The Federal Board of Revenue (FBR) has provisionally collected around Rs 1060 billion during July-April (2010-11) against the downward revised annual target of Rs 1588 billion, reflecting a shortfall of Rs 528 billion. Sources told Business Recorder here on Monday that the FBR has compiled data of revenue collection during July to April 18, 2011.
On average basis, the Board has to collect nearly Rs 264 billion in each month of April to June of current fiscal year to reach the revised target of Rs 1588 billion. The provisional revenue collection figures have been compiled based on the latest data up to April 18, 2011.
According to the provisional figures issued on Monday, direct taxes collection stood at Rs 401.675 billion during July-April (2010-2011) against Rs 369.536 billion in the corresponding period of last fiscal year, showing an increase of 8.7 percent. Sales tax collection stood at Rs 435.055 billion against Rs 394.998 billion, reflecting an increase of 10.1 percent. Sales tax collection at the import stage stood at Rs 224.236 billion against Rs 183.159 billion, showing an increase of 22.4 percent. The provisional sales tax collection on domestic consumption was Rs 210.820 billion during July-April (2010-2011) against Rs 211.839 billion in the corresponding period of last fiscal year, reflecting a negative growth of 0.5 percent. Up to April 18, 2011, sales tax collection at the domestic stage has shown negative trend when compared with the same period of last fiscal year.
The FBR has collected Rs 90.241 billion as federal excise duty (FED) during July-April (2010-2011) against Rs 90.170 billion in the corresponding period last fiscal year, reflecting an increase of 0.1 percent. The collection of customs duty amounted to Rs 133.639 billion against Rs 117.897 billion, reflecting an improvement of 13.4 percent.
The data on payment of refunds and rebates showed that the FBR paid refunds to the tune of Rs 73.029 billion in July-April 18, (2010-2011) against Rs 57.020 billion in the same period of last fiscal year, reflecting 28.1 percent increase. The data of monthly collection showed that the FBR collected Rs 40.672 billion during first 18 days of April 2011 against Rs 63.003 billion collected in the corresponding period of last fiscal year, reflecting a decrease of 35.4 percent.