Just in:  

You are here: Home»Market Data»Stocks & Bonds»Provisional figures: July-November tax collection stands at Rs 806 billion

Provisional figures: July-November tax collection stands at Rs 806 billion

The Federal Board of Revenue has provisionally collected Rs 806 billion during July-November (2013-14) against the target of Rs 841 billion, reflecting a shortfall of Rs 35 billion. Sources told Business Recorder on Saturday that the provisional collection has crossed Rs 806 billion during first five months of 2013-14 against Rs 686 billion during the corresponding period of last fiscal, showing an increase of Rs 120 billion.

A comparison of tax collection during July-November (2013-14) when compared with the corresponding period of 2012-13, reflects growth of 21 percent. The net revenue collection during November 2013 stood at Rs 169.333 billion against target of Rs 167 billion, reflecting a growth of Rs 2.333 billion. The monthly target of revenue collection has been achieved by the FBR. The provisional collection in November 2013 was Rs 169.333 billion against Rs 139.708 billion during the same period of previous fiscal, reflecting a growth of 21 percent.

Break-up of gross revenue collection in November 2013 revealed that the income tax collection stood at Rs 57.326 billion, sales tax Rs 84.789 billion, FED Rs 13.142 billion and customs duty Rs 18.842 billion. Total gross revenue collection stood at Rs 174.099 billion during the period. After payment of refund to the tune of Rs 4.766 billion, the net total collection amounted to Rs 169.333 billion in November 2013.

The revenue collection would improve on compilation of final figures in coming days. The date for filing of income tax returns has been further extended to December 15, 2013 and amount to be deposited with returns till November 2013 would now come in December 2013. So far the FBR has received as many as 154,756 income tax returns through electronic system. It is expected that the amount to be deposited along with the returns by the extended date of December 15 would further increase revenue collection, sources said.

Officials said that the FBR would be able to maintain 21 percent growth in revenue collection in 2013-14 when compared with previous fiscal during the remaining period of 2013-14.

Sources were of the view that the FBR has to improve its enforcement actions and monitoring activities to improve revenue collection in second quarter (October-December) 2013-14 to chase the ambitious revenue collection target of Rs 2,475 billion by the end of current fiscal year. Besides other measures, the recent selection of cases for audit has to be pursued for early completion of audit.

Copyright Business Recorder, 2013


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln