September 21, 2007	Friday	Ramazan 08, 1428

ISLAMABAD, Sept 20: The tax authorities have set a target of Rs280.3 billion revenue collection for the second quarter (October-December) to achieve Rs1,025 billion target projected for the current fiscal year.

An official source told Dawn on Thursday that a growth of 23.7 per cent had been projected in the revenue collection during the next quarter. The break up showed that the tax authorities would have to collect Rs66.4 billion in October, Rs69.5 billion in November and Rs144.4 billion in December. Tax wise break up showed that Rs130.6 billion would be collected under the head of direct taxes, Rs91.8 billion under sales tax, Rs34.4 billion under customs and Rs23.5 billion under federal excise duty.

The official was of the view that the target would be achieved easily if the economic growth momentum was maintained during the next quarter. However, due to decline in imports, the customs duty collection had recorded a negative growth in the first quarter.