South Region: Customs Appraisement brings about 32pc revenue growth

ISLAMABAD: Customs Appraisement (South) Region has achieved an extraordinary growth of 32% in Customs Duty(CD) collection in FY 2021-22 and 41% in total revenue collection including Sales Tax, Federal Excise Duty and Income Tax leviable on imports.

In FY 2021-22, the collection of customs duty by Appraisement South was Rs 741 billion as against Rs 562 billion collected in previous fiscal year. Customs duty target of Rs 706.6 billion assigned to Appraisement South Region was thus exceeded by a significant margin. The total duty and taxes collected by Appraisement South in FY 2021-22 were Rs 2363 billion as against Rs 1672 billion collected in previous financial year.

According to an official, due to enhanced focus on revenue collection through administrative measures, Rs 17 billion was collected by Appraisement South through recovery of arrears and auction of uncleared cargo which is substantially more than the previous year.

The revenue growth is also attributed to the efforts of Pakistan Customs to ensure proper assessment of imported goods and implementation of valuation rulings to curb under-invoicing, he added.

Appraisement South Region handles the imports cleared from Karachi Port and Port Muhammad Bin Qasim and comprises of three collectorates: Collectorate of Customs Appraisement (PMBQ), Collectorate of Customs Appraisement (East) and Collectorate of Customs Appraisement (West), Karachi.

Copyright Business Recorder, 2022