Revenue collection grows by 12.5% during eight months
By Asad Cheema

ISLAMABAD—The revenue collection during the first eight months of the current financial year grew by 12.5 percent, according to provisional figures released by Federal Board of Revenue (FBR). The revenue collection from July to February, 2008 was recorded at Rs.579.7 billion as against Rs.515.1 billion during the corresponding period of the last financial year, the figures revealed.
FBR achieved growth of 30.4 per cent in tax collection in the month of February as the net collection during the month was registered at Rs.68.3 billion against Rs. 52.4 billion during corresponding period of the last financial year.
The revenue on account of direct taxes has risen sharply to Rs. 22.1 billion during the period under review as compared to Rs. 13.8 billion in February 2007, showing growth of 60.2 percent.
The sales tax collection grew by 14.7 percent as it increased from Rs.23.7 billion in February 2007 to Rs. 27.2 billion in the month under review. According to the FBR figures, sales tax on import decreased by 0.6 percent due to zero-rating of crude oil.
The collection of federal excise duties has increased by 40.8 percent, from Rs. 5.6 billion to Rs. 7.9 billion.
Growth of 19.9 percent 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.
According to FBR, the provisional figures of February are expected to increase further during the next few days.