November 1, 2002	Friday	Sha’aban 25,1423

ISLAMABAD, Oct 31 : The revenue receipts fell by 1.04 per cent to Rs123.5bn during the first four months of the current financial year against the target of Rs124.8bn set for the same period.

The revenue collection, however, showed a growth of 11.55 per cent during the July-October period of the current financial year as it stood at Rs123.5bn against Rs110.704bn netted during the same period last year, according to provisional figures released by the Central Board of Revenue here on Thursday.

On monthly basis, the revenue receipts fell short of target by 4.48 per cent to Rs33.1bn during October against the target of Rs34.8bn set for the same month. And in comparison to the same month of last year, it registered a negative growth of 0.42 per cent as it stood at Rs33.1bn in October this year against Rs33.24bn over the corresponding month last year.

The collection in October showed that revenue collection under the head of direct taxes and central excise duty declined this month in comparison to that of last year. However, the revenue under the head of sales tax and customs duty registered a growth over the same month of previous year.

Further break-up showed the tax authorities collected Rs14.9bn under the head of sales tax during October against Rs13.357bn over the corresponding month last year, showing an increase of 11.55 per cent.

Similarly, Rs4.8bn was collected as customs duty in October this year against Rs4.05bn during the same month of last year, showing an increase of 18.5 per cent.

The tax authorities collected Rs2.8bn under the head of CED during October against Rs3.68bn during the same month last year, showing a decline of 23.9 per cent.

And the revenue under the head of direct taxes stood at Rs10.6bn during the same month this year against Rs12.15bn of last year, showing a decline of 12.75 per cent.

CBR official spokesman Vakil Ahmed Khan said the CBR expected to collect Rs2bn more latest by November 14.

He said in case the CBR succeeded in achieving the target of Rs124.8bn set for the July-October period, then it would mark an improvement of almost 13 per cent as compared to collection of last year as the revenue realization was Rs110.7bn during the same period last year.

The CBR has set Rs110.5bn tax revenue target for the second quarter (October-December) of the current financial year against Rs105bn projected for the same period of last fiscal, showing an increase of 5.23 per cent. Of these, the tax authorities collected Rs97.07bn during the second quarter last year.

The tax authorities would have to collect Rs75.7 million during the two months of November and December to achieve the target of second quarter.