The Federal Board of Revenue (FBR) has collected Rs 49.1 billion during July 2007 against the target of Rs 45.1 billion, showing an increase of Rs 4 billion. According to the provisional figures (up to July 31) released on Wednesday, direct taxes collection was Rs 13.9 billion against Rs 10.1 billion, showing a growth of 38.1 percent.
Sales tax collection was Rs 25.1 billion against Rs 24 billion, indicating a growth of 4.4 percent. Whereas the growth sales tax collection at import stage was 1.2 percent, sales tax on domestic consumption has increased by 9.8 percent.
Due to change in tax payment schedule, federal excise collection for July will now be paid on August 15, 2007 along with the sales tax returns.
Hence, the comparison with the last year is meaningless, the FBR said. The FED collection in July mainly on account of one percent additional surcharge has been Rs 1.4 billion. The collection of customs duty was Rs 8.7 billion in July 2007 against Rs 8.1 billion in the same period last fiscal, the board added.