Provisional figures: tax collection surpasses Rs 1.010 trillion mark in July-March

The revenue collection has surpassed Rs 1.010 trillion during July-March (2010-11) against the target of Rs 1.016 trillion, helping the FBR meet 99 percent target. According to the provisional revenue collection figures issued by the FBR here on Friday, the FBR has amassed Rs 1.010 trillion despite negative factors like slowdown of economy, law and order situation and other negative factors.
Against a target of Rs 1.016 trillion for the first nine months of the current fiscal, the FBR has successfully managed to collect Rs 1.010 trillion. The details of revenue collection revealed that collection challans for March 31, 2011 are being processed and the full month''s figures would be available in a day or so. For the March 2011 target of Rs 140.4 billion, the FBR has already collected Rs 134.1 billion up to March 30, 2011. The collection of March 31, 2011 is yet to be reflected in these figures.
Nonetheless the attained collection shows a growth of 13.5 percent over the last year. These collections are provisional and subject to final reconciliation with AGPR and the Banks by mid April 2011. As per historical trend, additional revenues are accounted to the government treasury as a result of the reconciliation. FBR therefore, expects to meet its monthly as well as the 9-month target as a result of the reconciliation exercise, the FBR added.