CBR achieves revenue target for July-Oct

ISLAMABAD—Central Board of Revenue (CBR) has achieved the revenue target set for July-October 2006. The provisional tax collection during July-October, 2006 indicates a cumulative growth of 18%. The net collection during the period has been Rs. 237.4 billion against Rs. 201.2 billion in the same period last year.
The revenue on account of direct taxes has so far shown an increase of 34.3% by collecting Rs. 79.6 billion against Rs. 59.3 billion. The sales tax collection has reached Rs. 98.4 billion against Rs. 86.6 billion, indicating a growth of 13.6%. Whereas the growth in revenue collection at sales tax import stage has been 7.1%, the domestic sales tax collection has increased by 24.1%. The tax receipts on account of excise duties has recorded an increase of 28.8%. The collection has been Rs. 21.7 billion against Rs. 16.9 billion in the corresponding period last year. Finally, revenue from customs duties has decreased by 2.3% over the corresponding period of last year. The tax collection been Rs. 37.6 billion against Rs. 38.5 billion last year.
The provisional collection of federal taxes for October, 2006 is Rs. 49.6 billion, which is expected to increase further in coming days when provisional figures are finalized.—Online