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FBR assigns Rs 20.7 billion yearly target for Appraisement Lahore

FBR assigns Rs 20.7 billion yearly target for Appraisement Lahore

LAHORE: The Federal Board of Revenue (FBR) has finally assigned customs duty collection target to Model Customs Collectorate (MCC) Appraisement Lahore for the financial year 2014-15.

According to details, MCC appraisement Lahore has been asked to collect total duty of Rs 20.73 billion for fiscal year 2014-15 which is 26 percent more than the last year target.

The MCC Appraisement has to collect Rs 819.4 million during the first month of FY 2014-15 while during August it has to collect Rs 1.43 billion.

The September target is Rs 1969 million, while in October the collectoarte have to collect Rs 2.02 billion.

Similarly, during November the collectoarte has to collect Rs 2.02 billion while during December 2014 the target is Rs 2.45 billion.

The MCC Appraisement has been asked to recover Rs 2.45 billion in January and Rs 1.32 billion in February respectively for FY 2014-15.

In the same way the collectoarte will have to collect Rs 1.29 billion in March and Rs 1.42 billion during April 2015.

The target for May and June 2014-15 is Rs 1.53 billion and Rs 3.12 billion for fiscal year 2014-15.

A source from collectorate has said that Appraisement will organize monthly meetings to review the progress in collections.

He said that normally FBR assigns targets to all the collectorates countrywide in the first month of the financial year, however, this year the board assigned targets during the third month of FY 2014-15 which may have some negative implications in collection of the targets.