ISLAMABAD: The Federal Board of Revenue collected Rs 233.7 billion in October, but missed the target by over Rs 22 billion.
The revenue authority could not achieve the target of Rs 256 billion set for the corresponding month as it has already witnessed a shortfall of Rs 59 billion in July-Sept.
According to an official, the revenue collection in October grew by 3.6pc on a year-on-year basis. He said that the FBR will receive additional revenues from sales tax and withholding tax at the import stage in the next few days.
The collection of income tax amounted to Rs 80.5 billion in October against Rs 74 billion in the corresponding period a year ago, showing an increase of 8.8pc.
The collection of sales tax clocked up at Rs 104.12 billion during the month under review against Rs 104.87 recorded a year ago, reflecting a nominal decline. No annual growth was seen in the federal excise duty collection, as it remained flat at Rs 15.3 billion in October.
In contrast, the customs collection fell to Rs 33.7 billion in October against the target of Rs 35 billion, reflecting a shortfall of 3.7pc. Negative growth in the customs collection appears to be on the back of newly imposed regulatory duties on hundreds of items.
Meanwhile, the government has already directed the Chief Commissioners of Large Taxpayers Units (LTUs) and Regional Taxpayers Office (RTOs) to expedite efforts for achieving the assigned revenue collection target of Rs 3,621 billion for 2016-17 as target would not be revised downwards.
