The Federal Board of Revenue (FBR) announced about 51% of the total Inland Revenue has been increased from 14 main sectors including petroleum production during the first 11 months of the current fiscal year as compare to the same period last year.
According to FBR, Inland Revenue includes income tax, sales tax, and federal excise duty. The total amount collected here comes to Rs 1.767 trillion as compared to Rs 1.441 trillion collected during the same period last year. This shows an increase of 22%.
Rs 577 billion has been collected from POL as compared to Rs 516 billion during the first 11 months of last fiscal year showing an increase of 12%.
From the power sector, an amount of Rs 146.816 billion collected against Rs 114.058 last year during the period under consideration. Here is the increase of 28.7%.
FBR Inland revenue from banks surges 34 percent to Rs 117 billion
From the banking sector, the increase in the revenue collection comes to 34%. The revenue collected from the auto sector comes to Rs 108 billion as compared to Rs 72 billion last year, showing an increase of 51%.
Last year, the revenues collected from the food products were Rs 138.163 which is Rs 163.632 this year, showing an increase of 18.4%.
An amount of Rs 127 billion has been collected from the cement sector during the first 11 months of this financial year as compared to Rs 97 billion last year, indicating an increase of 31%.
FBR collected an amount of Rs 129 billion from the tobacco sector this year as compared to Rs 104 billion last year, showing an increase of 24%.
During the period of first 11 months of this fiscal year, the sugar sector has contributed an amount of Rs 53 billion against Rs 31 billion during the same period last, showing an increase of 74%
The year-on-year growth in revenue collection from the electronic sector has been Rs 62.007 billion, showing an increase of 40.2%, The collection from the beverages sector was Rs 67.297 billion, showing an increase of 22.4%.
From the chemical sector, the amount collected was Rs 75.18 billion with an increase of 19.4%, From steal and iron sectors, Rs 72.697 were collected, showing an increase of 20.2%.
From the plastic sector, Rs 39.148 have been collected, indicating the increase of 18.8% and an amount of Rs.28 82 billion has been received from the paper sector, showing the increase of 8%.