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Multan Customs collects Rs8866.284m tax revenue during August

Multan Customs collects Rs8866.284m tax revenue during August

MULTAN: The Customs Collectorate collected Rs8866.284 million in wake of duty and taxes during August of the Fiscal Year 2016-17.

According to the details, the department collected Rs780.800 million under the head of customs duty against the assigned target of Rs431.320 million during the month of August. Multan Customs made collection of Rs422.950 million customs duties during said period of the last year 2016-17.The Customs Collectorate has posted 84% growth in the collection of Customs duty as compared to corresponding month of fiscal year 2016-17. It generated Rs1025.290 million as customs duty during first two months of the existing financial year 2017-18.

The Collectorate of Multan Customs collected Rs.2751.473 million in wake of sales tax in August against assigned target of Rs1181.600 million. Multan Customs has collected almost 83% excess revenue during the August. The Customs Collectorate has collected Rs.5217.019 million in terms of sales tax during the first two month of the economic year.

According to the officials, the revenue collection is directly linked with clearance of consignments from Multan Dry Port and it put positive impact on the revenue collection.

In wake of federal excise duty, it collected Rs0.033 million against the assigned revenue of Rs15.92 million during August 2017-18 whereas collection of the federal excise duty (FED) stood at Rs15.585 million in the first two months of the economic year 2017-18.

The Multan Customs collected Rs.7.681 million under the head of income tax in August 2017-18, while it collected Rs25.621 million during the same period of the last year. Multan Customs made collection of Rs53.572 million in the July and August of existing fiscal year 2017-18.

It generated Rs2551.308 million from petroleum development levies and almost Rs.1.233 million as additional sales taxes during August. Collector Saud Imran Ahmad has implemented effective strategy for the accomplishment of assigned revenue task.

However, Multan Customs has surpassed the assigned revenue collection task by generating 87 % excess revenue during month of August.