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FBR assigns revenue collection target to Islamabad Customs for FY19-20

FBR assigns revenue collection target to Islamabad Customs for FY19-20

ISLAMABAD: FBR has allocated yearly revenue collection target of Rs 29912 million under all heads for FY2019-20 to the MCC Islamabad.

According to details provided to Customs Today, the Model Customs Collectorate Islamabad is allocated fresh revenue collection target for Financial Year 2019-20 with extra amount of Rs 8355 million under all heads, as during FY2018-19 the Collectorate was assigned Rs 21557 million target under all heads of taxes including CD (customs duty), ST (sales tax), IT (income tax) and FED (federal excise duty).

The Collectorate has been assigned Rs 11300 million of CD for the FY2019-20 while it was allocated Rs 7705 million for corresponding FY2018-19 which showed that the Collectorate has been allocated Rs 3595 million extra amount against same previous period.

It noted that Collectorate has been assigned revenue target amounting Rs 12446 million under head of ST for FY19-20 while it was assigned Rs 9041 million under same head during last FY, with an extra Rs 3405 million ST target this year.

The MCC Islamabad has been assigned Rs 5190 million under head of IT for FY19-20 while it was assigned Rs 4111 million under same head for FY18-19, adding that the Collectorate is assigned Rs 975 million under head of FED for FY19-20 whereas it was allocated Rs 700 million under same head for identical period of last financial year.