The collection of Sindh Excise and Taxation (E&T) department has increased by 7 percent to Rs 4.41 billion during the first half of Fiscal Year (FY) 2007-08 against Rs 4.11 billion of the corresponding period last year.
"E&T department has surpassed last FY tax collection figures by Rs 305.696 million, which shows the positive performance of the department besides paving the way for achieving the fixed target of E&T department for current FY," sources said on Saturday.
To a question, they apprised that the revenue target fixed for current FY of E&T department was Rs 9.48 billion and added that collection was made during first half of current FY by the department was beyond the expectation. "The set target will easily be achieved after noticing current performance of the department during first half," they hoped.
Explaining details, they said that the tax collection was increased due to noticeable collection on the accounts of motor vehicle tax, excise duty, professional tax, hotel tax and cotton fee during the first half of current FY.
They said that Rs 651.28 million was deposited by taxpayers in the shape of bank guarantees as per order of High Court of Sindh during first six months of FY.
Therefore, the total collection on account of duties and taxes and bank deposit in the form of guarantees came to Rs 5.06 billion, which shows 6 percent growth in set target of Rs 4.74 billion for financial year 2007-08. They said that E&T department has collected Rs 931.815 million on account of motor vehicle professional tax, Rs 70.185 million for cotton fee and Rs 82.619 million as hotel tax.