Revenue collection by Pakistan Customs surges by 50 percent in four years
KARACHI: The policies of Pakistan Customs have given results, which is evident from significant surge in the revenue collection at import stage.
The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. nine months (July-March 2015-2016) has surged by 50 percent to Rs772.72 billion as against Rs513.85 billion in the period July-March 2012-13. Pakistan Customs collected a total of Rs674.53 billion in (July-March 2014-2015)
The revenue collection by Customs at import stage has gradually increased through these four years. An official said the quantum of legitimate imports had surged owing to the rigorous anti-smuggling campaign being pursued by Federal Board of Revenue (FBR), reduction in concessionary SROs and Pakistan Customs efficiency in reducing under-invoicing, mis-declaration and other such practices.
The Customs duty collection by Pakistan Customs surged by 18 percent to Rs215.8 billion in July-March 2016 as compared with the collection of Rs183.2 billion in same period last year.
Customs duty collection by Pakistan Customs South region surged by 23 percent to Rs185.6 billion in July-March 2016 as compared with the collection of Rs150.5 billion last year.
Overall sales tax collection at import stage stood Rs424.2 billion during the period under review, up 14 percent as against Rs370.67 billion in the same months last year.
Customs Appraisement South’s collection of sales tax at import stage stood at Rs353.25 billion, up 13 percent as against Rs312.529 billion collected last year in the similar period.
Income tax collected by Pakistan Customs during (July-March 2016) stood at Rs125.6 billion as compared with Rs103.3 billion last year. Appraisement South collected Income tax of Rs109.6 billion in the period as against Rs88.99 billion collected in the same period last year.
Highest revenue collection in terms of Customs duty came from MCC Appraisement West, which collected Rs56.579 billion followed by MCC Port Qasim collecting Rs56.569 billion and MCC Appraisement East collecting Rs51.371 billion in July-March 2016.
For the months of July-March 2016, MCC Rawalpindi CD collection stood at Rs2.014 billion compared with Rs2.56 billion collected in same period last year; MCC Lahore CD collection stood at Rs17.7 billion (Rs17.99 billion in July-March 2015); MCC Islamabad CD collection Rs1.345 billion (Rs1.17 billion July-March 2015); MCC Peshawar CD collection Rs4.54 billion (Rs3.7 billion July-March 2015); MCC Multan CD collection Rs3.45 billion (Rs5.7 billion July-March 2015); MCC Hyderabad CD collection Rs1.14 billion (Rs1.26 billion July- March 2015); MCC Quetta CD collection Rs1.5 billion (Rs649 million July-March 2015); MCC Karachi preventive CD collection Rs18.2 billion (Rs19.17 billion July-March 2015); MCC Karachi EPZ-Imports CD collection stood at Rs219.1 million (Rs112.4 million July-March 2015); MCC Sialkot CD collection Rs105.6 million (Rs90.6 million July-March 2015) and MCC Faisalabad customs duty collection in July-March 2016 stood at Rs754.4 million compared with Rs1.1 billion collected in July-March 2015.
The revenue collection has been surging under the Customs and it is expected the revenue collection would further surge 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.