Tax collection during Jul-Oct 2014-15 increased

The statistics revealed by FBR negated government’s claim that sit-ins restriction in economic growth as it has provisionally collected Rs 724 billion during July-October (2014-15) against Rs 637 billion in corresponding period of 2013-14, reflecting a growth of 14 per cent.

The break-up of gross revenue collection the first four months of current fiscal disclosed that direct taxes collection was Rs 265 billion in during July-October (2014-15) against Rs 222 billion in July-October 2013-14; sales tax Rs 355 billion against Rs 325 billion; federal excise duty Rs 47 billion against Rs 44 billion and collection of customs duty was Rs 86 billion against Rs 71 billion in the corresponding period of last fiscal.

Meanwhile, during the month of October 2014, the gross revenue collection stood at Rs 190.59 billion against Rs 160 billion in October 2013.