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FBR collects Rs71.21b as regulatory duty in last fiscal year

FBR collects Rs71.21b as regulatory duty in last fiscal year

ISLAMABAD: The customs authorities have collected Rs71.21 billion as regulatory duty during fiscal year 2018/2019, said Federal Board of Revenue (FBR) in a report released recently.

The collection of regulatory duty increased by 12 percent to Rs71.21 billion in fiscal year 2018/2019 as compared with Rs63.58 billion in the preceding fiscal year.

The share of regulatory duty in total customs collection in fiscal year 2018/2019 was 10.36 percent. This ratio was at 10.45 percent to the total customs duty in fiscal year 2017/2018.

The total collection of customs duty was Rs685.57 billion in fiscal year 2018/2019 as compared with Rs608.37 billion in the preceding fiscal year, showing increase of 12.7 percent.

The collection of customs duty also includes warehouse surcharge, regulatory duty, export development surcharge and export duties.

The customs authorities collected Rs1.06 billion as warehouse surcharge in fiscal year 2018/2019 as compared with Rs853 million.

An amount of Rs7.69 billion as export development surcharge during fiscal year 2018/2019 as compared with Rs6.13 billion in the preceding fiscal year.

Besides, the authorities also collected Rs816 million as export duties during fiscal year 2018/2019 as compared with Rs859 million in the fiscal year 2017/2018.