MULTAN: The Model of Customs Collectorate Multan missed its revenue collection target for the month of January due to less import clearances from Multan Dry Port.
The Federal Board of Revenue has assigned revenue collection target of Rs4354 million to Multan Customs under the head of customs duty, sales taxes, federal excise duty (FED) and Withholding Tax (WHT).
The Model of Customs Collectorate Multan has made collection of Rs2698.405 million against Rs4354 million collected during the month of January against the allotted target of Federal Board of Revenue.
Multan Customs has collected Rs555.581 million customs duties for the duration of January against the assigned target of Rs.678 million. The Model of Customs Collectorate Multan has attained almost 82 revenue collection target of customs duty. On the other hand, Multan Customs has collected Rs548.008 million during the matching period of the previous fiscal 2015-16.
The Model of Customs Collectorate Multan has made revenue collection of Rs1286.352 million sales tax against the given task of Rs3560 million for the month of January of current fiscal year 2016-17.The Collect orate has collected only 36 % revenue collection of sales taxes in the month of January 2016-17. Multan Collectorate collected Rs.2358.587 million during January of the corresponding economic year 2015-16.
Multan Customs has gathered Rs7.395 million against Rs.24 million tasks for federal excise duty during month of January. The collectorate of Multan Customs has collected Rs16.544 million against Rs92 million under the head of income tax throughout January.
Multan Customs has also collected Petroleum Development Levy of Rs831.312 million and additional sales tax of Rs.1.222 million from clearances of High Speed Diesel and other import items throughout the month of January.
Meanwhile, Multan Customs failed to collect assigned revenue target for the month of January due to decline in the import clearances at Multan Dry Port after imposition of Infrastructure development cess on import goods. Some of the major factors for the decline in the revenue collection are also decline in the clearances of the High Speed Diesel (HSD) due to increase in the domestic production.
