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Appraisement-East collects Rs 106.415b up to Dec 31

Appraisement-East collects Rs 106.415b up to Dec 31

KARACHI: Model Customs Collectorate of Appraisement-East collected Rs 106.415 billion in Customs Duty, Sales Tax and Withholding Tax in the first half of the current fiscal year ended on December 31, 2014, thus surpassing the overall target by Rs 5.476 billion or five percent.

The Collectorate collected Rs 17,747 million during December 2014. This included Rs 5,043 million in Customs Duty; Rs 10,199 million in Sales Tax and Rs 2,965 million under the head of Withholding Tax. Rs 5,094 million Customs Duty was collected during December 2014 surpassed the monthly target. Rs 10,199 million collected under the head of Sales tax surpassed the monthly target of Rs 8,495 million which depicted an increase of 21 percent. Rs 2,965 million was collected under Withholding Tax surpassed the monthly target of Rs 2,454 million which depicted 21 percent increase.

During July-December 2014 the Collectorate collected Rs 29,387 million which surpassed the Rs 28,955 million target by 1.49 percent. Similarly, Rs 58,357 million was collected in Sales tax which depicted 7.07 percent increase over the target of Rs 54,504 million. Rs 18,671 million was collected in Withholding Tax which showed 6.81 percent over Rs 17,480 million. Rs 29,387 million CD collected during the first half of this fiscal year depicted a 28.73 percent increase over the same period in 2013 while Rs 58,357 million ST and Rs 18,671 million collected during July-December 2014 depicted 21.2 percent and 16.4 percent increase over July-December 2013.

Highly-placed sources in MCC of Appraisement-East attributed the surpassing of monthly and half year targets to a number of measures. Improved taxpayers facilitation service, expeditious clearance, clearance of stuck-up cargoes at port, auctioning of goods through transparent process, focused post clearance audit and “eagle’s eye” monitoring by R&D (Research and Development) department of the Collectorate were some of the primary measures that sources said helped the Collectorate surpass the monthly and the half year targets.