KARACHI: The overall revenue collection by Pakistan Customs South in the fiscal year so far i.e. three months (July-September 2017-18) stood at Rs267 billion, up 16 percent as against Rs230 billion in the same period last year July-September 2017-18.
The effective duty-tax ratio at Customs South also improved to 34 percent this year as revenue of Rsa267 billion was collected on dutiable imports of Rs792 billion compared with ratio of 30 percent last year when a revenue of Rs230 billion was collected on dutiable imports of Rs776 billion.
Overall, Pakistan Customs’ revenue collection in the period under review stood at Rs310 billion, up 18 percent as against collection of Rs263 billion last year.
Customs Duty collection by Pakistan Customs stood at Rs88 billion during July-September 2017-18 compared with Rs77 billion same period last year. Customs duty collection by Pakistan Customs South region surged stood at Rs77 billion in July-September FY18 as compared with the collection of Rs67 billion last year.
Overall sales tax collection at import stage stood Rs173 billion during the period under review as against Rs142 billion in the same months last year. Customs Appraisement South’s collection of sales tax at import stage stood at Rs147 billion as against Rs124 billion collected last year in the similar period.
Income tax collected by Pakistan Customs during (July-September FY18) stood at Rs49 billion as compared with Rs44 billion last year. Appraisement South collected Income tax of Rs43 billion in the period as against Rs39 billion collected in the same period last year.
Highest revenue collection in terms of Customs duty came from MCC Appraisement East, which collected Rs25 billion followed by MCC Port Qasim collecting Rs24 billion and MCC Appraisement West collecting Rs19 billion in July-September FY18. Since South Asia Port has been established and much of the cargo is diverting from MCC Appraisement West to South Asia Port, collection of MCC Appraisement West has been lower.
Collector Port Qasim Saeed Akram, Collector MCC Appraisement West Shahnaz Maqbool, Collector Appraisement East Ashad Jawad and Collector MCC Peshawar Gul Rehman have done a commendable job as the effective rate of customs duty against dutiable imports has increased.
The effective rate of customs duty against dutiable imports at MCC Port Qasim clocked in at 9.0 percent in July-September FY18, up from 8.0 percent recorded in the same period last year.
The effective rate of customs duty against dutiable imports at MCC Appraisement East clocked in at 10.5 percent in July-September FY18, up from 9.5 percent recorded in the same period last year.
The effective rate of customs duty against dutiable imports at MCC Appraisement West clocked in at 14 percent in July-September FY18, up from 12 percent recorded in the same period last year.
The effective rate of customs duty against dutiable imports at MCC Peshawar clocked in at 10 percent in July-September FY18, flat as against 10 percent recorded in the same period last year.