Home »Taxation » Pakistan » MCC Port Qasim collects Rs 50 billion duty in 1Q
MCC Port Qasim Karachi has collected customs duty of Rs 50 billion during the first quarter (July-September) of the current fiscal year against Rs 43 billion collection in the corresponding period of 2018-19, registering a growth of 16.27 percent on year-on-year basis.

This collection is 90% of the assigned proportionate target of Rs 56 billion for the period. MCC Port Qasim collected Rs 17.24 billion customs duty in September 2019 which shows 21.23 percent unprecedented positive growth against collection of Rs 14.22 billion in the corresponding month of the last year. This collection of Rs 17.24 billion reflects 84% achievement of the assigned target for the month.

During the first quarter, the collection of sales tax stood at Rs 95 billion as against Rs 76 billion on year-on-year basis registering 25 percent growth and 10 percent growth against the assigned target of Rs 86 billion for the month. Collection of income tax remained Rs 14.5 billion whereas collection of Federal Excise Duty remained Rs 1.4 billion as against the last year's collection of Rs 1.0 billion and Rs 1.2 billion assigned target which show 40 percent and 16 percent growth respectively during the period under review.

MCC Port Qasim has recorded unprecedented growth of 21 percent in total revenue collection from Rs 134 billion to Rs 162 billion on year-on-year basis during the first quarter of the FY. This collection reflects 100 percent achievement of assigned target of Rs 161 billion for first three months of the FY which is unprecedented amongst customs collectorates of the south region. MCC Port Qasim has, thus, extended significant share in total revenue collection by the FBR during the period.

The sources explained that this tremendous achievement occurred owing to the teamwork under the motivational leadership of Mumtaz Ali Khoso, Collector MCC Port Qasim.

Copyright Business Recorder, 2019


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