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Print Print 2020-03-22

Divisible pool: Provinces got Rs 1.5 trillion in seven months

Provinces got Rs 1,501 billion from the Divisible Pool taxes during the first seven months of the current fiscal year, and Rs 64.985 billion under straight transfers, according to the Finance Ministry.
Published 22 Mar, 2020 12:00am

Provinces got Rs 1,501 billion from the Divisible Pool taxes during the first seven months of the current fiscal year, and Rs 64.985 billion under straight transfers, according to the Finance Ministry.
Provinces' share in the federal taxes in the Divisible Pool was projected at Rs 3,153 billion as per Finance Ministry's budget in brief for the current fiscal year - income tax, capital value tax, sales tax excluding the GST on services, the federal excise (excluding excise duty on natural gas), customs duties (excluding export development surcharge) on the premise of Rs 5.5 trillion tax collection.
Under straight transfers, provinces were projected to receive Rs 100 billion in the budget on account of gas development surcharge, royalty on natural gas, royalty on crude oil, and excise duty on natural gas.
On the basis of tax collection in the Divisible Pool during the first seven months of the current fiscal year, Punjab has disbursed Rs 746 billion with Rs 294 billion on account of income tax, Rs 1.037 billion for the CVT, Rs 295 billion on account of sale tax collection, Rs 42 billion for federal excise, and Rs 113 billion on account of custom.
Sindh received Rs 354 billion from divisible pool taxes, with Rs 140 billion on account of income tax, Rs 492 million on account of CVT, Rs 140 billion for sales tax, Rs 20.085 billion share of federal excise, and Rs 54 billion on account of customs collection.
The Khyber-Pakhtunkhwa was disbursed Rs 236 billion from divisible pool taxes during the first seven months of the current fiscal year with Rs 93 billion on account of income tax, Rs 328 million for CVT, Rs 93 billion on account of sales tax, Rs 13 billion share from federal excise, and Rs 36 billion on account of customs collection.
Balochistan received Rs 164 billion in the first seven months of the current fiscal year from Divisible Pool tax collection, with Rs 61 billion share on account of income tax collection in Divisible Pool, Rs 116 million CVT, Rs 63 billion on account of sales tax, Rs 10 billion federal excise, and Rs 29 billion on account of customs collection.
On account of straight transfer, Punjab was disbursed Rs 4.880 billion with Rs 3.067 billion share on account of royalty on crude oil, Rs 1.192 billion royalty on natural gas, Rs 407 million share for gas development surcharge, and Rs 213 billion on account of excise duty on natural gas.
Sindh was disbursed Rs 34 billion under straight transfer with Rs 4.286 billion on account of royalty on crude oil, Rs 29.6 billion royalty on natural gas, Rs 7.533 billion gas development surcharge, and Rs 3.5 billion for excise duty on natural gas.
The Khyber-Pakhtunkhwa was disbursed Rs 16.9 billion under straight transfer with Rs 9.8 billion on account of royalty on crude oil, Rs 6.2 billion for royalty on natural gas, Rs 68 million for gas development surcharge, and Rs 835 million for excise duty on natural gas.
Balochistan received Rs 8.8.735 billion under straight transfer with Rs0.649 million on account of royalty on crude oil, Rs 7.539 billion royalty on natural gas, Rs 255 million gas development surcharge, and Rs 885 million on account of excise duty on natural gas.

Copyright Business Recorder, 2020

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