KARACHI: With significant reduction in country’s exports, the Model Customs Collectorate (MCC) of Export has too missed the revenue target as it collected Rs 4.746 billion against the set target of Rs 5.664 billion for the fiscal year 2014-15, it is learnt.
The MCC Exports is supposed to collect customs duty, sales tax, federal excise duty, and withholding tax. However, the shortfall in revenue collection is what the officials opined because of reduction of overall exports due to various reasons.
The sources told Customs Today that the MCC Export had collected Rs 730 million in the month of June 2015 and the officials tried their best to match the target but in vain.
The MCC Exports collected zero federal excise duty (FED) in the first month of the fiscal year 2014-15 with 100 percent difference, as the Collectorate had collected Rs 0.07 million in share of FED in the same period in last year.
The Collectorate managed to collect Rs 0.16 million in share of WHT in the month of July 2014 with the decrease of 95 percent in the comparison of the revenue collection for the same period in the last year.
