Revenue: FBR exceeds collection target in December

ISLAMABAD: Tax collection for the month of December stood at Rs150.5 billion, which was 2.3 per cent higher compared to the same period last year.

The collection was also Rs3.5 billion higher than Rs147 billion which was the target set by the Federal Board of Revenue.

Tax collection target for January is set at Rs126.9 billion, which will be achieved through collecting Rs42.8 billion on account of income tax ,Rs57.1 billion sales tax, Rs11.1 billion federal excise duty and Rs15.9 billion customs duty.

During the first half of the current fiscal year, a total of Rs651 billion taxes were collected, up by 11.8 per cent compared to the same period last year.

This was achieved by collecting Rs231.8 billion in direct tax, Rs281.8 billion in sales tax, Rs57.4 billion in federal excise duty and Rs80 billion in customs duty.

Published in The Express Tribune, January 2^nd, 2011.