ISLAMABAD: The Model Customs Collectorate Gilgit-Baltistan (GB) collected Rs 392.35 million showing better performance during August 2016.
Talking to Customs Today, GB Customs Collector Ali Raza said that revenue collection during first two months of the fiscal year 2016-17 stood at Rs 595.85 million and termed it a better collection under the heads of duty and taxes.
The improvement in revenue collection was brought by plugging various sources of revenue leakage, he said, adding that the customs was collecting sales tax, custom duty, advance income tax, federal excise duty and other taxes at proper rates set by the Federal Board of Revenue (FBR).
He said that meetings, which were held around couple of months ago with Urumqi Customs director general in Islamabad, also brought positive results that helped achieving the record revenue during the said period. The collector also hailed the performance of officials in revenue collection.
The collectorate collected Rs 203.495 million in shape of customs duty, redemption fine, and sales tax including other taxes during July 2016, he said, adding that only Rs 12.783, including Rs 6.812 million as customs duty, Rs 30,000 as redemption fine, Rs 3.894 as sales tax and Rs 584,000 as additional sales tax were collected on July 29, 2016.
He said that the FBR has not assigned any revenue target for financial year 2016-17, adding that the target will be given in next few days. “We hope to surpass the revenue collection target in running fiscal year,” he concluded.
