ISLAMABAD, Nov 15: The revenue receipts have declined by 2.16 per cent during the first four months (July-October) of the current financial year and stood at Rs110.53 billion against Rs112.98 billion revenue collection during the same period last year.

The target set for the first four months of the current fiscal was Rs117.7 billion against Rs112.98 during the same period last year, an increase of 4.17 per cent.

And tax collection during the July-October period stood at Rs110.53 billion against the target of Rs117.7 billion, showing a decline of 6.09 per cent.

Official figures released by Central Board of Revenue (CBR) here on Thursday, showed that revenue under the head of direct taxes registered a growth of only 1.6 per cent and stood at Rs34.22 billion against Rs33.68 billion over the corresponding period last year, while under the head of indirect taxes, the revenue receipt declined by 3.8 per cent to Rs76.31 billion against Rs79.29 billion it netted during the same period last year.

According to final figures, the tax authorities have collected Rs34.22 billion during the July-October period against Rs33.68 billion during the same period last year, registering a marginal increase of 1.6 per cent.

Under the head of sales tax, Rs47.8 billion have been collected this year against Rs43.23 billion over the corresponding period last year, registering a growth of 10.6 per cent.

Similarly, under the head of customs Rs14.88 billion have been collected against Rs19.02 billion during the same period last year, showing a decline of 21.7 per cent.

The tax authorities have collected Rs13.62bn under the head of central excise duty during the first four months against Rs17 billion it netted during the same period last year, showing a decline of 20.1 per cent.

On monthly basis, in October of the current financial year, the revenue receipts stood at Rs33.07 billion against Rs33.04 billion, registering a very marginal growth of 0.09 per cent, but in comparison to the target of Rs36.4 billion for October 2001, it declined by 10.06 per cent.

Moreover, under the head of direct taxes, in October this year, the revenue receipts increased by 0.91 per cent and stood at Rs12.12 billion this year against Rs12.04 billion during the same period last year, while central excise duty decreased by 14.4 per cent.

Under the head of customs the revenue receipt declined by 18.2 per cent in October as it stood at Rs4.05 billion against Rs4.95 billion last year.

However, it was under the head of sales tax that the revenue receipts increased by 12.3 per cent in October and stood at Rs13.19 billion against Rs11.74 billion revenue collection during the same period last year.

Officials source attributed the decline registered during the first four months of the current financial year to the tension in the region.

They said that the sales tax and the withholding tax, which were collected at the import stage, also declined due to the decrease in the dutiable imports in first four months of the current financial year.