ISLAMABAD: The Federal Excise Duty (FED) collection from the airlines showed zero percent growth during first half (July-December) of 2019-20 as compared to the same period of 2018-19.
According to the FBR data, the FBR has collected Rs 18,043 million from air travel during first six months of 2019-20 against Rs 18,048 million during the corresponding period of 2018-19, reflecting a decrease of Rs 5 million. However, there is a zero percent growth in FED collection from the airlines industry during the period under review.
The FBR said the FED constituted around 9.1 percent of indirect taxes and 6.0 percent of the total FBR taxes. The collection from federal excise duties has registered a growth of 22.2 percent during H1:2019-20 as compared to the corresponding period last year. The net revenue stood at Rs 125.1 billion during first half of 2019-20 against Rs 102.3 billion during the corresponding period last year.
The half yearly revenue target has been achieved to the extent of 83.9 percent. In absolute terms around Rs 22.7 billion higher amount has been collected as compared to the amount collected in the corresponding period last year. The share of six major revenue spinners of FED has been around 84.1 percent during July-December, 2019-20. Cement is the top most revenue generating source of FED and it alone contributed 28.6 percent of the collection of FED. Other major items include; cigarettes, air travel, cement, concentrates, aerated waters and oil exploration.
The composition of FED during July-December, 2019-20 revealed that the collection from cement grew by 29.8 percent, cigarettes 8.2 percent, air travel no growth, and oil exploration 8.7 percent, but aerated water grew by around 98.5 percent, FBR added.
Copyright Business Recorder, 2020
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