June 06, 2006	Tuesday	Jumadi-ul-Awwal 9, 1427

ISLAMABAD, June 5: The government on Monday increased the revenue collection target by 18.6 per cent to Rs835 billion for the fiscal year 2006-07 as against the revised target of Rs704 billion for 2005-06.

Official figures of the budget for 2006-07 showed that the government had projected Rs268.2 billion under the head of direct taxes during the fiscal year 2006-07 as against the revised target of Rs232 billion for 2005-06, an increase of 15.6 per cent.

The revenue collection under the head of indirect taxes — customs, sales tax and central excise — on commodities and transactions increased by 18.32 per cent to Rs566.8 billion for the fiscal year 2006-07 as against the revised target of Rs479 billion for 2005-06.

The tax-wise break-up of direct taxes showed the government fixed Rs257.8 billion to be collected under the head of income tax during 2006-07 as against the revised target of Rs215.5 billion, showing an increase of 19.62 per cent.

The government fixed a target of Rs10.4 billion to be collected under other taxes of direct taxes head during the year under review as against the revised target of Rs16.5 billion for 2005-06, indicating a decrease of 36.9 per cent.

The customs collection target was raised by 15.5 per cent to Rs157.1 billion for the fiscal year 2006-07 as against the revised target of Rs136 billion for 2005-06.

The collection under the head of sales tax was increased by 19.23 per cent to Rs341.6 billion for 2006-07 as against the revised target of Rs286.5 billion for 2005-06.