KARACHI: The net contribution of Model Customs Collectorate (Appraisement) to the national kitty has increased by 12 percent to Rs86.316 billion in the first seven months of the current fiscal year (July 2012-January 2013) compared with Rs77.139 billion in the same period last fiscal year.
The officials attribute this phenomenon increase in the revenue collection to the strict control and reforms undertaken by the Collectorate under Manzur Memon, Collector Appraisement who has now been transferred to some other office. Zulfikar Malik has now assumed the office Collector Appraisement.
According to details, the collection of customs duty by Appraisement stood at Rs33.478 billion during the 7-month period compared with Rs28.488 billion during the same period last year registering an increase of 17.5 percent.
Similarly, sales tax collection surged by 10.1 percent to Rs40.179 billion during the period under review compared with Rs36.491 billion last year.
The additional sales tax collection surged to Rs2.028 billion from Rs1.941 billion last year, which makes total sales tax collection of Rs42.208 billion in the current fiscal year so far, which is 9.8 percent than the last year’s Rs38.432 billion.
The income tax collection during the period under review registered a marginal increase to Rs10.59 billion compared with Rs10.05 billion last year while FED stood at Rs39.46 billion down from Rs159 billion last year observing a decline of 75 percent.
It may be mentioned here that the total revenue collection of Rs86.316 billion is net of refunds/rebates of Rs44.32 billion during the current fiscal year, which has declined drastically from Rs151.93 billion worth of refunds/rebates paid last year.
As far as January 2013 is concerned to net revenue collection of MCC Appraisement stood at Rs10.344 billion declining 21.6 percent from Rs13.197 billion in January 2012 primarily because of the ban imposed on more than three years old cars.