FBR collects Rs130b in taxes during December

Revenues expected to reach Rs140b by month-end. The FBR disbursed Rs38.58 billion in tax refunds and rebates.

ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs130 billion so far in December, which is 45 per cent more than the collection of Rs82 billion in the same month last year.

The Rs130 billion netted in December has taken total revenues to Rs624.73 billion in six months (July-December) of the current financial year.

Besides collection, the FBR disbursed Rs38.58 billion in tax refunds and rebates in the six months of the year.

According to a senior officer of the FBR, the December collection of Rs130 billion is 11.56 per cent lower than the target of Rs147 billion for the month. However, after finalisation of figures in the next few days, the tax collection is expected to reach Rs140-145 billion in the month.

The officer said direct tax (income tax) collection stood at Rs56 billion in December. Among indirect taxes, sales tax collection stood at Rs49 billion, customs duty at Rs15 billion and federal excise duty at Rs10 billion.

In six months, direct tax collection totalled Rs215.5 billion while indirect taxes were Rs409.22 billion. Of the indirect taxes, Rs274.72 billion was collected under the head of sales tax, Rs77.84 billion as customs duty and Rs56.65 billion as federal excise duty.

Published in The Express Tribune, December 31^st, 2010.