ISLAMABAD: The Federal Board of Revenue showed a record revenue growth of 26 percent in January 2014 by collecting Rs168bn against Rs132bn collected in January 2013.
The Board collected Rs1,199 billion during the first seven months (July-Jan) of this fiscal year against the projected target of Rs1,268bn, recording a shortfall of Rs69bn. The revenue collection remained Rs1,020b in the same period last fiscal year.
FBR official spokesperson Shahid Husain Asad said that January data shows that collection will further improve in remaining months of this fiscal year. He said these are provisional figures which will increase in next couple of days.
Provisional data showed that direct tax collection reached to Rs439b in July-Jan 2013-14 as against Rs385.523b in the same period last year, showing an increase of 13.87pc.
The sales tax collection rose 21.65pc to Rs564.68b in July-Jan 2013-14 compared to Rs464.155b in the corresponding period last year.
The FED collection increased by 14.4pc to Rs69.73b as against Rs60.918b the same period last year.
A growth of 2.3pc was recorded in collection of customs duties as revenue collection stood at Rs129.088b as against Rs126.178b last year.
