ISLAMABAD, June 12: The government has fixed the revenue target for the year 2004-05 at Rs580 billion compared to Rs510.1 billion target set for the outgoing fiscal year, showing an increase of 13.7 per cent.

Official figures released in the budget 2004-05 here on Saturday, have projected that Rs181.9 billion will be collected under the head of direct taxes during the next fiscal year against the target of Rs161.5 billion for the year 2003-04, indicating an increase of 12.6 per cent.

The tax authorities plans to collect Rs398.1 billion under the head of indirect taxes during 2004-05 against the target of Rs348.5 billion for the year 2003-04, an increase of 14.2 per cent.

Further break up of the indirect taxes showed that Rs249.2 billion will be collected under the head of sales tax as against the target of Rs218.4 billion for 2003-04, an increase of 14.1 per cent. While Rs45.7 billion have been projected to be collected under the head of central excise duty (CED) during 2004-05 against the target of Rs43.5 billion for 2003-04, a rise of 5 per cent.

And Rs103.2 billion will be collected under the head of custom duty against the target of Rs86.6 billion for 2003-04, showing an increase of 19 per cent.