December 18, 2007	Tuesday	Zilhaj 7, 1428

ISLAMABAD, Dec 17: The Federal Board of Revenue (FBR) collected Rs118 million as withholding tax from CNG stations during the first quarter (July-September) of this fiscal year.

Official figures released here on Monday showed that apparently the collection was on lower side and below the projected estimates.

The country has seen a substantial growth in CNG stations. Oil and Gas Regulatory Authority (Ogra) has reportedly sanctioned over 5,000 CNG stations out of which about 1,400 have started operations.

A 4 per cent withholding tax on the amount of bill issued for consumption of gas by Gas Marketing Companies has been levied in the 2007-08 budget as final discharge of tax liability by the taxpayer.

The FBR collected Rs61.2 million as withholding tax on purchase of new cars during the first quarter, which was on the lower side when compared to projected estimate.

This levy was introduced in order to extend the tax base by forcing potential taxpayers to file returns of income and bring local purchasers of cars at par with importers.