CBR collects Rs 74.13b net revenue in current fiscal year

ISLAMABAD—The Central Board of Revenue (CBR) has realized a net revenue collection of Rs. 74.13 billion during July-August, 2005, indicating an overall growth of 14.3% when compared with Rs. 64.863 billion achieved in the corresponding period of last fiscal.
The net revenue collection in August 2005 stands at Rs. 40.028 billion with the break-up of Rs. 21.1 billion as Sales Tax, Rs. 8.4 billion as Customs, Rs. 2.5 billion as Federal Excise and Rs. 8.0 billion as Direct Taxes, according to the provisional revenue figures released by the CBR here on Wednesday.
The CBR expects that the collection will increase further when the revenue figures for the month of August, 2005 are finalized in the next few days.
The tax-wise details confirm that the Direct Tax revenue has increased by 11.8% during this period reaching Rs. 14.4 billion against Rs. 12.9 billion last year.
An overall growth of 19.3% has been observed in Sales tax. While the import stage Sales Tax receipts have increased by 7.6%, the Sales Tax (Domestic) has increased by a healthy margin of 47.6% over the corresponding period of last year. The overall Sales Tax collection, during the first two months has, thus, reached Rs. 36.8 billion.
The collection on account of Customs duties has gone upto Rs. 16.8 billion against Rs. 14.1 billion during past year, indicating a growth of 18.9%. Finally, the collection under the head of Federal Excise has reached Rs. 6.1 billion.—APP