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Multan Customs collects Rs4.32b customs duty till 15th Feb of FY2016-17

Multan Customs collects Rs4.32b customs duty till 15th Feb of FY2016-17

MULTAN: The Model of Customs Collectorate Multan collected Rs4.32 billion customs duty against the assigned target of Rs4.75 billion up to 15th February of current Financial Year 2016-17.

Sources told Customs Today that the Collectorate of the Multan Customs has attained 91% customs duty revenue target under the supervision of Collector Sarfraz Ahmad Warraich during the first seven and half months of the current fiscal year 2016-17.

Multan Customs has collected Rs13.11 billion sales tax up to 15th February. Sources said that sales tax collection has been reduced in the Multan collectorate due to dropping import clearances at Multan Dry Port in the last few months of the existing economic year 2016-17. The sale taxes collection depends upon the clearances of High Speed Diesel consignments. As Import of the Multan Customs comprises of 97% import clearances of High Speed Diesel and sale taxes collection has been witnessing decline in the collection due to less clearances of High Speed Diesel in the current fiscal year.

The Federal Board of Revenue has also decreased the tariff rate on the import clearances of High Speed Diesel during the current fiscal year and quantity of the import clearances at Multan Dry Port is also decreasing due to international prices of High Speed Diesel.

Collectorate of Multan Customs has collected Rs7415.553 million petroleum development levy from clearance of High Speed Diesel during the current fiscal year so far.

Multan Customs has collected Rs121.939 million under the head of federal excise duty (FED) against the set target of Rs108.867 million during the fiscal year 2016-17 so far.

Similarly, Model of Customs Collectorate Multan has collected Rs138.309 million against the set target of Rs423 million under the head of withholding tax (WHT) during the economic year 2016-17 so far.

Collector Sarfraz Ahmad Warraich told Customs Today that Multan Customs is making serious efforts for accomplishing assigned revenue target of the fiscal year 2016-17 and they have also taken all measures to meet the assigned targets.

He told that Collectorate has devised effective strategy to achieve the uphill revenue collection task for the fiscal year. The Collectorate will utilize all its available resources to tap new revenue for achieving their goals and Multan Customs is also focusing Air Freight Unit (AFU) in this regard.