ISLAMABAD, July 29: The revenue receipts at Rs460.589 billion during the financial year 2002-03 crossed the target by a little less than Rs2 billion.

Final official figures released by the Central Board of Revenue (CBR) here on Tuesday showed that the collection increased by 14 per cent during the outgoing fiscal as compared to the collection of Rs404.07 billion in the fiscal 2001-02.

CBR spokesman Vakil Ahmad Khan told reporters that the revenue collection stood at Rs68.561 billion in June 2003 against the collection of Rs60.562 billion during the same month last year, an increase of 13.3 per cent.

He said the tax authorities collected Rs151.7 billion under the head of direct taxes during the financial year 2002-03 against Rs142.505 billion collected during the corresponding year, showing an increase of 6.5 per cent.

Mr Khan said the revenue collection under the head of indirect taxes stood at Rs308.889 billion against Rs261.565 billion, showing an increase of 18.1 per cent.

Further break-up showed that the collection declined by 1.53 per cent to Rs194.759 billion under the head of sales tax during the financial year 2002-03 against the target of Rs197.8 billion. And sales tax collection rose by 16.9 per cent during the period under review when compared with the previous year’s collection of Rs166.561 billion.

The tax authorities collected Rs45.03 billion under the head of central excise duty during the fiscal 2002-03 against the target of Rs46.5 billion, showing a decline of 3.16 per cent.

And the tax authorities collected Rs69.1 billion under the head of customs duty during the period under review against the target of Rs56.5 billion, showing an increase by 22 per cent.