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FBR assigns Rs49318m revenue collection task to Multan Customs

FBR assigns Rs49318m revenue collection task to Multan Customs

MULTAN: The Federal Board of Revenue (FBR) assigned Rs49318 million revenue collection target to Customs Collectorate, Multan for Fiscal Year 2018-19.

Official source told Customs Today, that Customs Collectorate assigned revenue collection target under the heads of customs duty, sales tax, federal excise duty (FED) and withholding tax (WHT).

The Federal Board of Revenue assigned Rs14875 million revenue collection task in wake of customs duty during existing fiscal year 2018-19. On the other hand, Multan Customs assigned Rs10336.30 million revenue collection target under the head of customs duty for the corresponding financial year 2017-I8. Customs duty collection target of Multan Customs Collectorate increased 43.91 % for the current fiscal year as compared to matching period of Fiscal Year 2017-18.

The Customs Collectorate assigned revenue collection task of Rs33994 million under head of sales tax for the economic year 2018-19 while Multan Customs assigned revenue collection task of sales tax Rs27728.95 million for the matching economic year 2017-18. The sales tax collection target of Multan Customs has been enhanced 22.59 % after witnessing jump in the collection of sales taxes from government.

The Federal Board of Revenue has allotted Rs192 million revenue collection task to Multan Customs under the head of federal excise duty (FED) for the current economic year 2018-19. Multan Customs was given revenue collection task of Rs226.40 million under the head of federal excise duty for the previous monetary year 2017-18. The Federal Board of Revenue has reduced 15.64 % collection target of Federal Excise Duty after observing the situation.

The FBR assigned revenue collection target of Rs.260 million in wake of withholding tax to the Multan Customs for the fiscal year 2018-19 while it was given Rs240 million collection task under head of withholding tax in the matching period of fiscal year 2017-18. The Federal Board of Revenue boosted 7.92 % revenue collection task of withholding tax to Multan Customs for the corresponding period of Fiscal Year 2018-19.

However, Federal Board of Revenue enriched overall revenue collection target except federal excise duty for Multan Customs Collectorate.