FBR provisional collection stands at Rs534.043 billion

RECORDER REPORT

ISLAMABAD: The Federal Board of Revenue has provisionally collected Rs 534.043 billion during first five months (July-November) of 2011-12 against Rs 424.923 billion in the corresponding period last fiscal, reflecting an increase of 25.7 percent.

According to the revenue collection data compiled here on Wednesday, the FBR has collected Rs 534.043 billion during July-November 16, 2011. The provisional data of November 2011 has been compiled up to November 16, 2011. The net sales tax collection amounted to Rs 257.330 billion during first five months of 2011-2012 against Rs 190.323 billion in the same period last fiscal, reflecting an increase of 35.2 percent. Break-up of revenue collection revealed that the collection in Inland Revenue including direct taxes, sales tax and federal excise duty (FED) stood at Rs 471.697 billion against Rs 369.286 billion in the same period last fiscal, reflecting an increase of 27.7 percent.

The monthly revenue collection up to Nov. 16 was Rs 29.192 billion against Rs 27.880 billion, reflecting an increase of 4.7 percent.

The FBR data further disclosed that the collection of domestic taxes including sales tax, direct taxes and the FED showed an exceptional increase of 27.7 percent during the period under review when compared with previous fiscal.

Direct taxes collection stood at Rs 176.218 billion during first five months (July-Nov 16) of 2011-2012 against Rs 141.121 billion in the corresponding period last fiscal, reflecting an increase of 24.9 percent.

Sales tax collection amounted to Rs 257.330 billion during the period under review against Rs 190.323 billion in the same period last fiscal, showing an increase of 35.2 percent. Sales tax collection at the import stage was Rs 149.469 billion during July-Nov 16 2011-12 against Rs 98.863 billion, showing an improvement of 51.2 percent. Sales tax collection on domestic consumption was Rs 107.861 billion during the period under review against Rs 91.460 billion in the same period last fiscal, reflecting an increase of 17.9 percent.

The collection of Federal Excise Duty (FED) was Rs 38.149 billion during first five months (July-Nov 16) of 2011-12 against Rs 37.842 billion in the corresponding period last fiscal, reflecting an increase of 0.8 percent. The FED collection at the import stage was Rs 2.950 billion during this period against Rs 5.631 billion in the same period last fiscal, depicting a decrease of 47.6 percent. The FED collection on domestic consumption was Rs 35.199 billion during July-Nov 16 2011-12 against Rs 32.211 billion in the same period last fiscal, showing an improvement of 9.3 percent.

The collection of customs duty was Rs 62.346 billion during first five months of 2011-12 against Rs 55.637 billion in the same period last fiscal, showing an increase of 12.1 percent.