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Islamabad Customs posts 110 percent growth ahead of collection duration target

Islamabad Customs posts 110 percent growth ahead of collection duration target

ISLAMABAD: The Model Customs Collectorate (MCC) Islamabad achieved 110% revenue growth under all the heads of duties and taxes during July to 14th of April FY17-18 which is ahead of allocated annual (July to June) FY17-18 revenue collection target.

Zulfikar Ali Chaudhry, Collector MCC Islamabad, told Customs Today that Islamabad Customs showed exceptional performance during the initial nine and a half months under all the heads against an assigned revenue collection target of the same heads. Talking about the annual revenue performance, he explained that the MCC achieved 84% as CD, 150% of Sales Tax (ST), 96% as Income Tax (IT) and 109% of Federal Excise Duty (FED) up to 14th of April FY17-18 against an earmarked annual revenue collection target under the said heads.
The Collector MCC Islamabad told the correspondent that the collectorate received Rs17045.44million of revenue under all the heads from July to 14th of April FY17-18 against an assigned proportional target of Rs11938.58million while it has been allocated Rs15559.23million annual revenue target under all the heads.
He said that the MCC has been assigned Rs6845.85million under the head of CD for FY17-18 whereas a proportional assigned target under the same head by 14th of April FY17-18 was Rs5086.75million while the collectorate generated Rs5757.81million against an earmarked proportional revenue target upto 14th of April. He added that the collectorate obtained 113.19% growth under the head of CD against an assigned proportional revenue collection target.
Zulfikar Ali further explained that the MCC Islamabad has been allocated Rs5276.84million annual revenue collection target under the head of ST whereas it was earmarked a proportional target under the same head by 14th of April amounting to Rs4094.61million while it earned Rs7911.83million against an assigned proportional revenue collection upto 14th of April FY17-18. In this way, he added that the MCC achieved 193.23% increase during July to 14th of April FY17-18 against an earmarked proportional revenue target under the head of ST.
He told CT that the MCC Islamabad was assigned Rs2923.90million annual target of IT whereas Rs2317.77million was assigned as proportional target by 14th of April while it received Rs2811.45million under the same head against an allocated proportional target. The MCC collected 121.30% hike against an earmarked proportional target. The MCC generated 142.78% revenue collection under the head of FED against an assigned proportional revenue target till April 14, FY17-18.