The Central Board of Revenue (CBR) has collected Rs 199.32 billion revenue during July-November (2004-05) against the target of Rs 193 billion, reflecting an increase of Rs 6.32 billion. Official sources told Business Recorder here on Tuesday that the CBR has released (provisional) figures up to November 29, 2004, showing satisfactory performance as the collection is Rs 6.2 billion ahead of target.
However, additional Rs 3-4 billion is expected till compilation of final figures, which would take the revenue collection to around Rs 202 billion. If the collection exceeds Rs 202 billion, it would indicate increase of about Rs 9 billion from the laid down target.
CBR expects that collection would show extraordinary increase on compilation of final figures for November 2004 in the next few days.
The monthly collection for November so far stood at Rs 32.7 billion. The collection in November would also show more increase till the compilation of final figures, officials said.
Tax-wise data shows that direct tax collection was Rs 54.7 billion in July-November (2004-05) against Rs 46.4 billion in the corresponding period last fiscal showing an increase of 17.9 percent.
Sales tax collection was Rs 86.3 billion in the first five months of current fiscal reflecting a growth of 18.6 percent. The growth on the sales tax side at the import stage was 18.6 percent and sales tax collection from the domestic commodities reflected an increase of 1.5 percent growth.
In response to continued growth in foreign trade activities the collection on account of custom duty has gone up to Rs 39.9 billion in July-November 2004-05 against Rs 30.4 billion during same period last fiscal year, showing a growth of 31.1 percent.
Similarly, the collection of central excise duty was Rs 18.5 billion indicating an increase of 16.7 percent when compared with the collection in the same period last year.
The monthly break-up shows that direct taxes collection was Rs 6.2 billion in November 2004; sales tax Rs 7.3 billion; CED Rs 3 billion; and collection of custom duty was Rs 7.3 billion.
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