Customs South revenue collection surges 18 percent

KARACHI: The overall revenue collection by Pakistan Customs South in the fiscal year so far i.e. four months (July-October 2017-18) stood at Rs367 billion, up 18 percent as against Rs310 billion in the same period last year July-September 2017-18.

The effective duty-tax ratio at Customs South also improved to 33 percent this year as revenue of Rs367 billion was collected on dutiable imports of Rs1116 billion compared with ratio of 30 percent last year when a revenue of Rs310 billion was collected on dutiable imports of Rs1045 billion.

Overall, Pakistan Customs’ revenue collection in the period under review stood at Rs429 billion, up 21 percent as against collection of Rs356 billion last year.

Customs Duty collection by Pakistan Customs stood at Rs123 billion during July-October 2017-18 compared with Rs103 billion same period last year. Customs duty collection by Pakistan Customs South region surged stood at Rs106 billion in July-October FY18 as compared with the collection of Rs90 billion last year.

Overall sales tax collection at import stage stood Rs237 billion during the period under review as against Rs191 billion in the same months last year. Customs Appraisement South’s collection of sales tax at import stage stood at Rs201 billion as against Rs167 billion collected last year in the similar period.

Income tax collected by Pakistan Customs during (July-October FY18) stood at Rs66 billion as compared with Rs59 billion last year. Appraisement South collected Income tax of Rs58 billion in the period as against Rs52 billion collected in the same period last year.

Highest revenue collection in terms of Customs duty came from MCC Port Qasim, which collected Rs33 billion followed by MCC Appraisement East collecting Rs34 billion and MCC Appraisement West collecting Rs26 billion in July-October FY18.

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