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Customs Preventive surpasses target, collects over Rs160b during FY17-18

Customs Preventive surpasses target, collects over Rs160b during FY17-18

KARACHI: Collectorate of Customs (Preventive), Karachi has surpassed the revenue collection target and collected Rs160.04 billion against the assigned target of Rs158.868 billion during the financial year 2017-18.

As compared to the total collection during FY2016-17, the collection witnessed a growth of 16.65%. In the head of Customs duty, the collection during 2017-18 remained Rs. 51.06 billion against a target of Rs.50.65 billion, exceeding the target by Rs 402 million whereas, compared to previous year, the Customs duty collection surged by 23.66%.

Similarly, the sales tax collection target of Rs. 91.23 billion was also surpassed by Rs 2.261 billion with a collection of Rs 93.6 billion. This was an increase of 16.15% against the collection during the financial year.

The Collectorate also managed to exceed the Custom duty target of Rs.5.185 billion for the month of June by Rs. 644 million. The collection during June 2018 registered an increase 12.41% over the corresponding period of the previous year.

Besides outstanding performance in revenue collection and enforcement activities, the Collectorate also established a modern trade Facilitation Enquiry Point at Custom House, Karachi. The Enquiry point has been established in pursuance of country’s commitments under the Trade Facilitation Agreement (TFA).