2b MULTAN

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he Federal Board of Revenue Regional Tax OfSice Multan has seized the 15 various bank accounts of Multan Electric Power Company (MEPCO) on non-payment of taxes.

Multan Electric Power Company (MEPCO) who is one of the major defaulters of the Regional Tax OfSice Multan. MEPCO has al-

most alleged outstanding taxes of Rs.12 billion in wake of sales taxes.

Said company have also unpaid assumed Rs.12 billion in terms of Income taxes and alleged defaulter of almost Rs.400 million against Federal Excise Duty to Regional Tax OfSice Multan.

Multan Electric Power Company is continuously using delaying tactics for the payment of their due taxes to Regional Tax OfSice.

The Federal Board of Regional Tax OfSice has issued several notices for the collection of their due taxes to MEPCO but they have not replied yet. The Regional Tax OfSice

Multan authorities took special permission from Federal Board of Revenue to initiate action against them for recovery of outstanding

tax amount and Multan tax authorities took strict action against them after getting green signal from High Ups. Commissioner Re-

Published by M S Raza O# 42, 3rd Flr Gull Plaza M.A Road Karachi, Printed by (Ibne Hassan Oset Printing Press, Shop No. 33 to 36 , Hockey Stadium, Karachi).

gional Tax OfSice Multan Zubair Bilal formed special team to take strict action against MEPCO which have seized almost 15 various bank accounts and recovered almost Rs.1.2 billion amount outstanding amount from their account after seizing it.

The payment of taxes from MEPCO is pending from few months and Regional Tax OfSice was facing severe issues in meeting their assigned targets and they decided to take strict action them to recover huge amount of taxes to alert big Sishes for the payment of their outstanding taxes.