April 5, 2003	Saturday	Safar 2, 1424

KARACHI, April 4: The collectorate of Port Qasim collected Rs33 billion in duty and taxes during first nine months (July-March) of current fiscal, showing an increase of 43 per cent over the collection of Rs23 billion made in the same period last year, official sources said.

The collection of sales tax during the period under review registered the highest growth of 47.5 per cent at a total collection of Rs18.3 billion compared to Rs12.4 billion recorded in the corresponding period last year.

Similarly, there is a quantum jump in collection of customs duty which rose by 35 per cent at Rs13 billion as against a collection of Rs9 billion registered in the same period last year. There is also a surge of 44 per cent in collection of income tax (advance) at import stage.

The revenue collected at the Port Qasim mainly generated by taxes and duties imposed on import of bulk liquid cargo comprising edible RBD palm oil, soyabean oil and raw materials for soap industry, patrol and diesel and its products.

Ever since its establishment, the collectorate at the Port Qasim has played a significant role in updating and modernizing its way of working. Most of the import documents are computer processed and retrieval of data is quick and efficient.

With the assistance of UNCTAD, the Central Board of Revenue from December 2, 2002, has introduced Pakistan Goods Declaration as a pilot project at the Port Qasim. This single document has replaced five different documents like bill of entry, shipping bill, transshipment permit, baggage declaration and safe transportation permit.

The new document is handy and computer friendly and its PGD is playing a significant role in the customs working by ensuring quick processing of documents and expeditious clearance of cargo.