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MCC Export skips revenue target in July

MCC Export skips revenue target in July

KARACHI: The Model Customs Collectorate (MCC) of Export has failed to collect desirable revenue in July, first month of current fiscal year 2014-15.
The FBR sources informed Customs Today that the MCC Exports had also missed revenue targets during the last fiscal year 2013-14 and now after claiming new efforts it missed the first month target of current fiscal year.

The MCC Exports has managed to collect revenue of Rs195.57 million in the month of July 2014 in share of Customs Duty (CD), Sales Tax, Federal Excise Duty (FED) and Withholding Tax (WHT) which was reported a massive shortfall of Rs 96.15 million as compared to the revenue collection for the same period in the FY 2013-14. The MCC Exports was collected Rs 291.72 million in the month of July 2013.

As per statistics, the Exports Collectorate has collected an amount of Rs 195.09 million of Customs Duty (CD) in July 2014 with a decrease of 31 per cent, as the Collectorate has collected Rs 284.46 million for the same period in the last year.

The Collectorate has managed to collect only Rs 0.32 million in share of Sales Tax with the decrease of 92 per cent as it had collected an amount of Rs 3.84 million in share of Sales Tax in the same period in the year 2013.

The MCC Exports collected zero Federal Excise Duty (FED) in the first month of the Fiscal Year 2014-15 with 100 per cent difference, as the Collectorate had collected Rs 0.07million in share of FED in the same period in last year.
The Collectorate has only managed to collect Rs 0.16 million in share of WHT in the month of July 2014 with the decrease of 95 per cent in the comparison of the revenue collection for the same period in the last year. The Collectorate had collected Rs 3.35 million in share of WHT in July 2013.
It may be mentioned here that the FBR has set revenue target of Rs 4169.56 million for the Fiscal Year 2014-15 in share of Customs Duty, Sales Tax, FED and WHT.
The MCC-Export will have to collect Rs 4103.14 million in share of CD, Rs 56.23 million in share of Sales Tax, Rs 3.57 million in share of FED and Rs 6.62 million in share of withholding tax.
The sources informed this scribe that the Collectorate of MCC-Export was found far behind of its set revenue target due to absence of proper tabulations in DTRE form and the exporters were taking full advantage of that flaw made by the MCC-Export in the last Fiscal Year.
It is worth mentioning here that the Customs Today in its previous edition had disclosed that the MCC-Export did not paying any heed towards the rectification of DTRE tabulation form, which caused colossal loss to the national exchequer in term of revenue collection.
It is pertinent to mention here that the FBR had already replaced Collector MCC-Export Dr Wasif Memon with the Director Customs Intelligence and Investigation-Port Qasim Dr Manzoor Ahmed Memon.