July-September (2015-16): Rs 57 billion shortfall in revenue collection

The Federal Board of Revenue (FBR) has provisionally collected Rs 589 billion during first quarter of July-September (2015-16) against projection of Rs 646 billion, reflecting a shortfall of Rs 57 billion. According to the FBR's data compiled here on Wednesday, the provisional revenue collection during first quarter of July-September (2015-16) stood at Rs 589 billion against Rs 541 billion in the corresponding period of 2014-15, reflecting a growth of 9 percent.

The revenue collection would further increase on compilation of final figures for the period under review. The FBR has provisionally collected Rs 257 billion for September 2015 against Rs 228 billion last year, showing a growth of 13 percent. The break-up of tax-wise targets for first quarter of July-September (2015-16) revealed that target of direct taxes is Rs 245 billion, sales tax Rs 295 billion, FED Rs 38 billion and target for customs duty has been set at Rs 68 billion.

Copyright Business Recorder, 2015