KARACHI: With the start of new fiscal year, the Federal Board of Revenue is yet to assign the Model Customs Collectorates MCCs Appraisement West, South, Exports, Preventive and Port Muhammad Bin Qasim the revenue collection targets for the new fiscal year 2015-16, it is learnt.
The FBR used to work out revenue targets in the federal budget that was presented in the National Assembly by Federal Finance Minister Senator Ishaq Dar in the month of June 2015.
And, the FBR is supposed to assign the revenue targets to all the tax collecting bodies to start generating revenue with certain targets. However, the FBR authorities are yet to shift the targets to the Collectorates and the RTOs, sources told Customs Today.
During fiscal year 2014-15, the FBR had given revenue collection target of Rs 217 billion to the MCC Appraisement-West however the target was surpassed under the leadership and untiring efforts of Collector Muhammad Saleem.
The Collectorate Enforcement-South attained 99pc Rs 25.300bn customs duty target for fiscal year 2014-15 against the total revenue target of Rs 25593.04 million. While the MCC-Preventive collected Rs 18686.98 million in terms of customs duty against the target of Rs 17180.15 million which is 109 percent increase in the revenue collection.
The MCC-Hyderabad collected an amount of Rs 2601.48 million customs duty against its set target of Rs 5491.27 million which is just 47 percent collection. The MCC-Export collected Rs 4746.07 million against the set target of Rs 5464.48 million which is 87 percent of the target.
The Exports (Port Muhammad Bin Qasim) contributed 92 percent i.e. Rs 3791.93 million against its set target of Rs 4124.49 million. The MCC-Quetta collected Rs 1402.74 million against the target of Rs 979.70 million i.e. 143 percent increase in the collection.
The MCC-Gwadar collected an amount of Rs 1654.94 million against its set target of Rs 601.93 million which is 275 percent increase in the revenue collection.
MCC-Exports Port Qasim collected Rs 3791.93m against Rs 4124.49m target for fiscal year 2014-15. MCC-Exports Preventive collected Rs 18686.98m against target of Rs 17180.15 million.
The MCC Export missed revenue target as it collected Rs 4746.10 million against the set target of Rs 5664.48 million under head of customs duty, sales tax, federal excise duty, and withholding tax.
