Custom C&F Values in US$ per piece (As on 30-08-2018 under Valuation Ruling # 1319) S # HS Code Vehicle Type RIM Size Tyre Size Japan Int’l India China Others 1 4011.2011 Light Truck Radial 12 145-R12C-8PR 14 13 13 10 12 2 4011.2019 Light Truck 10 480-10/500-10/8pr 13 12 12 9 11 3 4011.2019 Light Truck 12 450-12-8pr 14 13 13 10 12 4 4011.2019 Light Truck 12 500-12-6PR 16 14 14 11 13 5 4011.2019 Light Truck 12 500-12-8PR 18 16 16 12 15 6 4011.2019 Light…
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Nausheen Javaid officially new FBR Chairperson
KARACHI: The Establishment Division, Government of Pakistan, has terminated the appointment of Syed Muhammad Shabar Zaidi as Chairman Federal Board of Revenue (FBR) and appointed Ms. Nausheen Javaid Amjad as the new Chairperson of FBR with immediate effect. Ms. Nausheen Javaid Amjad (BS-22) is presently posted as Member (Admin) FBR with additional charge of Chairperson FBR. An official said now that Ms. Nausheen is appointed Chairperson FBR, she would be able to take decisions with full authority, and several reforms are likely to be introduced in the near future. The…
Read MoreUnder-invoicing cases to be processed under money laundering laws
KARACHI: The Directorate of Post Clearance Audit (PCA) has initiated scrutiny and analysis of last five year data comprising FIRs lodged for under-invoicing, mis-declaration and over-invoicing, Order-in-Originals and Contravention Reports served on importers and traders. The cases of under-invoicing, mis-declaration and over-invoicing would now be processed under Anti-Money Laundering Act also. First case has been lodged against M/s Megaplus Pakistan, wherein the authorities are determining the means of illegal transfer of funds from Pakistan. Ministry of Finance has reportedly assigned Directorate of Post Clearance Audit (PCA) and its high profile…
Read MoreECC bans wheat export from Pakistan
ISLAMABAD: The federal government on Wednesday decided to impose a ban on export of wheat and wheat flour amid rising concern over the price hike trend of roti and other wheat products in the wake of low wheat production in the country. The cabinet’s Economic Coordination Committee (ECC), headed by Adviser to Prime Minister on Finance and Revenue Dr Hafeez Shaikh, took the decision at a meeting. During the Rabi season 2018-19, the ministry of national food security and research recorded 24.12 million tonnes of wheat production against the projected…
Read MoreFBR sends notices to parents paying Rs 2 lakh per year
LAHORE: The Federal Board of Revenue (FBR) is desperately looking for potential taxpayers these days and is aggressively digging the record of Pakistani citizens who, at some stage, have come under prominent sections of the Income Tax Ordinance. According to media, recently, the tax collecting agency has dispatched letters to parents, who are paying an annual fee of Rs200,000 to the educational institutes where their children are studying, asking them to declare their hidden assets and become a tax return filer. “Data available with the FBR reveals that advance tax…
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