KARACHI: The Customs Appraisement South Region has achieved a robust growth of 20 percent over the revenue collection of the financial year 2015-16.
This was announced in a statement issued by Customs Appraisement South here on Friday. It said that this includes growth in customs duty of 24 percent, sales tax 19 percent, income tax 13 percent and FED 17 percent. The region led by Chief Collector Abdul Rashid Shaikh, comprises of Model Customs Collectorates of East, West and Port Qasim surpassed the figure of one trillion rupees by collecting Rs. 1,004 billion in the second week of June with 15 more days still to go until the end of current financial year.
This contributes about a third of the revenue target of FBR which is 3.621 trillion for the current year, the statement added. It said that the feat was achieved by the South Region through concerted efforts by improving the quality of assessments, controlling the `mis-use of exemptions’, maintaining transparency and facilitation of genuine trade and tax payers.
The growth in taxes shows the increased efficiency in collection by Appraisement South by controlling revenue leakages and taking preventive measures against revenue loss.