The Federal Board of Revenue has not issued final chart of revenue collection figures for 2010-11 despite passage of 27 days of first month of new fiscal year (2011-12). It is learnt here on Wednesday that the FBR revenue collection figures are finalised by 20th of every month.
However, the final revenue collection chart for June 2011 has yet not been issued by the Board despite reconciliation of revenue collection figures between the FBR and the State Bank of Pakistan (SBP). The net revenue collection reconciled figure stood at Rs 1550 billion for 2010-11.
The FBR had placed a chart of revenue collection on July 9, 2011 on its website showing that the provisional revenue collection stood at Rs 1590 billion during July-June (2011-12) against the target of Rs 1588 billion, reflecting an increase of over Rs 2 billion. The month-wise revenue collection chart issued by the FBR for 2011-12 (July 9) revealed that the provisional revenue collection in June 2011 stood at around Rs 278 billion against target of Rs 268 billion, showing an increase of Rs 10 billion.
Following reconciliation of figures between the FBR and the SBP, the FBR has removed the revenue collection chart from its website, which had given figure of Rs 1590 billion for 2010-11. Now, the FBR has posted chart of revenue collection of first three quarters of 2011-2012 on its website. As the first month of current fiscal (2011-12) is going to end in few days, the FBR has to issue the reconciled revenue collection chart with breakup of each tax and refund payment for 2011-12. The final revenue collection chart has yet to be issued by the tax managers after book adjustment from the Accountant General of Pakistan, sources said.
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