Import of cars: H1 FED collection grows 408.3pc to over Rs9.428bn YoY

ISLAMABAD: The Federal Board of Revenue (FBR) has collected Federal Excise Duty (FED) of over Rs9.428 billion on the import of motor cars during July-December (2021-22) against Rs1.8 billion during same period of 2020-21, reflecting a growth of 408.3 percent.

The FBR latest data revealed that the top revenue spinner of the FED remained cigarettes during the period under review. The FBR has collected Rs52.731 billion from cigarettes during the first half of 2021-22 against Rs44 billion during the same period of 2020-21, reflecting an increase of 18.1 percent.

The FBR has termed this FED collection from cigarettes as “unsatisfactory” during 2021-22, the FBR report said. The FED collection from cement amounted to Rs35 billion during July-December (2021-22) against Rs37 billion in the first half of 2020-21, showing a decrease of 6.5 percent.

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The FED collection from beverages stood at Rs18 billion during July-December (2021-22) against Rs16 billion in the first half of 2020-21, reflecting an increase of 12.8 percent. The FBR has collected Rs10 billion from travel by air during July-December (2021-22) against Rs4 billion during same period of 2020-21, reflecting an increase of 109.4 percent.

The FED collection from natural gas amounted to Rs4.483 billion during July-December (2021-22) against Rs4.885 billion during first six months of 2020-21, depicting a decrease of 8.2 percent.

Copyright Business Recorder, 2022