KARACHI: Customs South Region collected Rs267 billion during the first three months (July-September) of ongoing fiscal year (2017-18), showing 16 percent growth over the previous year’s collection of Rs230 billion during the same period .
The region’s duty-tax ratio also improved to 34 percent this year as revenue of Rs267 billion was collected on dutiable imports of Rs792 billion as compared with ratio of last year’s 30 percent when a revenue of Rs230 billion was collected on dutiable imports of Rs776 billion.
Overall, Pakistan Customs’ revenue collection in the period under review stood at Rs310 billion, up 18 percent as against collection of Rs263 billion last year.
Customs Duty collection by Pakistan Customs stood at Rs88 billion during July-September 2017-18 compared with Rs77 billion same period last year. Customs duty collection by Pakistan Customs South region surged stood at Rs77 billion in July-September FY18 as compared with the collection of Rs67 billion last year.
Overall sales tax collection at import stage stood Rs173 billion during the period under review as against Rs142 billion in the same months last year. Customs Appraisement South’s collection of sales tax at import stage stood at Rs147 billion as against Rs124 billion collected last year in the similar period.
Income tax collected by Pakistan Customs during (July-September FY18) stood at Rs49 billion as compared with Rs44 billion last year. Appraisement South collected Income tax of Rs43 billion in the period as against Rs39 billion collected in the same period last year.
Highest revenue collection in terms of Customs duty came from Model Customs Collectorate Appraisement East, which collected Rs25 billion followed by Model Customs Collectorate Port Qasim collecting Rs24 billion and Model Customs Collectorate Appraisement West collecting Rs19 billion in July-September FY18. Since South Asia Port has been established and much of the cargo is diverting from Model Customs Collectorate Appraisement West to South Asia Port, collection of Model Customs Collectorate Appraisement West has been lower.
The effective rate of customs duty against dutiable imports at Model Customs Collectorate Port Qasim clocked in at 9 percent in July-September FY18, up from 8 percent recorded in the same period last year.
The effective rate of customs duty against dutiable imports at Model Customs Collectorate Appraisement East recorded at 10.5 percent in July-September FY18, up from 9.5 percent witnessed in the same period last year.
The effective rate of customs duty against dutiable imports at Model Customs Collectorate Appraisement West remained 14 percent in July-September FY18, up from 12 percent recorded in the same period last year.
The effective rate of customs duty against dutiable imports at Model Customs Collectorate Peshawar clocked in at 10 percent in July-September fiscal year 18, flat as against 10 percent recorded in the same period last year.
