KARACHI, Jan 25: Member Direct Tax Central Board of Revenue (CBR) Vakil Ahmed Khan said on Friday that revenue collection for December has exceeded target by Rs3.5 billion to Rs21 billion.

He was speaking at the inauguration of NTN certificate centre here at Income Tax Building. Regional Commissioner Income Tax and other senior officers were also present on the occasion.

He said that the collection target for December 2001 was Rs17.5 billion.

Mr Khan said that CBR has exceeded its December target of Rs17.5 billion by collecting Rs21 billion despite paying 54 per cent higher refunds against the same period last year.

He pointed out that the downward revision of revenue target from Rs429.7 billion was related mostly to indirect taxes since that was considered necessary to rehabilitate and accelerate exports.

There will be hardly any substantial reduction in the collection target for direct taxes that is Rs142 billion, he said.

He made it clear that national tax number (NTN) certificate will be issued within 72 hours to applicants. Any amendment or change of address in the existing NTN certificate will be made within 24 hours and added that any lapse in this regard should be reported to the regional commissioner.

Now Karachi and Lahore offices will also issue NTN certificates.—APP