FBR moot to chalk out revenue collection strategy

The Federal Board of Revenue (FFBR) has called a conference of collectors of customs on Wednesday (tomorrow) to chalk out a comprehensive strategy for meeting the annual revenue collection target for 2016-17. Sources told Business Recorder here on Monday that the FBR has directed all collectors of customs, Model Customs Collectorates (MCCs) to give presentation on the performance during the first seven months (July-January) 2016-17.
The conference would review the collection of customs duty and other taxes at the import stage. The conference would also discuss measures to check revenue leakage regarding sales tax, withholding tax and customs duty at the import stage for improving collection through clearance of imported consignments.
The conference would also review the impact of budgetary measures taken in 2016-17. Besides, duty collection from auction and demands created would be analysed, the sources said. The collectors of customs are expected to present analysis on two broad components of imports ie dutiable imports and duty-free imports. The base of customs duty is dutiable imports.
Sources said that the chief collectors and collectors of customs would also share measures to check the misdeclarations of goods at the import stage. It would be ensured that the tariff classification under Pakistan Customs Tariff (PCT) headings and description of goods under HS Codes should be done properly.
The FBR is expected to direct the collector of customs to check loopholes at the import stage to ensure proper collection of customs duty on the items cleared from ports. Tax authorities also directed to take measures for accurate assessment of imported goods which would improve customs duty collection in the remaining period of 2016-17.
The sources said that the best teams in the form of chief collectors and collectors have been deputed at Model Customs Collectorates. The FBR is expecting best results from them.
The sources said that progress on the crackdown against illegal money changers at the airports would also be reviewed.
The conference would also discuss in detail the measures to curb smuggling of dollars and gold. In recent past, some individuals were caught at the airports while smuggling foreign currency out of the country as well as bringing gold into Pakistan.