SUBJECT: FBR HAS SURPASSED THE REVENUE TARGET SET FOR MAY 2008.
FBR has surpassed the revenue target of Rs. 84.8 billion assigned for May 2008.
2. The provisional tax collection for May 2008 has achieved an overall growth of 30.3%. The net collection during May 2008 has been Rs. 86 billion against Rs. 66 billion during May 2007. The revenue on account of direct taxes has risen from Rs. 20 billion last May to Rs. 24.1 billion in May 2008 reflecting a growth of 20.3%. The sales tax collection has jumped to Rs. 38.5 billion as against Rs. 27.4 billion of last May showing a growth of 40.3%. While sales tax on import stage has increased by 16.8%, the increase in the domestic component is 76%. The collection of federal excise duties has increased by 15.9%, increasing from Rs. 7.3 billion to Rs. 8.5 billion. Finally, a healthy growth of 33.3% has been recorded in the collection of customs duties where the net receipts have reached Rs. 14.9 billion against Rs. 11.2 billion of last May.
3. The July – May collection of FBR now stands at Rs. 849.6 billion as against Rs. 722.5 billion of corresponding period of last year showing an overall growth of 17.6%.
4. The provisional figures for the month of May are expected to increase further during the next few days.
Khawar Khurshid Butt
Member (FATE) Official Spokesman of Federal Board of Revenue
Jun 02, 2008