ISLAMABAD: The Air Freight Unit (AFU) Islamabad generated Rs454.92million of all duties and taxes on imports from 1st to 28th of September Financial Year (FY) 2017-18.
According to details explained by sources of Model Customs Collectorate (MCC) Islamabad that, after revising the Free Trade Agreement (FTA), the performance of the AFU Islamabad has improved. During above said period, the AFU earned Rs131.67million as Customs Duty (CD).
Sources told CT that the AFU received Rs211.73million of Sales Tax (ST) and the AFU did Rs111.52million as Income Tax (IT) during the 1st to 28th of September FY17-18.
The AFU Islamabad collected Rs726.039million of all duties and taxes on imports during August FY2017-18. During the Financial Year 2017-18, the government has revised the Free Trade Agreement (FTA) with different countries including China therefore the growth of revenue from imports under all the tax heads has increased significantly.
During the month of August FY2017-18, the AFU Islamabad got Rs197.827million as Customs Duty (CD) which is extraordinarily high against the collection during the last Fiscal Years of 2016-17 and FY15-16.
Sources further told Customs Today that, during the month of August FY17-18, the AFU Islamabad earned Rs346.379million of Sales Tax while it did Rs181.833million as Income Tax.
Sources said the AFU will surpass its assigned revenue collection for 1st Quarter FY17-18 under the head of IT and ST, but the CD target will be hard to meet.
