ISLAMABAD, May 31: The Central Board of Revenue collected Rs434.7 billion during 11 months of the current financial year against the target of Rs440.7 billion, showing a marginal decrease of 1.36 per cent.

An analysis of provisional figures showed that the tax collection registered a growth of 10.9 per cent during the period under review when compared with last year's collection of Rs392 billion.

The analysis showed the collection declined by 27.9 per cent to Rs37.4 billion in May 2004 against the target of Rs51.9 billion. Similarly, the revenue collection during the month under review declined by 6.26 per cent when compared with the revenue collection of Rs39.9 billion during the same month last year.

The statistics further showed that the collection declined by 15.1 per cent in March 2004 and 8.97 per cent in April 2004 against the budgeted targets. To achieve the current year's annual target of Rs510 billion, the CBR has to collect Rs75.3 billion in June 2004.

However, the CBR projected a collection of only Rs69.4 billion for the current month against last year's collection of Rs68.14 billion during the same month, an increase of 1.84 per cent.

The tax-wise break-up showed that the tax authorities collected Rs191 billion under the head of sales tax during the July-May period of the current financial year against the target of Rs194.2 billion, showing a decrease of 1.64 per cent.

The revenue under the head of direct taxes declined by 5.17 per cent to Rs128.2 billion during the period under review against the target of Rs135.2 billion.

And the revenue collection under the head of central excise duty (CED) stood at Rs38.8 billion against the target of Rs41.2 billion, showing a decline of 5.82 per cent. The tax authorities collected Rs76.7 billion under the head of customs duty against the target of Rs70.1 billion, showing an increase of 9.4 per cent.