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Customs Collectorate surpasses target by collecting Rs 411.57m as customs duty during October

Customs Collectorate surpasses target by collecting Rs 411.57m as customs duty during October

ISLAMABAD: The Customs Collectorate Islamabad exceeded the set target during October 2016-17 by collecting customs duty amounting to Rs 411.57 million.

Talking to Customs Today, Collector Dr Arslan Subuctgeen said that Customs exceeded customs duty collection target of Rs 407 million by collecting Rs 411.57 million as compared to Rs 378 million collected during the corresponding period of the last year.

He said that Customs Collectorate faced a minor shortfall in other duty/taxes during October 16-17 and over all collection for all taxes comes to approximately 85 percent against the given target.

He said that the Collectorate have used all of its administrative measures to achieve the target, adding that the customs had already collected duty and taxes by all of its departments like Air Freight Unit (AFU), Islamabad Dry Port, Customs Preventive and the Auction Cell.

He said that Federal Board of Revenue was assigned target for customs duty amounting to Rs.407 million, sales tax amounting to Rs.396 million, federal excise duty (FED)   Rs.7 million and WHT under value of Rs.268 million which slightly faced short fall.

He said that during July, 2016 to September, 2016 Customs Collectorate, Islamabad collected Rs. 1120 million as customs duty against the assigned target of Rs. 1119 million. The Collectorate also collected Rs. 1130 million sales tax against the target of Rs1017 million.

The withholding tax collection of the Collectorate remained Rs 594 million against the target of Rs. 633 million, overall revenue collection of the Collectorate during 1st quarter of FY 2016-17 was Rs. 2916 million against the assigned target of Rs. 2829 million