MULTAN: The Model Customs Collectorate Multan has collected Rs1290.254million in the wake of Petroleum Development Levy for the month of previous January.
The Petroleum Development Levy is a federal tax and is collected by Customs Department on the clearance of High Speed Diesel in Pakistan. The Collectorate of Multan Customs receives almost 97 percent of its collection through the clearance of High Speed Diesel and other petroleum products from the PARCO oil refinery of Mahmood Kot.
The Collectorate of Multan Customs collected all taxes from oil marketing companies including Customs Duty, Sales Taxes, Federal Excise Duty, Income taxes, additional sales taxes, Petroleum Development Levy from oil marketing companies at the time of ex-bonding clearance from Multan Dry Port.
The Multan Customs earned Rs9160.254million from the Petroleum Development Levy during the first seven months of economic year 2017-18. The collectorate has observed a boost in the collection of Petroleum Development Levy in the first seven months of current fiscal year due to extra demand of petroleum products in the country.
The Petroleum Development Levy will be deposited in the account of the OGRA after its collection on the direction of the federal government and the FBR.
