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Customs Islamabad proves lucrative by getting Rs700m surplus revenue

Customs Islamabad proves lucrative by getting Rs700m surplus revenue

ISLAMABAD: The Model Customs Collectorate Islamabad collected Rs700million extra revenue under the head of all taxes during 28 days of December Fiscal Year 2017-18 against an earmarked revenue collection target.

According to details given by Saeed Khan Jadoon, Collector Model Customs Collectorate (MCC) Islamabad, that the Customs Collectorate generated Rs2059million during 28 days of December Financial Year (FY) 2017-18 under the head of all taxes against a monthly allocated revenue target of Rs1300 million. During 28 days of December FY16-17, the collectorate received Rs1140million of revenue under the same head.
The MCC Islamabad exhibited 158% average of growth by earning surplus revenue during initial 28 days of December 17-18 against an earmarked monthly revenue collection target. It demonstrated 113% average of achievement of Customs Duty (CD), 213% as Sales Tax (ST), 149% of Income Tax (IT) and showed 91% average of Federal Excise Duty (FED) during first 28 days of December FY17-18 against a monthly assigned target.
Collector Saeed Jadoon said the collectorate received Rs624million of revenue during 28 days as CD against a monthly allocated target of Rs549million. It received Rs476million of CD during 28 days of December FY16-17.
He told CT that MCC Islamabad got Rs1051million as ST till December 28 against a monthly earmarked revenue collection target of Rs492million. It generated Rs445million under the same head during 28 days of December FY16-17.
During 28 days of current December, the Islamabad Customs received Rs379million of IT against a monthly assigned target while the collectorate did Rs216million under the same head during 28 days of december.
He added that it collected Rs5.09million revenue of FED during 28 days of December FY17-18 against a monthly target of Rs5.59million. The collectorate earned Rs2.28 million under the same head during FY16-17.