Customs surpasses target by collecting Rs444 billion
Moreover, customs wing has collected Rs152 billion WHT, 6 percent higher than previous fiscal year.
(Web Desk) - Pakistan Customs has surpassed its target by collecting Rs444 billion in first eight months of the current financial year i.e. July-February 2018-19.
Target for collection of customs duty for first eight months was 436 billion rupees, 21 percent higher than the target for the same period of the previous financial year.
In addition, an amount of Rs518 billion as a form of sales tax has been collected at import stage against collection of Rs521 billion as compared to the previous financial year.
The decline in collection of sales tax is mainly due to decrease in quantity and value of petroleum products.
Moreover, customs wing has collected Rs152 billion withholding tax (WHT), 6 percent higher than previous year.
Furthermore, Federal Excise Duty (FED) collection at import stage during first eight months of the current financial year has registered significant growth of 23 percent amounting to Rs9.1 billion in the current financial year as compared to Rs7.4 billion in the previous financial year.
