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The Federal Board of Revenue (FBR) has provisionally collected Rs 2,412 billion during July-January (2019-2020) against the downward revised target of Rs 2,622 billion, reflecting a shortfall of Rs 210 billion.

According to the updated data of revenue collection, compiled here Wednesday, the FBR has collected Rs 2,412 billion during the first seven months of (2019-2020) against Rs 2,067 billion during the corresponding period of 2018-2019, reflecting an increase of 16.7 percent.

According to the provisional revenue collection figures compiled by the FBR, the FBR has collected Rs 318 billion during January 2020 against Rs 272 billion during the same period in the previous fiscal year, reflecting an increase of 16.8 percent.

Breakup of revenue collection revealed that the collection of direct taxes during July-January (2019-2020) amounted to Rs897.463 billion against Rs759.145 billion in the same period of the last fiscal year, reflecting growth of 18.2 percent.

At the import stage, direct taxes collection stood at Rs 124.442 billion during July-January (2019-2020) against Rs 132.413 billion as compared to the same period of 2018-2019, reflecting a decrease of six percent.

The domestic collection of direct taxes was Rs773.021 billion July-January (2019-2020) against Rs626.732 billion as compared to the same period of 2018-2019, showing an increase of 23.3 percent.

Sales tax collection totaled at Rs990.203 billion during the first seven months of the current fiscal year against Rs797.893 billion as compared to the same period of 2018-2019, reflecting a growth of 24.1 percent.

At the import stage, sales tax collection was Rs 526.913 billion against Rs 455 billion, reflecting an increase of 15.8 percent. The sales tax collection on domestic consumption (local stage) was Rs 463.8 billion July-January (2019-2020) against Rs 342.78 billion in the corresponding period of 2018-2019, showing an increase of 35.2 percent.

The federal excise duty (FED) collection amounted to Rs 144.227 billion July-January (2019-2020) against Rs 117.542 billion in the corresponding period of 2018-2019, showing an increase of 22.7 percent. The customs duty collection stood at Rs 380.329 billion July-January (2019-2020) against Rs 392 billion, reflecting a negative growth of 3.1 percent.

Copyright Business Recorder, 2020