Revenue 6% above target in July-October period

[Naveed Yaseen]

SOHAIL SARFRAZ
ISLAMABAD (November 02 2008): The Federal Board of Revenue (FBR) has provisionally collected Rs 349.8 billion during July-October period of 2008-09 against target of Rs 329.3 billion, showing an increase of over Rs 20 billion. According to FBR data issued on Saturday, the board collected Rs 349.8 billion during July-October 2008-09 against Rs 271 billion of the same period of last fiscal reflecting a growth of Rs 78.8 billion.

The Data showed that the board collected Rs 87.689 billion revenue (inclusive of direct and indirect taxes) in October 2008 against the target of Rs 78.2 billion, reflecting a growth of Rs 9.489 billion during the month, and a growth of Rs 21.301 billion from October, 2007 collection of Rs 66.388 billion.

According to break-up for October 2008, direct taxes collection stood at Rs 23.902 billion; sales tax collection Rs 42.545 billion; federal excise duty (FED) Rs 7.414 billion and collection of customs duty during October was Rs 13.828 billion.

Sales tax collection during October has shown excellent performance at the import stage as well as domestic consumption. Sales tax collection at the import stage stood at Rs 22.321 billion, whereas GST collection on domestic consumption was Rs 20.224 billion during October.

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