Pakistan Customs revenue collection surge 1.5 percent

KARACHI: The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. three months (July-September 2016) has surged by 1.5 percent to Rs246.165 billion as against Rs242.552 billion in the same period last year July-September 2015.

The Customs duty collection by Pakistan Customs surged by 6 percent to Rs71.487 billion in July-September 2016 as compared with the collection of Rs67.43 billion in same period last year.

Customs duty collection by Pakistan Customs South region surged by 7.0 percent to Rs62.24 billion in July-September 2016 as compared with the collection of Rs58.109 billion last year.

Overall sales tax collection at import stage stood Rs131.65 billion during the period under review, down 0.75 percent as against Rs132.6 billion in the same months last year.

Customs Appraisement South’s collection of sales tax at import stage stood at Rs114.58 billion, up 3.5 percent as against Rs111.77 billion collected last year in the similar period.

Income tax collected by Pakistan Customs during (July-September 2016) stood at Rs41.13 billion as compared with Rs40 billion last year. Appraisement South collected Income tax of Rs36.18 billion in the period as against Rs35.1 billion collected in the same period last year.

Federal Board of Revenue (FBR) is quite satisfied with performance of Pakistan Customs as all the formations have been achieving their assigned targets. Since the dollar rates are stable for some time, therefore there have been no abnormal fluctuations in the revenue collection figures.

Chairman FBR Nisar Mohammad Khan eliminated several concessionary SROs, zero-rating was eliminated. Customs values were revised in line with the prevailing trends and workings were streamlined, which have made targets achievable.

Nisar Mohammad Khan is set to retire in January 2017. However, it is learnt that federal government will be keeping him on some other assignment.

Highest revenue collection in terms of Customs duty came from MCC Port Qasim, which collected Rs20.1 billion followed by MCC Appraisement West collecting Rs19.6 billion and MCC Appraisement East collecting Rs15.8 billion in July-September 2016.

For the months of July-September 2016, MCC Rawalpindi CD collection stood at Rs801 million; MCC Lahore CD collection stood at Rs5.4 billion; MCC Islamabad CD collection Rs497 million; MCC Peshawar CD collection Rs1.06 billion; MCC Multan CD collection Rs830 million; MCC Hyderabad CD collection Rs319 million; MCC Quetta CD collection Rs467 million; MCC Karachi preventive CD collection Rs5.8 billion; MCC Karachi EPZ-Imports CD collection stood at Rs43.3 million; MCC Sialkot CD collection Rs37 million and MCC Faisalabad customs duty collection in July-September 2016 stood at Rs492 million.

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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