Sales tax collectorate, Karachi has collected Rs 2.917 billion during the first quarter of the current fiscal year (2006-07), up Rs 176.62 million or 6.44 percent.
According to official statistics provided by the sales tax house, Karachi on Monday, Rs 2.917 billion were collected in the first quarter of 2006-07 as compared to Rs 2.741 billion during the corresponding period last year, showing an increase of Rs 176.64 million or 6.44 percent.
The increase in the sales tax was due to reform policies adopted by the Central Board of Revenue (CBR). The friendly policies had encouraged taxpayers to fulfil their liabilities, officials in the sales tax house said.
The sales tax additional collected also depicted that economy is booming and business community is getting benefits from it, officials said. According to month-wise break-up, the sales tax department collected Rs 1013.51 million in July this year as compared to Rs 964.38 million in the same month of fiscal year 2005-06, depicting an increase of 49.13 million or 5.1 percent.
In August, the sales tax collectorate collected Rs 1002.32 million as compared to Rs 835.84 in the same month of the last fiscal year, depicting an increase of 166.48 million or 19.917 percent.
The sales tax house collected Rs 901.89 million in August as compared to 940.88 to in the same month of last year, showing a decrease of Rs 38.99 million or 4.14 percent. Officials said September figures were provisional and it would increase after receiving final collection.
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