Revenue collection by Pakistan Customs reaches Rs335 billion in four months

KARACHI: The overall revenue collection by Pakistan Customs in the fiscal year so far i.e. four months (July-October 2016) stood at Rs335 billion as against Rs337 billion in the same period last year July-October 2015.

The Customs duty collection by Pakistan Customs surged by 4.3 percent to Rs97.45 billion in July-October 2016 as compared with the collection of Rs93.68 billion in same period last year.

Customs duty collection by Pakistan Customs South region surged by 6.25 percent to Rs84.26 billion in July-October 2016 as compared with the collection of Rs80.5 billion last year.

Overall sales tax collection at import stage stood Rs180.59 billion during the period under review, down 1.6 percent as against Rs183.8 billion in the same months last year.

Customs Appraisement South’s collection of sales tax at import stage stood at Rs156.46 billion, up 1.2 percent as against Rs154.86 billion collected last year in the similar period.

Income tax collected by Pakistan Customs during (July-October 2016) stood at Rs55.32 billion as compared with Rs55.93 billion last year. Appraisement South collected Income tax of Rs48.44 billion in the period as against Rs48.774 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.

Highest revenue collection in terms of Customs duty came from MCC Port Qasim, which collected Rs27.625 billion followed by MCC Appraisement West collecting Rs26.629 billion and MCC Appraisement East collecting Rs21.13 billion in July-October 2016.

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