ISLAMABAD, Aug 30: The Central Board of Revenue (CBR) collected Rs52.9 billion revenue during the first two months (July-August) of the financial year 2003-04 against the target of Rs53.5 billion, recording a decrease of 1.12 per cent.

Provisional figures released by the CBR here on Saturday showed that the revenue collection registered a decrease of 0.54 per cent when compared with the last year’s collection of Rs53.192 billion during the same months.

The statistics showed that the revenue collection under the head of sales tax declined by 8 per cent and that of central excise duty (CED) by 22 per cent during the first two months of current financial year over the same period of last year.

It was only the direct taxes and customs duty which registered growth in revenue collection this year over the corresponding period of last year.

CBR spokesman Vakil Ahmad Khan said the CBR expected to collect Rs1 billion or more when the revenue collection figures were finalized in the next 10 days.

The tax authorities collected Rs29.5 billion during the month of August against Rs29.563 billion during the same month last year.

Tax-wise analysis showed that the tax authorities collected Rs12.5 billion under the head of direct taxes in the first two months of the current financial year against Rs11.829 billion of last year, showing an increase of 0.671 per cent.

Under the head of sales tax, the CBR collected Rs24.7 billion during the same period under review against Rs26.848 billion of last year, showing a decline of eight per cent.

The tax authorities collected Rs10.4 billion under the head of customs duty during July-August of the current fiscal against Rs8.464 billion of last year, an increase of 22 per cent.

And the tax authorities collected Rs4.9 billion under the head of central excise duty (CED) during the same period under review against Rs6.05 billion of last year, showing a decline of 19 per cent.