August 26, 2007	Sunday	Sha’aban 12, 1428

ISLAMABAD, Aug 25: The Federal Board of Revenue (FBR) has raised more than Rs3.427 billion revenue from five additional services, which were brought into the net of federal excise duty (FED) last year.

Official figures released by FBR showed that an amount of Rs2.125 billion had been raised from the levy of FED on international air travel, which was introduced for the first time in the budget of 2006-07.

It was estimated that the revenue to be generated from the levy will be around Rs3.5 billion for the same year.

From the fixed FED levy on cable operators the revenue generated remained much behind the projection, which stood at Rs0.3 million as against the projection of Rs500 million.

This poor collection led to the withdrawal of the duty on cable operators during the budget 2007-08.

The levy of five per cent of FED on non-fund services provided by banks netted Rs668.9 million as against the projected target of Rs2.200 billion during the year 2006-07.

An amount of Rs632.6 million has been generated as a result of five per cent FED on franchise services during the year 2006-07.