Day: December 9, 2021

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FBR Seized Non-Duty Paid Cigarettes Worth Over 20 Million in 5 Months

The Inland Revenue Enforcement Network (IREN) of the Federal Board of Revenue (FBR) seized 8,320,000 illegal cigarettes worth Rs. 21,479,625 involving duties and taxes of Rs. 17,242,635 in November, 2021.

In the first five months of the fiscal year 2021-22, IREN has seized non-duty paid cigarettes of Rs. 177,959,737 (approximately 74,131,500 sticks) resulting in detection of evasion of duties and taxes worth Rs. 142,905,265.

It is pertinent to mention that Prime Minister Imran Khan has recently launched Track & Trace System in the sugar sector. Therefore, IREN has also been entrusted to ensure its enforcement in the entire supply chain of the sugar industry.

For this purpose, the Chief Coordinator IREN and his Regional Enforcement Squads across Pakistan are geared to conduct raids and ensure seizures on the non-tax paid sugar stocks, which move out of the factory premises/warehouses without tax stamps. As a result, IREN squads have intensified their operations in every nook and corner of the country against the non-compliant supply chain operators dealing in the sugar sector in order to maximize revenue potential.

The squads have raided various sugar dealers in almost all big cities and various small towns to check sugar stocks. During these raids, Hyderabad Squad seized stock of 172 sugar bags without tax stamps in the premises of M/s Gulzar & Co. Action was initiated against those who were found involved in the tax evasion.

Chairman FBR, Dr. Muhammad Ashfaq Ahmed, has appreciated the performance of IREN squads and announced cash rewards for the officers who conducted successful raids. In a statement, he said the Track & Trace System coupled with IREN’s valiant drive would help overcome the menace of non-tax paid goods in the market.

Source: Pro Pakistani

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Govt to Retain Sales Tax Exemption on Electric Vehicle Imports

The government has decided to retain sales tax exemption on electric vehicles and kits imported by local manufacturers of such vehicles under the Tax Laws (Fourth) Amendment Bill, 2021 to be tabled before the National Assembly.

Highly-placed officials told ProPakistani that the Tax Laws (Fourth) Amendment Bill, 2021 will withdraw sales tax exemptions of Rs. 350 billion in the coming days.

Furthermore, the government has decided not to impose a 17 percent sales tax on electric vehicles. The sales tax exemption would be retained on the import of CKD (in kit form) of the following electric vehicles by local manufacturers till 30 June 2026:

i. Small cars/SUVs with 50 kWh battery or below; and

ii. Light commercial vehicles (LCVs) with 150 kWh battery or below

The sales tax exemption would be retained on the import of CKD kits by local manufacturers of the following Electric Vehicles:

i. Road tractors or semitrailers (Electric Prime Movers)

ii. Electric buses

iii. Three-wheeler electric rickshaw

iv. Three-wheeler electric loader

v. Electric trucks

vi. Electric motorcycle

Some sales tax exemptions to be retained include import and supply of construction materials, machinery, equipment, and materials to Gwadar Export Processing Zone’s investors and Export Processing Zone Gwadar or other Export Processing Zones.

Exemptions available to the Chinese companies under the CPEC would also be retained after the issuance of the Tax Laws (Fourth) Amendment Bill, 2021. The sales tax exemption would continue on the import of plant, machinery, equipment, and raw materials for consumption of these items within the Special Technology Zone by the Special Technology Zone Authority, zone developers, and zone enterprises.

The exemption would be retained on the import of raw materials, components, parts, and plant and machinery by registered persons authorized under the Export Facilitation Scheme, 2021.

The Ninth Schedule (Mobile Phones); Eighth Schedule (Conditional sales tax exemption) and the Sixth Schedule (Exemption) of the Sales Tax Act 1990 would be minimized and only a few entries would be left in the said schedules. The Federal Board of Revenue will eliminate all zero-rated goods (Fifth Schedule), except on export and capital machinery goods, and move them to the standard rate of 17 percent sales tax rate.

FBR will eliminate exemptions (Sixth Schedule) excluding a small subset of goods (i.e., basic food, medicines, live animals for human consumption, education, and health-related goods) and bring all others to the standard rate of 17 percent.

Similarly, FBR will remove reduced rates under the Eight Schedule and bring all those goods to the standard sales tax rate. The Ninth Schedule of the Sales Tax Act may not be completely abolished, but some phones would be subjected to the standard rate of 17 percent sales tax.

The Third Schedule items would be retained on which sales tax has been charged on the basis of the printed retail price.

Source: Pro Pakistani

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West Indies Team Arrives in Pakistan

The West Indies cricket team has arrived in Pakistan for their limited-overs tour of the country. West Indies arrived in Karachi, the venue for the entire tour, early morning today.

The touring party was moved from the airport to the hotel under strict security measures arranged by the Pakistani authorities. The players and the staff members have been put in quarantine for a day after which they will be allowed to undergo training sessions at the National Stadium Karachi.

