The Federal Board of Revenue (FBR) collected Rs 630.55 billion as net sales tax collection during full year 2010-11, against Rs 517.3 billion of previous fiscal year (2009-10), reflecting an increase of Rs 113.25 billion. Business Recorder learnt here on Wednesday that the FBR collected Rs 598.97 billion as direct taxes during 2010-11 against Rs 528.6 billion in 2009-10, showing an increase of Rs 70.37 billion.
Break-up of revenue collection during 2010-11 showed that the collection of the federal excise duty stood at Rs 135.71 billion during whole 2010-11 against Rs 121.2 billion in previous year, reflecting an increase of Rs 14.51 billion. The FBR collected Rs 184.63 billion as customs duty during July-June 2010-2011 against Rs 161.5 billion in previous fiscal year, reflecting an improvement of Rs 23.13 billion. Thus, total reconciled figure of net revenue collection was approximately Rs 1550 billion during 2010-11.
In June 2011, the revenue collection was Rs 240.43 billion. The total refund paid to the exporters during July-June 2010-11 stood at Rs 106.457 billion. The refund payment in June 2011 amounted to Rs 13.556 billion. It is expected that the FBR will shortly issue the final revenue collection chart for 2010-11, sources added. The net revenue collection stood at nearly Rs 1550 billion for 2010-11 against the target of Rs 1588 billion, reflecting a shortfall of Rs 38 billion.
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