MULTAN: Collectorate of Customs has collected revenue of Rs56851.284 million during the whole economic year 2018-19.
According to the details, the Federal Board of Revenue has assigned annual revenue collection target of Rs49318 million under the heads of customs duty, sales tax, federal excise duty and income tax to Multan Customs for the period of July to June 2018-19.
The Collectorate has made collection of customs duty of Rs15495.362 million against the set target of Rs14875 million from July to June duration of the fiscal year 2018-19.
The Collectorate has surpassed the customs duty assigned revenue collection task of the Federal Board of Revenue due to dynamic strategy of Collector Ambreen Ahmad Tarar during the entire fiscal year 2018-19.
The Collectorate posted 4 growth in the collection of customs duty in fiscal year 2018-19 and it collected 28 percent excess revenue collection of customs duty as compared to fiscal year 2018-19.
Multan Customs has collected customs duty from clearance of petroleum products from PARCO in the fiscal year 2018-19. Earlier, MCC Multan had collected Rs 12089.50 million under the head of customs duty against the assigned target of Rs10336.30 million during the corresponding economic year of 2017-18.
The Collectorate collected Rs21896.51 million against the assigned task of Rs33993 million in wake of sales tax during whole fiscal year 2018-19. Multan Customs faced shortfall in sales tax revenue collection and accomplished 64 percent set target during said period.
While the Collectorate collected sales tax Rs29576.70 million against assigned target of Rs27728.95 million during the corresponding year 2017-18. Sales tax collection of Multan Customs witnessed decline due to less clearances of HSD in the previous year.
Multan Customs has collected Rs187.14 million in the course of (July-June) 2018-19 against set task of Rs191 million. On the other hand Multan Customs collected federal excise duty (FED) of Rs174.50 million against the set target of Rs226.40 million during the corresponding fiscal year 2017-18.
The Collectorate collected Rs276.19 million against the set target of Rs259 million under the head of income tax during corresponding fiscal year 2018-19. The Collectorate was able to collect income tax of Rs 236.60 million against Rs239.990 million during the corresponding fiscal year 2017-18.
Multan Customs has also collected of Rs 18996.08 million in wake of Petroleum Development Levy during the entire fiscal year 2018-19.
However, Multan Customs attained the revenue task of collection due to effective measures taken by Collectorate.
