LAHORE: The Federal Board of Revenue has assigned the target of Rs 7,258 million from customs duty for the financial year 2014-15 to Model Customs Collectorate Preventive.
The Collectorate has been asked to collect 26 percent more custom duty than that of the collection during the FY 2013-14. The experts said that the FBR targets collection was directly linked with the inflation rate which fluctuated to 11 percent to date.
Though the collection targets have been assigned to th Regional Customs Offices with long delay, it is said that the collectorates have themselves collected customs duty above targets during July and August this fiscal year.
According to details, the MCC preventive has been asked to hit Customs Duty collection target of Rs 454 million in the month of July FY 2014-15 while the Collectorate will have to achieve customs duty collection target of Rs 441 million in August. The collectorate has been asked to collect customs duty of Rs 570 million in September and Rs 634 million in October. Similarly, the collectorate will be achieving customs duty of Rs 635 million in November and it will have to collect custom duty of Rs 539 million in December in financial year 2014-15.
The collectorate has been given a customs duty collection target of Rs 565 million in January while during February it has been asked to achieve Rs 628 million. Furthermore, the collectorate will be collecting customs duty of Rs 561 million in March and it will collect Rs 624 million in April.
In May, the FBR asked the collectorate to collect customs duty of Rs656 million and in June Rs 895, to make a total of Rs 7258 million. The sources said that the collectorate which is currently headed by Customs Collector Mukaram Jaa is determined to achieve the target. They said that periodical meeting in order to achieve the target were being held by the Collectorate.
