FBR tax collection showing upward trajectory

Islamabad
Federal Bureau of Revenue (FBR)'s collection in shape of sales tax at domestic stage went up by Rs3 billion in current fiscal compared to the same period of the last financial year.
The FBR's tax collection on account of sales tax at domestic stage stood at Rs238 billion in July-Dec period of the current fiscal year against net collection of Rs235 billion in the same period of the last financial year.
The gross revenue collection of sales tax was standing at Rs536 billion in first six months and after paying refunds of Rs22 billion the net collection stood at Rs513 billion in ongoing fiscal year. The gross sales tax collection was standing at Rs500 billion in the same period of last financial year and after repaying refunds of Rs18.977 billion the net collection was standing at Rs481 billion last year.
In shape of direct taxes, the FBR collected Rs458.922 billion after paying refunds of Rs30 billion in the first six months of the current fiscal against a collection of Rs381.983 billion in the same period of the last financial year.
The FBR's collection in shape of Federal Excise Duty (FED) stood at Rs63 billion during first six months of the current fiscal year compared to collection of Rs57.660 billion in the same period of last financial year.
The FBR's collection in shape of customs duty was standing at Rs135 billion in first six months of FY 2014-15 against collection of Rs110 billion in the same period of last financial year.
According to press statement issued by the FBR here on Thursday, the FBR has collected Rs1,171.868 billion during first six months (July-Dec) period of the current fiscal year against a collection of Rs1,031.415 billion in the same period of previous fiscal, registering an increase of 14 percent.
During the month of December, 2014, the FBR has made a net collection of Rs270,216 million as against net collection of Rs231,539 million during December, 2013, showing an increase of 17%. From July, 2014 to December, 2014, the FBR made a gross collection of Rs1,230,376 million and issued refunds of Rs58,508 million, resulting in net collection of Rs1,171,868 million, whereas last year during first six months, the FBR had made a gross collection of Rs1,081,937 million and after issuing of refunds of Rs56,522 million made a net collection of Rs.1,031,415 million, indicating a record increase of Rs140,453 million which in percentage terms comes to around 14%.