MULTAN: The Collectorate of Customs Multan has collected Rs 62,578.987 million during the economic year 20115-16.
The Federal Board of Revenue (FBR) has assigned annual revenue collection target of Rs45,439.560 million for the period from July to June 2015-16. The customs collectorate has witnessed significant boost in the revenue collection during the fiscal year 2015-16. The overall revenue collection made by the customs collectorate in the twelve months (July to June 2015-16) has surged 38 percent from assigned revenue target. The customs collectorate Multan has collected Rs 62,578.987 million during the fiscal year 2015-16.
The collectorate has collected customs duty of Rs7627.194 million against the target of Rs12872.640 million during the fiscal year 2015-16. The customs duties collected by customs collectorate were from import stage of goods cleared through Multan Dry Port during the financial year 2015-16.The customs collectorate Multan failed to achieve the revenue task of customs duty assigned by the Federal Board of Revenue during the whole fiscal year 2015-16.
Multan customs have collected the 59 percent revenue target of the customs duties due to decline in international prices of the petroleum products and also fall in the clearing consignments of the HSD during the fiscal year 2015-16. Earlier, customs Multan had collected customs duty of Rs9200.139 million against the assigned target of Rs13492 .850 million during the corresponding economic year of 2014-15.The customs collectorate Multan have observed 9 percent drop off revenue collection in the customs duty during the fiscal year 2015-16.
During the economic year 2015-16, customs collectorate Multan collected sales tax of Rs40493.056 million against the set target of Rs31880.300 million. The customs collectorate Multan have outshined with 27 percent excess sales tax collection as they collected overall 127 percent of the set mark of sales taxes during the fiscal year of 2015-16. The customs collectorate Multan had collected Rs28208.403 million sales taxes during the corresponding fiscal year 2014-15.
The customs collectorate Multan has collected federal excise duty of Rs180.512 million against the set target of Rs242.830 million during the fiscal year 2015-16.The customs collectorat Multan have collected 74 percent of the assigned revenue collection target during the fiscal year 2015-16. While the Multan customs had collected Rs218.590 million in the corresponding fiscal year.
The customs collectorate has collected income tax of Rs384.568 million against the assigned target of Rs443.490 million during the fiscal year 2015-16. Almost 87 percent of the income tax achieved during the economic year 2015-16. The customs collectorate Multan had collected Rs393.463 million during the corresponding fiscal .
Multan customs have collected Rs13871.410 million from the petroleum development levy and Rs22.247 million from additional sales taxes during the economic year 2015-16. The customs collectorate Multan has made history by collecting record revenue of Rs62578.987 million during the whole economic year 2015-16.
