Customs

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Customs

A general term for an agency in a country responsible for controlling the flow of goods into the country. Customs agencies attempt to prevent dangerous, hazardous or illegal materials from entering the country, and also collect tariffs and other taxes. They may also enforce import quotas.
References in periodicals archive ?
However, the Customs Officer in India may or may not use the Dubai price as the basis for imposing the custom duty. The officer could apply a higher price or "assessed value" of the same TV, quoted from an internal database of TV models and their prices.
Even in China, where they are on the verge of achieving self-sufficiency for medical devices, the custom duty has been brought down from 4.3 percent to three percent.
b) Reduction of custom duty from 16 to 5 percent on surgical gown and bandage
However, the proposal regarding the reduction in the custom duty exemptions to zero percent was not agreed by the FBR.
APTMA, while strongly demanding zero percent custom duty on import of coal to be used for generation of energy in its proposals for next budget (FY) 2018-19 has said that the exemption of custom duty on import of coal for energy generation will reduce the cost of doing business and help those units which were forced to shut their production activity will become operative again.
The export is not taking place due to high custom duty. We hope that the duty gets reduced but it is not happening.
Besides, the ECC's decision to charge the oil consumers with Rs48 crore under the head pf custom duty of May 2015 was kept secret from media.
ISLAMABAD -- Minister for Finance and Revenue, Senator Ishaq Dar on Friday proposed reduction in rate of custom duty to import machinery for dairy, livestock and poultry sectors from 5 percent to 2 percent.
The Finance Minister said: "A concessional custom duty of 5 per cent to machinery instruments, equipments and appliances etc.
The FBR has issued notification SRO 248 (I)/2009 whereby all goods imported under Pak-Sri Lanka Free Trade Area (PSFTA) agreement barring those mentioned in SRO 570(I)/2005 would enjoy hundred percent reduction in custom duty. Under the PSFTA, Pakistan was required to reduce custom duty by 100 per cent in three phases.
According to the notification, the textile exporters can import cotton from India and other countries without any custom duty and any other taxes.
ISLAMABAD, July 26, 2011 (Balochistan Times): National Tariff Commission (NTC) would hold a public hearing on the issue of tariff protection through reduction of custom duty and sales tax on the import of Tin Mill Black Plate (TMBP) on August 10.