Wednesday , December 19 2018
Breaking News
Home / Karachi / Customs collects Rs651b in 6 months with 17% growth
Customs collects Rs651b in 6 months with 17% growth

Customs collects Rs651b in 6 months with 17% growth

KARACHI: The Pakistan Customs collected Rs651 billion during the last six months (July-December), showing 17 percent growth as against collection of Rs559 billion last year.

The Customs’ South region overall collected Rs551 billion revenue in the period under review, reflecting 14 percent growth over the previous year as the department had collected Rs482 billion in the same period during July-December 2016-17.

The effective duty-tax ratio at Customs also improved to 33 percent this year as revenue of Rs651 billion was collected on dutiable imports of Rs1960 billion compared with ratio of 31 percent last year when a revenue of Rs559 billion was collected on dutiable imports of Rs1820 billion.

Customs Duty collection by Pakistan Customs stood at Rs188 billion during July-December 2017-18 compared with Rs163 billion same period last year. Customs duty collection by Pakistan Customs South region surged and stood at Rs160 billion in July-December FY18 as compared with the collection of Rs140 billion last year.

Overall sales tax collection at import stage stood Rs358 billion during the period under review as against Rs302 billion in the same months last year. Customs Appraisement South’s collection of sales tax at import stage stood at Rs300 billion as against Rs260 billion collected last year in the similar period.

Income tax collected by Pakistan Customs during (July-December FY18) stood at Rs100 billion as compared with Rs90 billion last year. Appraisement South collected Income tax of Rs87 billion in the period as against Rs79 billion collected in the same period last year.

Highest revenue collection in terms of Customs duty came from MCC Appraisement East, which collected Rs51 billion followed by MCC Port Qasim collecting Rs50 billion and MCC Appraisement West collecting Rs39 billion in July-December FY18.