Tax collection at Karachi RTO up by five percent

The Regional Tax Office (RTO), Karachi, witnessed 5 percent growth during the ongoing fiscal period as compared to previous corresponding period. According to provincial statistics made available to Business Recorder on Wednesday, that RTO, Karachi, collected Rs 40.550 billion on account of direct tax during July 2009 to November, 2009 as compared to Rs 38.606 billion of corresponding period of last year.
The sales tax department collected around Rs 8.016 billion, and refunded Rs 1.770 billion during current fiscal year. Sources told Business Recorder that the RTO hads surpassed last year's collection by a mere Rs 1.944 billion owing to persisting economic crisis.
Sources said that about 41 percent negative growth was witnessed in collection made on account of demand as Rs 794.723million was collected as compare to Rs 1.343 billion collection made in the last corresponding period. Some Rs 94.43million was collected on account of arrears demand, showing 1 percent growth comparatively to last period collection of Rs 93.40million. However, about 36 per cent negative growth was witnessed on the collection made from returns as Rs 1.318 billion was collected as compared to Rs 2.67 billion collection made in the last corresponding period.