The tour includes three ODI matches and three T20I matches all scheduled to be played at National Stadium Karachi. The tour will begin on 13 December with the first T20I between the two sides. West Indies will be led by Nicholas Pooran in the T20I series whereas Shai Hope will captain the ODI team after the captain, Kieron Pollard, was ruled out due to injury.

Source: Pro Pakistani

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Sajid Khan Reveals the Reason Behind His Epic Mustache

Pakistan’s off-spinner, Sajid Khan, has witnessed a meteoric rise after his record-breaking performance in the second Test match against Bangladesh. Sajid picked up 12 wickets in the match including 8 in the first innings as Pakistan pulled off an amazing victory and registered a 2-0 series victory.

Sajid was named as player of the match for his wonderful performance and gained instant stardom as every Pakistani cricket fan appreciated his contribution to the Pakistan cricket team. Apart from his exquisite off-spin on the field, Sajid’s epic mustache now has its own fan base.

The 28-year old’s unique style has intrigued the fans as they want to know the reason behind the decision to keep such a style of mustache. Sajid had revealed his decision to keep a mustache back in 2019.

The off-spinner initially rose to fame in Pakistan’s domestic circuit for his record-breaking performance in the 2019 Quaid-e-Azam Trophy. During a post-match press conference, Sajid was asked the reason behind him keeping a mustache.

Sajid revealed that he decided to grow a mustache because of his father. Sajid said that his father had a similar mustache so he decided to grow it as well. He further revealed that his father used to serve in the Pakistan Army and passed away in 2003.

Source: Pro Pakistani

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Here are Pakistan’s Best Performers in Test Cricket This Year

Pakistan has had a brilliant year in Test cricket and is one of the most successful sides in the longest format in 2021. The Men in Green have won 7 of their 9 matches in the calendar year and have the best win percentage in the world.

The Green Shirts are currently sitting on the second spot in the ongoing cycle of the World Test Championship and with a favorable schedule ahead, they have a strong chance of qualifying for the final of the competition in 2023. Pakistan’s solid performances in the year have been down to magnificent individual displays by a number of players. Let’s have a look at the best performers for Pakistan in Test cricket.

Most Runs

Abid Ali was the highest run-scorer for Pakistan in Test cricket in 2021. Abid was the fifth-highest run-scorer in the world in the calendar year as he scored 695 runs at an average of 49.64 in 15 innings. He scored 2 centuries and 2 half-centuries and was also named as player of the series in Pakistan’s clean-sweep against Bangladesh.

Most Wickets

Shaheen Afridi led the Pakistan pace attack throughout the calendar year. He finished as the highest wicket-taker for Pakistan and the second-highest wicket-taker overall. Shaheen picked up 47 wickets at an average of 17.06 in 9 matches in the year. His best figures in an innings were 6/51 as he dismantled the West Indies batting unit in the second Test match between the two sides. He also picked up 3 five-wicket hauls in 2021.

Most Hundreds

Veteran middle-order batter, Fawad Alam had a monumental comeback year in Test cricket. The unorthodox batter scored three Test centuries, the most by a Pakistani batter and third-most across the world in the calendar year. Fawad scored 571 runs at an average of 57.10 in 13 innings he played in 2021.

Most 5-fors

Hasan Ali made a formidable new-ball partnership with Shaheen Afridi. The right-arm pacer was Pakistan’s second-highest wicket-taker and the third-highest wicket-taker in the world in 2021. He picked up 5 five-wicket hauls in the calendar year which is joint-most by a bowler across the world this year. Hasan picked up 41 wickets at an average of 16.07 in 8 matches.

Pakistan team will be determined to continue its rich vein of form in 2022 and make it to the World Test Championship final the following year. The Men in Green have a bumper home season ahead as they are set to host the likes of Australia, New Zealand, and England in the coming year.

Source: Pro Pakistani

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Quetta Gladiators Trade Superstars From Islamabad and Multan

Pakistan Super League (PSL) franchises, Islamabad United and Quetta Gladiators have made a big trade ahead of the PSL 2022 draft. Islamabad’s middle-order batter, Iftikhar Ahmed, has been traded to Quetta Gladiators for their wicket-keeper batter, Azam Khan.

This is Quetta’s third trade deal ahead of the PSL 2022 draft. They have also traded in Shahid Afridi and James Vince from Multan Sultans. In turn, Multan will get Quetta’s diamond and silver picks in the PSL 2022 draft.

Islamabad United were looking for a hard-hitting wicket-keeper batter in their squad ever since the retirement of Luke Ronchi. Despite solid performances by Rohail Nazir behind the stumps, they required a wicket-keeper batter who could hit big. Azam Khan fits the profile perfectly.

Quetta Gladiators had earlier hinted that they would be willing to let go of Azam Khan if any other franchise offers him a permanent wicket-keeping slot. In turn, Quetta acquired the services of Iftikhar Ahmed who will bring much-needed experience and stability to their fragile middle-order.

Quetta will be hoping that these three players can turn around their fortunes and help them qualify for the playoffs for the first time in three seasons.

Source: Pro Pakistani

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