ISLAMABAD: The Customs Collectorate assigned revenue collection target of Rs200 million under the head of customs duty for the month of November.
Additional Deputy Collector Khawaja Khuram Naeem told Customs Today that AFU did not cope with its target during the month of October in financial year 2016-17 due to long holidays and political instability in the Capital.
He said that the Collectorate has been assigned revenue target to AFU for month of October FY2016-17 as customs duty amounting to Rs.185 million and sales tax under value of Rs.225 million
He said that during first quarter of financial year the performance of AFU was satisfactory, adding that Collectorate was given target for customs duty (CD) for first quarter under value of Rs.444 million and AFU achieved above said assigned target with collection of customs duty amounting to Rs.458 millions.
He said that the Collectorate was given the target for sales tax to AFU under value of Rs686 million and AFU surpasses its given target with collection amounting Rs739 million.
He adding that during the first quarter of financial year 2016-17 the Air Freight Unit did not meet its set target of withholding tax due to Free Trade Agreement (FTA) with China, Pakistan has given duty free market access to China mainly on machinery, organic, and inorganic chemicals, fruits and vegetables, medicines and other raw materials for various industries including engineering sector, intermediary goods for engineering sectors, etc the additional collector said.
