The Federal Board of Revenue (FBR) has collected Rs 509.7 billion during the first seven months (July-January) of 2007-08 against Rs 462.7 billion in the corresponding period last year, showing a growth of 10.2 percent.
According to the provisional figures released on Thursday, the net collection during January 2008 was Rs 72.4 billion against the target of Rs 67.2 billion, reflecting a growth of Rs 5.2 billion.
The net collection during January 2008 was Rs 72.4 billion against Rs 52.2 billion during January 2007, showing growth of 38.7 percent. The break-up revealed that direct taxes collection was Rs 24.7 billion in January 2008 against Rs 12.5 billion last January, reflecting an enormous growth of 98.2 percent.
Direct taxes have shown extraordinary growth during this period due to several measures, including the recovery of arrears. A major portion of shortfall of December 2007 has been recovered following the increased revenue from the corporate sector in January 2008.
The sales tax collection was Rs 28.4 billion against Rs 24.8 billion in the same period last year, showing a growth of 14.4 percent. While sales tax on import stage has increased by 27.85 percent, the sales tax collected on domestic consumption has shown growth of 0.4 percent.
The collection of federal excise duty (FED) was Rs 6.9 billion in January 2008 against Rs 5.3 billion, showing the increase of 30 percent. The collection of customs duty was Rs 12.4 billion in January 2008 against Rs 9.6 billion during the corresponding period last year, reflecting a remarkable growth of 29.1 percent. The provisional figures of January are expected to increase during the next few days, the FBR added.