Revenue collection increases by 27.4pc in first quarter

ISLAMABAD: The Federal Board of Revenue (FBR) has realized a total provisional collection of Rs373.819 billion during the first quarter of July-September 2011-12 showing an overall increase of 27.4 percent as compared to same period of last fiscal year.

According to the provisional figures released by FBR here on Tuesday during the period from July to September 2011-12, Rs373.819 billion were collected in terms of domestic taxes as compare to Rs293.496 billion realized during the same period of last financial year.

FBR has collected Rs331.312 billion in terms of domestic taxes including Direct tax, Sale tax and Federal Excise Duty during the first three months of current financial year showing increase of 29.3 percent as compared to same period of last year.

Rs122.189 billion were collected in terms of Direct Taxes, which registered an increase of 27.7 percent where as Rs180.415 billion was collected in under the head of sales tax including sale tax on import and sale tax on domestic, it said.

The FED during the period under review also registered an increase of 6.7 percent as Rs28.708 billion was collected as compared to 26.9 billion of same period last year.

The custom duty collection was recorded at Rs42.507 billion which was up by 14.4 percent as compared to the first quarter of the last year.

The custom collection during July to September 2010-11 was registered at Rs37.165 billion.

During the month of September 2011, the domestic taxes posted an increased of 24.6 percent as Rs145.07 billion was collected as compared to Rs. 116.408 billion of September 2010.

Custom duties during the last month also increased by 15.5 percent during last month of current financial year as compared to September 2010.

Copyright APP (Associated Press of Pakistan), 2011