FBR HAS SURPASSED THE REVENUE TARGET SET FOR FEBRUARY 2008.
1.FBR has surpassed the revenue target of Rs. 68.2 billion assigned for February 2008.
2. The provisional tax collection for February 2008 has achieved an overall growth of 30.4%. The net collection during February 2008 has been Rs. 68.3 billion against Rs. 52.4 billion during February 2007. The revenue on account of direct taxes has risen sharply from Rs. 13.8 billion last February to Rs. 22.1 billion in February 2008 reflecting a growth of 60.2%. The sales tax collection has been Rs. 27.2 billion as against Rs. 23.7 billion of last February showing a growth of 14.7%. While sales tax on import stage has decreased by 0.6% due to zero-rating of crude oil, the increase in the domestic component is 35.4%. The collection of federal excise duties has increased by 40.8%, increasing from Rs. 5.6 billion to Rs. 7.9 billion. Finally, a healthy growth of 19.9% has also been recorded in the collection of customs duties where the net receipts have reached Rs. 11.2 billion against Rs. 9.3 billion of last February.
3. The July – February collection of FBR now stands at Rs. 579.7 billion as against Rs. 515.1 billion of corresponding period of last year showing a growth of 12.5%.
4. The provisional figures of February are expected to increase further during the next few days