FBR collects Rs989b revenue in 11 months

ISLAMABAD (APP) - The Federal Board of Revenue (FBR) has collected revenue of Rs.989.096 billion in July-May (2008-09), registering a growth of 15.5 percent over the revenue collections of the corresponding period of the last fiscal year. The FBR revenue collection stood at Rs.856.203 billion during July-May (2007-08), Spokesman FBR, Mehmood Alam told APP. Quoting the FBR provisional figures, he said that revenue on account of direct taxes has maintained growth of 15.6 percent during the time under review. According to the figures, Rs.361.582 billion have been collected as direct taxes during the period under review against the collection of Rs.312.765 billion during last year. Indirect taxes during the time under review also witnessed increase of 15.5 percent by growing up from Rs.543.437 billion during the first eleven months of last financial year to Rs.627.515 billion during July-May (2008-09). Giving break up, he said that the sales tax collection up to May 2009 totalled Rs.398.828.920 billion against Rs.333.095 billion collected during the corresponding period of last year, indicating growth of 22.2 per cent. Similarly, the tax receipts on account of federal excise duties have recorded a significant increase of 24.2 per cent touching Rs.100.090 billion against Rs.80.582 billion collected during the last financial year. Rs.128.596 billion have been collected from customs duties during the period, showing negative growth of 0.9 percent when compared to the collection of Rs.129.761 billion collected in same period of last fiscal year. The FBR has refunded Rs.68.577b during that period against the refunds of Rs.59.764b of last year, showing an increase of 14.7pc. However, during the month of May 2009, tax collections witnessed negative growth of 2.9 percent when compared to the collections of the same month of last year. Total revenue collections during May 2009 were recorded at Rs.89.884 billion as against the collections of Rs.92.610 billion. During the month under review direct taxes increased by 1.5 percent where as the indirect taxes declined by 4.9 percent as compared to the same month of last financial year. Direct taxes were recorded at Rs.28.641b against Rs.28.212b collected during May 2008 where as indirect tax totalled Rs.61.242 in May 2009 against Rs.64.398b collected during May 2008. Of these, sales tax collection stood at Rs.39.756 billion, sales tax (import) Rs.17.313 billion and sales tax (domestic) Rs.22.442 billion. The federal excise duty during the month of May 2009 stood at Rs. 1.273 billion while customs collection totalled Rs.11.407 billion. During the month of May 2009, the FBR refunded Rs.5.172 billion.

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