Pakistan Customs collect revenue of Rs159.17 billion in two months

KARACHI: The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. two months (July-August 2016) stood at Rs159.17 billion as against Rs159.547 billion in the same period last year July-August 2015.

The Customs duty collection by Pakistan Customs surged by 4.27 percent to Rs45.42 billion in July-August 2016 as compared with the collection of Rs43.55 billion in same period last year.

Customs duty collection by Pakistan Customs South region surged by 6.14 percent to Rs39.916 billion in July-August 2016 as compared with the collection of Rs37.606 billion last year.

Overall sales tax collection at import stage stood Rs85.326 billion during the period under review, down 2.78 percent as against Rs 87.77 billion in the same months last year.

Customs Appraisement South’s collection of sales tax at import stage stood at Rs73.99 billion as against Rs73.926 billion collected last year in the similar period.

Income tax collected by Pakistan Customs during (July-August 2016) stood at Rs27.159 billion as compared with Rs26.779 billion last year. Appraisement South collected Income tax of Rs24.118 billion in the period as against Rs23.478 billion collected in the same period last year.

Highest revenue collection in terms of Customs duty came from MCC Port Qasim, which collected Rs13.045 billion followed by MCC Appraisement West collecting Rs12.768 billion and MCC Appraisement East collecting Rs10.297 billion in July-August 2016.

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.

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