ISLAMABAD: The Customs North Region generated surplus revenue collection of Rs740.11million under the head of All Duties and Taxes during July Financial Year FY2017-18 with the growth of 40% against the corresponding period of July FY2016-17. The North Region, comprising Customs Collectorate of Islamabad, Peshawar, Samberial and Gilgit-Baltistan, received Rs2451.01million of all taxes during July FY17-18 while it did Rs1710.90million of collection under the same head during the last financial year of July FY2016-17. The Customs North Region also showed surplus revenue collection with a surplus growth of 30% under the head of Customs Duty (CD). The North generated surplus amount of Rs151.00million during July FY2017-18 against the same period of corresponding period of July FY16-17 while it did surplus amount of Rs384.00million of Sales Tax (ST) and got surplus amount of Rs23.00million of Federal Excises Duty (FED). The North got Rs217million surplus of With Holding Tax (WHT) during July FY17-18 against the same period of corresponding year FY16-17.
This was stated by Customs Collector North Sarwat Tahira Habib while talking with Customs Today during an exclusive interview.
She told CT that the improvement of infrastructure and trade facilitation at the Model Customs Collectorate (MCC) Khyber Pakhtoon Khawa (KPK) and MCC Gilgit-Baltistan (GB) are the first priorities of the Chief Collector North as upgrade of port facilities at GB and development of Traders E-Facilitation Cell at GB are important to getting financial benefits through the China Pakistan Economic Corridor (CPEC).
Giving details of the performance of July FY2017-18, she said that, during July, the all collectorates, working under the umbrella of Chief Collector North, showed stupendous performance about the collection of All Duties and Taxes during said period.
She further told CT that the MCC Islamabad reflected 20.6 percent growth during July FY17-18 against the same period of last FY16-17. She added that the MCC Islamabad received Rs960.55million of all taxes against the collection of Rs796.27million during corresponding July FY16-17. She added that, during July FY17-18, the MCC Peshawar showed 56.08% of highest take among all the Collectorates of North. The MCC Peshawar earned Rs1459.18million of all taxes during July FY17-18 against the collection of Rs934.92million during last July FY16-17, she explained.
Sarwat Tahira Habib said that, during July FY17-18, the Sambrial showed 0.89% of growth against the same period of previous financial year. During said period, the MCC Sambrial paid Rs-225.78million of rebates of all taxes against the rebates paid in Rs-223.79million during the same period of yesteryear.
Talking about the GB, she told Customs Today that, during July FY17-18, the GB generated all duties and taxes with a growth of 26.32% against the same period of last financial year. During July FY17-18, the GB got Rs257.06million of all duties and taxes while GB did Rs203.50million of all taxes during July FY2016-17.
According to her details, North Region earned 35.82% of surplus ST during July FY17-18 against the same period of corresponding period while it did surplus revenue with 41.53% of WHT during July FY17-18 against the same period of last financial year. The North earned 47.05% of surplus growth of ST during July FY17-18 against the same period of corresponding period. She further said the North received 66.21% of surplus revenue growth during July FY17-18 against the same period of last financial year 2016-17.
