ISLAMABAD, June 30: The revenue collection exceeded the annual target by Rs10.3 billion during the year fiscal 2005-06 to reach Rs700.3 billion as against the target of Rs690 billion.

Official figures released here on Friday by the Central Board of Revenue showed that the revenue collection registered a growth of 18.6 per cent during the year under review when compared with the last year’s collection of Rs590.4 billion.

The CBR expects that the collection will increase further when the revenue figures for June are finalized in next few days.

The tax-wise break-up showed that direct tax revenue (income tax) increased by 18.4 per cent to Rs217 billion as against Rs183.4 billion last year.

The collection under the head of sales tax reached Rs291.1 billion as against Rs238.5 billion last year, indicating an increase of 22 per cent. Of these, sales tax collected at the import stage increased from Rs144.8 billion to Rs169.8 billion, showing an increase of 17.2 per cent. Similarly, sales tax on domestic production and sales went up from Rs93.7 billion to Rs121.3 billion, indicating a growth of 29.4 per cent.

The collection on account of customs duties stood at Rs134.9 billion during the year 2005-06 as against Rs115.4 billion last year, indicating a growth of 16.9 percent.

The collection of federal excise duty has increased by 8.3 per cent to Rs57.5 billion as against Rs52.906 billion last year.