FBR surpasses revenue target of Rs332.5b for Jul-Nov
By Asad Cheema

ISLAMABAD—The Federal Board of Revenue (FBR) has surpassed the revenue target of Rs.332.5 billion set for July-November of the current financial year by collecting Rs.333.6 billion so far. “The net collection during the time under review has been Rs.333.6 billion against Rs.296.3 billion collected during the corresponding period of previous financial year,” said a data released by the Federal Board of Revenue.
The provisional tax collection indicated a cumulative growth of 12.6 per cent. The revenue on account of direct taxes has maintained steady growth, as Rs. 110 billion have been collected during the time under review against Rs. 96.5 billion collected last year, showing a growth of 14 per cent. The sales tax collection has reached Rs.142.1 billion against Rs.125.7 billion collection of last year, indicating growth of 13 per cent.
Similarly, the growth in sales tax (import stage) has been recorded as 12.4 per cent while the domestic sales tax collection has increased by 13.9 per cent by going up from Rs. 53.2 billion to Rs. 60.6 billion. The tax receipts on account of federal excise duties have recorded a significant increase of 24.1 per cent by touching Rs.31 billion against Rs.25 billion during the last financial year. Rs.50.6 billion have been collected from customs duties during the period, showing 2.9 per cent growth when compared to the same period of last year.
The net collection of Rs.62.1 billion during November 2007 is expected to increase further when provisional figures are finalized. The tax-wise collection during November 2007 has been as, Direct Taxes, Rs. 15.3 billion; Sales Tax, Rs. 27.8 billion; Federal Excise, Rs. 7.6 billion and Customs Duties, Rs. 11.4 billion.