MULTAN: Collectorate of Customs collected revenue of Rs34473.688 million against assigned task of Rs45358 million during first eleven months (July-May) of current economic year 2018-19.
The Collectorate was assigned different revenue collection targets for customs duty (CD), sales tax (ST), federal excise duty (FED) and withholding tax (WHT) for the on-going year 2018-19.
The Federal Board of Revenue had assigned revenue collection target of Rs12520 million under the head of customs duty from (July- May) 2018-19 while Multan Customs collected Rs13574.520 million under the head of customs duty so far.
Multan Customs accomplished the customs duty task in first eleven months of the fiscal year 2018-19 and posted 8 percent excess growth in the collection of customs duty. Multan Customs was able to achieve collection of Rs71.9 million under the head of customs duty during first two months of the current monetary year 2018-19.
Chief Collector Customs Central Region Zeba Hai Azhar allocated customs duty and other collection targets after assessment of trade situation in South Punjab regarding imports clearances through Multan Dry Port.
The FBR had assigned revenue collection target of Rs32424 million to Multan Customs under the head of sales tax for the first eleven months (July-May) of the existing fiscal year 2018-19.
On the other hand, Multan Customs has collected Rs.20448.968 million in wake of sales taxes for the period of July to May 2018-19.Multan Customs facing shortfall in the Sales tax Collection due to less clearance of High Speed Diesel from Multan Dry Port.
The Collectorate was assigned collection target of Rs174 million under the head of federal excise duty (FED) from July to May and the Collectorate has poised Rs.174.668 million from collection of federal excise duty (FED) during July to May 2018-19. The Collectorate attained 100% allocated revenue task during July to May 2018-19.
Multan Customs was allocated revenue collection target of Rs240 million under the head of withholding tax (WHT) for first eleven months of economic year 2018-19, while it has collected Rs256.927 million as withholding tax in said period. Multan Customs has also collected additional sales taxes of Rs.18.875 million in the first eleven months of fiscal year 2018-19.
Multan Customs Collectorate has accomplished all major revenue tasks under the supervision of Collector Ambreen Ahmad Tarar due to effective collection strategy.