Customs duty collection surges by 2.35 percent in 8 months

KARACHI: The Customs duty collection by Pakistan Customs surged by 2.35 percent to Rs39.361 billion during first 08 months ended August 31, 2015 as compared with the collection of Rs38.457 billion in the same period last year.

Similarly, Customs duty collection by Pakistan Customs MCC south region surged by 5.18 percent to Rs33.567 billion during 08 months i.e. January 01, 2015 to August 31, 2015 as compared with the collection of Rs31.913 billion in the same period last year.

An official said that FBR assigned targets to Customs for the purpose of preparing for the budget. “It does not mean that Customs had any obligation to achieve these targets by any means. These are just benchmarks set on the basis of previous collections,” he said.

Overall sales tax collection at import stage stood Rs78.858 billion during the period under review, down 10 percent as against Rs86.247 billion in the same period last year. Appraisement South collection of sales tax at import stage stood at Rs65.212 billion, down 11 percent as against Rs73.147 billion collected last year in the similar 11 months.

Income tax collected by Pakistan Customs during the 08 months period stood at Rs23.714 billion as compared with Rs23.172 billion last year. Appraisement South collected Income tax of Rs20.502 billion in the 08-month period ended August 31, 2015 as against Rs20.19 billion collected in the same period last year.

Highest revenue collection in terms of Customs duty came from MCC Appraisement East, which collected Rs10.843 billion followed by MCC Appraisement West collecting Rs9.547 billion and MCC Port Qasim collecting Rs8.861 billion in the 08 months ended August 31, 2015.

For the 8-month period under review MCC Rawalpindi CD collection stood at Rs 395.59 million compared with Rs702.37 million collected in same period last year i.e. (8MFY14); MCC Lahore CD collection stood at Rs3.196 billion (Rs3.545 billion in 8MFY14); MCC Islamabad CD collection Rs189.61 million (Rs227.35 million 8MFY14); MCC Peshawar CD Rs962.02 million (Rs728.73 million 8MFY14); MCC Multan CD collection Rs991.52 million (Rs1.015 billion 8MFY14); MCC Hyderabad CD collection Rs115.92 million (Rs78.59 million 8MFY14); MCC Quetta CD collection Rs312.16 million (Rs111.75 million 8MFY14); MCC Karachi preventive CD collection Rs3.746 billion (Rs1.899 billion 8MFY14); MCC Karachi EPZ-Imports CD collection stood at Rs40.69 million (Rs16.89 million 8MFY14); MCC Sialkot CD collection Rs19.82 million (Rs15.96 million 8MFY14) and MCC Faisalabad customs duty collection in 8MFY15 stood at Rs33.99 million compared with Rs308.80 million collected in 8MFY14.

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