ISLAMABAD, Pakistan News: The Federal Board of Revenue has collected a revenue amounting to Rs. 577.337 billion during first half of the year of the current financial year, as against Rs.553.833 billion collected during the same period of last year, showing an increase of 4.2 percent.
The revenue collections from July-December included Rs.208.594 billion as Direct Taxes and Rs.368.743 billion as indirect taxes, Asrar Raouf, Spokesman to FBR and Member Direct Tax policy told APP here on Wednesday.
He said that as compared to Rs.210.336 billion direct taxes collected during last year, the collection during the current witnessed negative growth of 0.8 percent.
However, the indirect taxes witnessed positive growth of 7.3 percent when compared the collections of Rs.343.497 billion the last year, Raouf added.
The Spokesman FBR said that during month of December of current financial year provisionally Rs.120 billion have been collected against the target of Rs.125 billion.
Had the Karachi Ashura incident not occurred the FBR could realize Rs.130 billion against the target of Rs.125 billion for the month of December, he remarked.
He said that if the advance tax of Rs.32 billion is included in the total tax collection could exceed to Rs.600 billion.
Replying to a question, he said that draft Value Added Tax (VAT) has been submitted in the parliament for approval.
He expressed the hope that after the approval of the VAT country could be able to collect in the first year of implementation an additional amount of Rs.150 billion.
However, he said that International Monetary Fund (IMF) observes that after the implementation of the VAT, Pakistan would be able to fetch an additional tax collection of Rs.400 billion.
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