FBR SURPASSES JULY-AUGUST REVENUE COLLECTION TARGET
FBR has surpassed the revenue target of Rs 134.8 billion, fixed for July -August 2008-09. The provisional tax collection indicates a cumulative growth of 25.7%. The net collection during the period has been Rs 139.7 billion as against Rs 111.1 billion during the same period of last year. The revenue on account of direct taxes has shown a healthy increase of 29.1% by collecting Rs 37.6 billion against Rs 29.1 billion. The sales tax collection has reached to Rs. 65.4 billion against Rs 55.1 billion, indicating a growth of 18.8%. The tax receipts on account of federal excise have registered a growth of 74.4%, during the period under review. The collection has reached to Rs 14.7 billion as against Rs 8.4 billion in the corresponding period of last year. Finally revenue from Customs duties has increased by 19.0% over the corresponding period of last year. The net collection has been Rs. 22 billion against Rs 18.5 billion last year.
Provisional collection during the month of August 2008 indicates that an amount of Rs 66.9 billion has been collected. Of the total taxes, direct taxes has collected Rs 18.9 billion, sales tax Rs 31.9 billion, federal excise Rs 6.5 billion and Customs duty Rs 9.6 billion.
It may be added that the figures are provisional and likely to increase further at the time of finalization.