Provisional figures: July-October tax collection shows Rs 53.1 billion shortfall

The Federal Board of Revenue has provisionally collected Rs 546.2 billion during first four months of 2012-13 against the target of Rs 599.3 billion, reflecting a shortfall of Rs 53.1 billion. However, the Economic Co-ordination Committee (ECC) of the Cabinet was informed by the Finance Ministry that provisionally revenue collection of Rs 546.2 billion during the first four months of 2012-13 was 7.7 percent higher as compared Rs 507.1 billion for the same period of last year.
The data shared with the ECC, the copy of which is available with Business Recorder showed that direct taxes collection amounted to Rs 188.1 billion during July-October (2012-13) against Rs 164.2 billion in the same period last fiscal, showing an increase of 10.3 percent. Sales tax collection stood at Rs 258.8 billion during July-October (2012-13) against Rs 249 billion in the same period last fiscal year, reflecting an increase of 3.9 percent.
Federal Excise Duty (FED) collection was Rs 30 billion in first four months of 2012-13 as compared to Rs 36.9 billion in the corresponding period of last fiscal, reflecting a decrease of 18.7 percent. The collection of customs duty was Rs 69.3 billion during July-October (2012-13) against Rs 57 billion in the same period last fiscal, showing a growth of 21.6 percent.
Sources said that the FBR has provisionally collected Rs 140 billion in October 2012 against Rs 126 billion in corresponding period of last fiscal, reflecting an increase of Rs 14 billion. The target of October 2012 was Rs 176 billion. Due to four Eid holidays, the FBR was not able to collect around Rs 20-22 billion. One holiday cause around Rs 4-5 billion loss to the national exchequer. During first quarter 2012-13, the FBR has collected Rs 409 billion against the target of Rs 437 billion during this period.