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FBR assigns Rs 1,107m revenue target to Islamabad Customs

FBR assigns Rs 1,107m revenue target to Islamabad Customs

ISLAMABAD: The Federal Board of Revenue (FBR) has assigned revenue collection target of Rs 1,107 million to the Customs Collectorate for October 2016-17.

Collector Dr Arslan told Customs Today that morale of the staff is high as the Customs Islamabad has already exceeded its first quarter’s revenue target. He said that MCC will use all its resources to achieve the target for October 2016-17.

He said that the Collectorate would use administrative measures to achieve the target, adding that the customs had already distributed targets to all of its departments, Air Freight Unit, Islamabad Dry port, Preventive and the Car Cell.

He said that Federal Board of Revenue has assigned target for customs duty amounting Rs.436 million, sales tax amounting to Rs.396 million, federal excise duty (FED)   Rs.7 million and WHT under value of Rs.268 million.

He said that Federal Excise Duty target may not achieve because beverage have stopped due to cold weather, but all the other revenue targets as customs duty, sales tax and withholding tax will be not only achieved but MCC will exceeds.

He said that during July, 2016 to September, 2016 Customs Collectorate, Islamabad collected Rs. 1120 million as customs duty against the 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.