KARACHI: The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. six months (July-December 2015) has surged by 7.5 percent to Rs499 billion as against Rs464 billion in the same period last year July-December 2014.
The Customs duty collection by Pakistan Customs surged by 13 percent to Rs140 billion in July-December 2015 as compared with the collection of Rs123 billion in same period last year.
Customs duty collection by Pakistan Customs MCC south region surged by 18 percent to Rs119 billion in July-December 2015 as compared with the collection of Rs101 billion last year.
Overall sales tax collection at import stage stood Rs272 billion during the period under review, up 7.0 percent as against Rs254 billion in the same months last year.
Appraisement South’s collection of sales tax at import stage stood at Rs228 billion, up 6.0 percent as against Rs215 collected last year in the similar period.
Income tax collected by Pakistan Customs during (July-December 2015) stood at Rs82 billion as compared with Rs71 billion last year. Appraisement South collected Income tax of Rs71 billion in the period as against Rs62 billion collected in the same period last year.
Highest revenue collection in terms of Customs duty came from MCC Appraisement West, which collected Rs36.4 billion followed by MCC Appraisement East collecting Rs34.4 billion and MCC Port Qasim collecting Rs33.6 billion in July-December 2015.
For the months of July-December 2015, MCC Rawalpindi CD collection stood at Rs1.56 billion compared with Rs2.07 billion collected in same period last year; MCC Lahore CD collection stood at Rs11.4 billion (Rs12.29 billion in July-December 2014); MCC Islamabad CD collection Rs877.88 million (Rs797 million July-December 2014); MCC Peshawar CD collection Rs3.4 billion (Rs2.58 billion July-December 2014); MCC Multan CD collection Rs2.7 billion (Rs4.095 billion July-December 2014); MCC Hyderabad CD collection Rs815.5 million (Rs850 million July-December 2014); MCC Quetta CD collection Rs987 million (Rs396 million July-December 2014); MCC Karachi preventive CD collection Rs12.178 billion (Rs6.18 billion July-December 2014); MCC Karachi EPZ-Imports CD collection stood at Rs143 million (Rs66 million July-December 2014); MCC Sialkot CD collection Rs68 million (Rs64 million July-December 2014) and MCC Faisalabad customs duty collection in (July-December 2015) stood at Rs410 million compared with Rs838 million collected in July-December 2014.
The revenue collection has been surging under the Customs and it is expected the revenue collection would further surcharge as several exemptions have been removed.
Moreover, the anti-smuggling campaign underway, having the consensus of PML-N government as well as military leadership, has discouraged the illicit trade and more government’s legitimate revenue realization is affected.