FBR’s collection up by 10.2% with receipt of Rs.509.7 bln during July to January 2008 ISLAMABAD, Feb 1 (APP): Federal Board of Revenue (FBR) managed to collect Rs.509.7 billion during seven months (July-January) of the current fiscal 2007-08 showing a growth of 10.2 percent over the revenue receipt of Rs.462.7 billion achieved during the correspondent period of the last year.
According to FBR sources the revenue collection of Rs. 72.4 billion has been achieved during the month of January 2008 surpassing the set target of Rs. 67.2 billion and showing an increase of Rs. 5.2 billion in the specified period.
The revenue collection also registered an increase of Rs. 20.2 billion over the revenue of Rs. 52.2 billion achieved in the corresponding period of the last year i.e. 2007.
The provisional tax collection for January 2008 has shown an overall growth of 38.7%.
The revenue on account of direct taxes has risen sharply from Rs. 12.5 billion last January to Rs. 24.7 billion in January 2008 reflecting a growth of 98.2%.
The sales tax collection of Rs. 28.4 billion has been achieved against recovery of Rs. 24.8 billion realised in January 2007 showing a growth of 14.4%. The receipt of sales tax on import stage has increased by 27.8% whereas the increase in the domestic component is 0.4%.
The collection of federal excise duties is expanded by 30%, showing an increase from Rs. 5.3 billion to Rs. 6.9 billion during the corresponding period of the last year.
A remarkable growth of 29.1% has also been recorded in the collection of customs duties where the net receipts have reached to Rs. 12.4 billion against Rs.9.6 billion in the month of January last year.
The provisional figures of January are expected to increase further during the next few days.
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