Collection of federal excise duty up 4pc, sales tax 16pc

LAHORE: The Federal excise duty (FED) has increased by 4 percent by going up from Rs 97 billion last year to Rs 101 billion during the current year, the Federal Board of Revenue official sources said.

The collection of sales tax witnessed increase of 16 percent during the period under review by going up from Rs 712 billion last year to Rs 826 during the current year up to March 7, the sources said.

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Likewise, the ustoms duty collections during the period were recorded at Rs 244 billion, as compared to the collection of Rs 183 billion, showing positive growth of 31 percent during the current year.

Rs 708 billion has been collected under the head of income tax, which witnessed an increase of 17 percent as compared to the collection of Rs 605 billion during the corresponding period of last year.

Similarly, the collection of sales tax witnessed increase of 16 percent during the period under review by going up from Rs 712 billion last year to Rs.826 during the current year up to March 7, the sources said.