KARACHI, Feb 18 (APP): Federal Revenue Board’s Model Customs Collectorate has realized an increase of Rs 27,792 million from Custom Duty, Sales Tax, Federal Excise Duty, Withholding Tax and
Petroleum products surcharge during the current fiscal year (July 15-
Jan 16).
In current fiscal year the Model Customs Collectorate (Preventive) collected Rs 16923.73 mln customs duty from July-15 to January 2016, an increase of 128.60.The custom duty collected in previous fiscal year was Rs 8077.25 mln.
In the same way sales tax collection also increased in the current fiscal year as compared to previous year Rs 51608.34 mln were collected during the current fiscal year while in previous year Rs 45335.93 were received in respect of sales tax- an increase of 102.16.
The Federal Excise Duty (F.E.D) during the FY-2016 the amount collected was Rs 2956.76 mln whereas during the same period in previous fiscal year the F.E.D collected was Rs 1369.39, an increase of 196.82.
The Withholding tax (W.H.Tax) collected during the current FY was Rs 7344.57 mln and during previous FY, Rs 6692.96 mln were collected- an increase of 97.29 percent.
The Model Customs Collectorate (Preventive) during the current fiscal year collected Rs 32411.85 in respect of POL Development Surcharge, while Rs 21977.31 were received in previous year, an increase of 47.47.
The Collector of Model Customs Collectorate (Preventive), S.M. Tariq Huda while talking to APP here said that during the 7 months current fiscal year 2016, the collectorate has realized Rs 111,245.25 mln while during the same period of previous fiscal year Rs 83,452.84 mln were received.
He said that Pakistan Custom is making all out efforts to increase revenue collection and to collect more than the fixed target so that the national exchequer could be increased.
