Pakistan collects one trillion rupees as taxes in nine months

April 2nd, 2011 - 5:18 pm ICT by ANI  

Islamabad, April 2(ANI): Pakistan’s Federal Board of Revenue (FBR) has collected over one trillion rupees in taxes in the first three quarters of the current fiscal year.

The collection represents a 12.8 per cent increase over 886 billion rupees collected in the corresponding period of the preceding year, The Express Tribune reports.

Of the 123 billion rupees collected, direct taxes contributed 55 billion in the form of income tax, while among indirect taxes, 43 billion rupees were collected as sales tax, 9 billion as federal excise duty and 16 billion as customs duty.

However, the collection for March stands 37 billion rupees lower than the 160-billion-rupee target set for the month.

Despite expectation of the shortfall dropping in the coming days, it is unlikely that the 160-billion-rupee target for the month will be met when final figures are released by the board.

According to sources, it is also unlikely that the tax collection target for the fiscal year will be achieved, as the FBR faces an uphill task of collecting 556 billion rupees in the final quarter. (ANI)

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