Birgunj Customs falls 13pc short of revenue target
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PARSA, JUL 18 -
Birgunj Customs Office (BCO), one of the country’s largest customs revenue contributors, has failed to meet its target for the fiscal 2010-11. The office’s collection fell 13 percent short of target last fiscal year. BCO collected Rs 45.5 billion against the target of Rs 51.9 billion.
Until last year, BCO’s collection used to exceed the target. In 2009-10, it had collected Rs 44.37 billion, whereas the target stood at Rs 42.5.
The office failed to achieve its target under almost all headings. Under customs duty, it was able to collect just Rs 15.87 billion—80 percent of the target of Rs 19.66 billion. Similarly, it collected Rs 20.67 billion—94 percent of its Value Added Tax target of Rs 21.88 billion. As far as the excise duty collection is concerned, BCO achieved just 76 percent of the target. Under excise duty heading, it collected Rs 7.91 billion, against the target of Rs 10.37 billion.
It was the combination of two factors—a whopping increment in revenue target and decline of import—that contributed to the decline in revenue collection. “The customs was given an ambitious target last fiscal year,” said Lawanya Bhakal, chief of BCO. “Unlike in previous years when the target used to be increased by Rs 5 billion annually, our target for 2010-11 was increased by Rs 14 billion.”
The last fiscal year saw a heavy decline in import of automobiles, petroleum products and construction materials which used to contribute the most to BCO’s revenue collection. The office, which had matched its target until the first half of the last fiscal year, saw a decline in its revenue collection following the budget presentation in November, 2010. With the last year’s budget increasing the excise duty on automobiles along with the registration charge, import of vehicles started to decline. Revenue from the import of double-cab pickup, trucks and mini trucks and bus and truck chassis declined by 8 percent, 33 percent, 26 percent, respectively.
With development spending taking a beating, import of construction materials slowed down, hitting revenue. According to BCO, revenue from the import of MS billet, machinery parts and loader-excavator fell 38 percent, 94 percent and 48 percent, respectively.
Posted on: 2011-07-18 08:11
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