ISLAMABAD: Under the supervision of Collector Dr Arslan Subuctageen, the Model Customs Collectorate achieved revenue target of Rs 15.723 billion assigned for first 11 month of current fiscal year 2015-16 i.e. up to May, 2016.
The Federal Board of Revenue (FBR) has assigned target of Rs 16.167 billion to Islamabad Customs for the fiscal year, while the collectorate is just required to collect remaining Rs 443.99 million during running month, June in order to achieve the target.
Officials said that the collectorate was striving hard to achieve the revenue target, adding that recovery process has also been expedited in this regard. They further said that auctions of confiscated items and vehicles were also held to realise the annual target. They added that stern actions will be taken against the tax evaders in the region.
Under the head of customs duty, the Islamabad Customs collected Rs 5.757 billion up to May, 2016 against the annual revenue target was Rs 5.845 billion. The collectorate will have to collect Rs 88.14 million in June to achieve the target under the head of customs duty.
The set target in wake of sales tax is Rs 6.788 billion for the year, while the collection of sales tax stood at Rs 7.151 billion up to May by surpassing the revenue target by Rs 363.5 million a month before the ending of fiscal year.
Under the head of withholding tax, the FBR assigned target of Rs 3.139 billion to the customs for the year. The collectorate collected Rs 2.445 billion up to May, 2016 and it is required revenue of Rs 649.48 million to achieve the target under this head.
The Islamabad Customs collected Rs 369.95 million as federal excise duty during first 11 months of current fiscal year i.e. May, 2016. It will have to collect Rs 24.87 million in June to meet the target of Rs 394.82 million.
