MULTAN: The Customs Collectorate has achieved the assigned customs duty collection target of Rs8705.42 million for the month of June in the on-going fiscal year 2016-17.
Sources told Customs Today, the Collectorate of the Multan Customs collected Rs8705.42 million customs duties in the first 22 days of the Month of June. The Federal Board of Revenue has assigned Customs duty revenue collection target of Rs.8705.42 million to the Multan Customs Collectorate for the month of June.
The Customs Collectorate Multan has attained the strenuous revenue collection task of the Customs duty during in the first 22 days of the June due to their extra efforts. Multan Customs is facing serious challenge of fall in their clearance of import consignments from Dry Port after the imposition of Punjab Infrastructure Cess but the Collectorate has managed to complete their task magnificently in the first twenty two days of June.
The Customs Collectorate Multan has made collection of sales taxes of Rs1930.442 million in the first twenty two days of June against the set monthly target of Rs.6676 million. Multan Customs is facing huge short fall in the revenue collection of sales tax due to multiple factors including decrease in the import clearances at the Multan Dry Port and decrease in the tax ratio of sales taxes on High Speed Diesel (HSD). The collection of sales tax is also reducing day by day due to drop in the international prices of HSD products.
Multan Customs has collected Rs.12.002 million under the head of federal excise duty (FED) in the first 22 days of the month of June against the given revenue task of Rs11 million for the whole month of June.
The Customs Collectorate Multan has collected Rs5.229 million of Withholding Taxes (WHT) against the assigned task of Rs103 million for the month of June in the first 22 days of June of the on-going financial year 2016-17.
The Customs Collectorate Multan has accelerated the revenue collection in the last month of economic year to achieve collection task assigned by Federal Board of Revenue. Sources told Customs Today that Multan Customs is chasing the challenging revenue collection task and Collectorate is confident to achieve their assigned revenue collection task for the month of June along with current fiscal year 2016-17 assignment.
