ISLAMABAD, Oct 31: The Central Board of Revenue has provisionally collected Rs30.2 billion during the first month of the second quarter (Oct-Dec) of the current financial year against Rs33.1 billion it netted during the same period last year, showing a visible shortfall of 8.76 per cent.
The target set for October of current fiscal was Rs36.4 billion against Rs33.1 billion over the corresponding span last year, an increase of 9.96 per cent.
And tax collection during October, 2001 stood at Rs30.2 billion against the target of Rs36.4 billion, showing a decrease of over 17 per cent.
When contacted, member direct taxes and CBR official spokesman, Vakil Ahmed Khan told Dawn by telephone that still there was a possibility of Rs1 to 2 billion tax collection under the head of direct taxes.
He, however, admitted a shortfall of Rs2 to 3 billion during the first month of the second quarter.
Justifying the decline in the import receipts, Mr Khan attributed it to the tension in the region. Sales tax and withholding taxes, which were collected at the import stage, also declined due to the decrease in the dutiable imports during the first month of the second quarter, the spokesman added.
The provisional figures compiled by the CBR till Wednesday, revealed that during the first month of the second quarter all the four major sources of revenue — direct taxes, sales tax, customs and central excise — registered a negative growth.
During October the import duty declined by 24 per cent, direct taxes by 8.33 per cent, central excise duty by 21 per cent, while no tangible growth was registered under sales tax in comparison to the same period last year.
Out of Rs30.2 billion provisional tax collection, the tax authorities have so far collected Rs11 billion under the head of direct taxes against the target of Rs13.8 billion set for October 2001, registering a negative growth of 20.28 per cent or Rs2.8 billion, and Rs3.8 billion have been collected under customs as against Rs5.3 billion, showing a shortfall of 29 per cent or Rs1.5 billion.
Similarly, under the head of sales tax Rs12 billion have been collected against the target of Rs13.3 billion, registering a decline of 9.77 per cent or Rs1.3 billion, while under the central excise duty Rs3.4 billion have been collected as against the target of Rs4 billion, showing a negative growth of 15 per cent or Rs0.6 billion.
The CBR has collected Rs77.45 billion in the first quarter (July-Sept) of the current financial year as against the target of Rs81.3 billion set for the first quarter, registering a negative growth of 4.73 per cent or Rs3.3 billion.