ISLAMABAD: Pakistan Customs has surpassed its target by collecting Rs444 billion in the first eight months of the current financial year i.e., July-February 2018-19.
The collection target of customs duties for the first eight months was Rs436 billion, 21pc higher than the target for the same period of the previous financial year.
An amount of Rs518 billion sales tax was collected at the import stage against the collection of Rs521 billion in the previous financial year. The decline in the collection of sales tax was mainly attributed to a decrease in the quantity and value of petroleum products.
Moreover, the customs wing collected Rs152 billion withholding tax, which is 6pc higher than the previous year. Federal Excise Duty (FED) collection at the import stage during the first eight months of FY19 registered a significant growth of 23pc at Rs9.1 billion, as compared to Rs7.4 billion registered in the previous financial year.