Over 100pc rise in collection during 22 days of November

RECORDER REPORT

ISLAMABAD: The Federal Board of Revenue has shown over 100 percent increase in the monthly revenue collection during 22 days of November 2011 as compared to the corresponding period of last year.

According to the collection data compiled here on Tuesday, the collection up to November 22 was about Rs 70 billion, against Rs 34.856 billion of November 2010, reflecting an increase of 100.7 percent.

The data showed that the FBR had provisionally collected Rs 574.340 billion during July-November of 2011-12 against Rs 431.899 billion of the corresponding period of last year, reflecting an increase of 33 percent.  The provisional data of November 2011 has been compiled up to November 22, 2011. The net sales tax collection amounted to Rs 278.568 billion during five months of 2011-12 against Rs 193.172 billion in the same period of last fiscal year, reflecting an increase of 44.2 percent.

Break-up of revenue collection showed that the collection in Inland Revenue including direct taxes, sales tax and federal excise duty (FED) stood at Rs 508.741 billion against Rs 375.350 billion last year, reflecting an increase of 35.5 percent.  The monthly collection up to November 22 was around Rs 70 billion against Rs 34.856 billion, reflecting an increase of over 100 percent.

Direct taxes collection stood at Rs 185.916 billion during five months (July-November 22) of 2011-12 against Rs 144.223 billion in the corresponding period of last year, reflecting an increase of 28.9 percent.

Sales tax collection was Rs 278.568 billion during the period under review against Rs 193.172 billion, showing increase of 44.2 percent. Sales tax collection at the import stage was Rs 156.399 billion during July-November 22 (2011-12) against Rs 101.708 billion, showing an improvement of 53.8 percent. Sales tax collection on domestic consumption was Rs 122.169 billion during the period under review against Rs 91.464 billion, reflecting an increase of 33.6 percent.

The collection of federal excise duty (FED) was Rs 44.257 billion against Rs 37.955 billion, reflecting an increase of 16.6 percent. The FED collection at the import stage was Rs 3.081 billion against Rs 5.744 billion, showing a decrease of 46.4 percent. The FED collection on domestic consumption was Rs 41.176 billion against Rs 32.211 billion, showing an improvement of 27.8 percent. The collection of customs duty was Rs 65.599 billion against Rs 56.549 billion, showing an increase of 33 percent.