FBR has set Rs 69.5 billion target in first quarter of fiscal year 2014-15, however collectorate managed to collect Rs 67 billion
KARACHI: The Model Customs Collectorate of Port Muhammad Bin Qasim has slightly fallen short of its set revenue target in the first quarter – July, August and September – of the fiscal year 2014-15.
According to details, the Federal Board of Revenue (FBR) has set a revenue target of Rs 69.5 billion for MCC-Port Muhammad Bin Qasim in the first quarter of fiscal year 2014-15. However; the collectorate has managed to collect Rs 67 billion with a slight difference of Rs 2.42 billion.
According to the given statistics, the collectorate has collected Rs 5.6 billion against a set target of Rs 4.36 billion customs duty in September.
The collectorate has collected Rs 16 billion revenue in share of sales tax in September against a set target of Rs 14.9 billion.
The Port Qasim collectorate has collected revenue of Rs 286.29 million in share of federal excise duty (FED) in September against a set target of Rs 194.48 million.
The collectorate has managed to collect Rs 3.3 billion income tax against a set target of Rs 2.6 billion.
Similarly, the collectorate has collected Rs 5.1 billion customs duty against a target of Rs 4.7 billion in August. The collectorate has collected Rs 16.97 billion sales tax in August against a set target of Rs 1.58 billion.
The MCC-Port Qasim has collected Rs 279.13 million FED in August against a target of Rs 186.17 million. The collectorate has collected Rs 3.25 billion income tax against a set target of Rs 2.8 billion.
