KARACHI: The Model Customs Collectorate-MCC Port Qasim has posted a massive shortfall in revenue collection during the 11 months (July-May) of the previous and current fiscal years.
According to available revenue statistics, Port Qasim collected total revenue amounting to Rs 216,179.59 million in share of customs duty, sales tax, income tax and federal excise duty during the time period from July 2013 to May 2014 against the set target of Rs 268,445.75 million, with a shortfall of Rs 52,266.16 million.
During the corresponding period, the collectorate collected Rs 45,349.53 million in share of customs duty against the target of Rs 64,957.96 million with a shortfall of Rs 19,608.43 million. The authority collected Rs 141,461.76 million in share of sales tax against the set target of Rs 169,898.35 million, showing a Rs 28,436.59 million shortfall.
The collectorate collected Rs 27,278.10 million in share of income tax during the 11 months of the last fiscal year against the target of Rs 31,150.71 million, reflecting a Rs 3,872.61 million shortfall. It collected Rs 2,090.21 million in share of federal excise duty against the target of Rs 2,438.73 million, with a shortfall of Rs 348.52 million.
Similarly, the Port Qasim Collectorate also failed to achieve the revenue target set by the Federal Board of Revenue (FBR) during the July-May of the current fiscal year (2014-15).
According to revenue statistics, the collectorate collected Rs 243,841.63 million against the set target of Rs 245,534.94 million with a shortfall of Rs 1,693.31 million. As per the details, the collectorate collected Rs 62,787.20 million against the revenue target of Rs 57,200.30 million in share of customs duty during July-May 2014-15 with a surplus of Rs 5,586.90.
The collectorate managed to collect Rs 147,832.49 million in share of sales tax against the target of Rs 156,394.84 million, registering a shortfall of Rs 8,562.35 million. The revenue authority collected Rs 30,703.87 million in share of income tax against the set target of Rs 29,651.73 million, with an increase of Rs 1,052.14 million.
The collectorate collected revenue to the tune of Rs 2,518.06 million in share of FED during the last 11 months against the set target of Rs 2,288.07 million, with a surplus of Rs 229.99 million.
