ISLAMABAD: The Model Customs Collectorate (MCC) Islamabad has been assigned an extra revenue collection target of Rs289.07million of all duties and taxes for 1st Quarter (July to September) Financial Year (FY) 2017-18 against the same period of corresponding FY16-17.
The Collectorate was allocated Rs3118.07million under all the heads for July to September FY17-18 while it was earmarked Rs2829.00million under the same head for the same period of FY16-17.
According to details explained by Deputy Collector MCC Headquarters Islamabad Shahid Jan that a small extra amount of revenue has been assigned to Collectorate of Islamabad during the 1st Q FY17-18 against the 1st Q of previous FY16-17.
He said that, during 1st Q of FY17-18, the MCC Islamabad has been allocated Rs1268.89 million as Customs Duty (CD), Rs1135.81million of Sales Tax (ST), Rs78.63million as Federal Excise Duty (FED) whereas Rs634.74million of Income Tax (IT). The Islamabad Collectorate was assigned the collection target under all the tax heads for 1st Q of FY16-17. He added that Rs1119.00million was allocated under the head of CD, Rs1017.00million under the head of ST, Rs60.00million under the head of FED while Rs633.00million of revenue target was earmarked under the head of IT.
Deputy Collector Headquarters Shahid Jan is optimistic that the Collectorate of Islamabad will chase the allocated collection target for 1st Q under all the heads. The collectorate has been assigned Rs149.89 extra revenue target for the 1st Q of corresponding period of FY16-17 under the head of CD, Rs118.81million of ST, Rs18.63million as FED and Rs1.74million of IT.
