ISLAMABAD: Pakistan’s tax-to-GDP ratio dropped to 11.6 percent in the previous fiscal year 2018-19 from 13 percent in 2017-18 as the tax authorities couldn’t effectively implement measures adopted for revenue collection despite various efforts by the federal government, official data revealed.
Likewise, revenue collection by the Federal Board of Revenue (FBR) for 2018-19 has been recorded at Rs3,829 billion as compared to Rs3,842 billion in 2017-18.
You might also like
Moreover, Rs1,445 billion has been received by the FBR in 2018-19 under direct tax collection while in 2017-18, Rs1,536 billion were achieved.
Furthermore, Rs2,383 billion has been received by the FBR in 2018-19 under indirect tax collection while in 2017-18, Rs2,305 billion were achieved.
The finance ministry’s latest data showed that the share of indirect tax collection in overall revenue in FY19 was amounted at 62 percent as compared to 60 percent in FY18.
On the other hand, the collection of sales tax and customs duty in FY19 stood at Rs1,464 billion and Rs685 billion, respectively. In FY18, sales tax and customs duty collected was Rs1491 billion and Rs608 billion, respectively.
Sources familiar with the matter told the media that inflation statistics are expected to be released today, and inflation is likely to cross 11 percent for the month of August, 2019.
According to a survey conducted on the economic statistics, inflation has been reported to be around 11.3 percent – hitting a seven-year high in August. In June, 2012, the inflation touched 11.26 percent. In July, 2019, it was 10.34 percent and 5.85 percent in August, 2018.
