The Federal Board of Revenue (FBR) has provisionally collected around Rs 1103 billion during July-April (2010-2011) against downward revised annual target of Rs 1588 billion, reflecting a shortfall of Rs 485 billion. Sources told Business Recorder here on Saturday that the FBR has compiled data of revenue collection during July-April 23, 2011.
The Board has to collect nearly Rs 152.66 billion in each month of April, May and June of current fiscal year to meet the downward revised annual target of Rs 1588 billion by the end of June 30, 2011. The provisional revenue collection figures have been compiled based on the latest data up to April 23, 2011. According to the provisional figures issued on Saturday, the FBR collected around Rs 1103 billion during July-April (2010-2011) against Rs 997.526 billion in the corresponding period of last fiscal year, reflecting an increase of 10.6 percent.
Breakup shows that the direct taxes collection stood at Rs 408.165 billion during July-April (2010-2011) against Rs 377.939 billion in the corresponding period of last fiscal year, showing an increase of 8 percent. Sales tax collection stood at Rs 458.426 billion during the first ten months of current fiscal year against Rs 405.708 billion in the same period last fiscal year, reflecting an increase of 13 percent.
Sales tax collection at the import stage stood at Rs 228.991 billion during July-April 23 (2010-2011) against Rs 187.067 billion, showing an increase of 22.4 percent. The provisional sales tax collection on domestic consumption was Rs 229.436 billion during July-April (2010-2011) against Rs 218.641 billion in the corresponding period of last fiscal year, reflecting growth of 4.9 percent.
The FBR has collected Rs 99.933 billion as federal excise duty (FED) during July-April (2010-2011) against Rs 93.209 billion in the corresponding period of last fiscal year, reflecting an increase of 7.2 percent.
The collection of customs duty amounted to Rs 136.765 billion during the first ten months of current fiscal year against Rs 120.670 billion in the same period last fiscal year, reflecting an improvement of 13.3 percent. The data on payment of refunds and rebates shows that the FBR has paid refunds around Rs 74.957 billion July-April 23, (2010-2011) against Rs 57.368 billion in the same period of last fiscal year, reflecting 30.7 percent rise. The data of monthly collection showed that the FBR has collected Rs 83.140 billion during first 23 days of April 2011 against Rs 87.929 billion collected in the corresponding period of last fiscal year, reflecting a decrease of 5.4 percent.