FBR collected Rs864.999bn tax till February

ISLAMABAD: The Federal Board of Revenue (FBR) has collected tax revenues of Rs.864.999 billion up to February 26, according to provisional figures provided by the board.

The net revenue collections during the month till February 26 are Rs. 94.932 billion. However, the collections will increase when the board compiles the figures of the whole month up to February 28.

Of the total revenue collections of the eight months of the current financial year, the FBR had collected Rs.758.606 billion as domestic taxes and Rs.106.393 billion as customs duty.

Among the domestic taxes, Rs. 304.926 billion were collected as direct taxes and Rs.376.291 billion as sales tax, including Rs.186.769 billion as sales tax on imports and Rs.189.522 billion domestic sales tax.

The board collected Rs.77.389 billion as Federal Excise Duty (FED), including Rs.10.489 as FED imports and Rs.66.900 billion as domestic FED.

On the other hand, revenue of Rs.11.956 billion was collected under the head of customs during the month of February (till 26) whereas the domestic taxes stood at Rs.82.976 billion including direct taxes of Rs.27.189 billion.

The sales tax collected upto February 26 is Rs.47.109 billion which includes Rs.19.108 billion as Sales Tax on imports and Rs.28.001 billion as Domestic Sales Tax.

The Federal Excise Duty collections upto February 26 are Rs.8.678 billion, including 1.117 billion FED import and Rs.7.561 billion FED Domestic.

The board rebated Rs.64.853 billion from July-February and Rs.5.631 billion during the month of February.

Talking to APP, Additional Secretary FBR, Asrar Rauf said that there was over 27 per cent growth in the revenue collection on exports as the tax on exports increased from Rs.9 billion in July-January (2009-10) to Rs.12 billion during the first seven months of this fiscal year.

He said that taxes on imports have also witnessed 23 per cent growth till January 2011 by growing from Rs.27 billion last year to Rs.34 billion this year.

Similarly the taxes related to the telecom sector also increase by 19 percent during the period, Rauf said adding taxes in this sector increased from 12.8 billion to over 15 billion.

However, he said that there has been fall of 9 percent in PSDP related taxes which he said have gone down from Rs.48 billion last year to Rs.44 billion this year.