Re: US, WB experts say Pakistan economic growth has bolstered international confidenc
Tax revenues have more than doubled since Musharraf took power.
**Pakistan July-Mar Tax Revenue Up 19.7% To PKR586.3 Billion **
Pakistan collected PKR586.3 billion ($9.77 billion) in taxes between July and March 2006-07, up 19.7% from the year-earlier period, a government statement said Saturday. The Central Board of Revenue said direct tax revenue during the first nine months of the current fiscal year, begun July 1, totaled PKR233.8 billion, up 53.1% from the previous year. Sales tax collection rose 7.1% on the year to PKR216.7 billion, it said. CBR officials attribute the revenue growth based upon higher profitability in several key sectors of economy. “This growth in taxes is because of better performing banking, telecom and oil and gas sector companies. Moreover, there has been sustaining domestic demand which is helping the board to its and cross its targets,” revenue board Member Salman Nabi said. The board said tax collection through import duties fell to PKR89.3 billion in July-March, down 6.1% from a year earlier, due to low imports. In March 2007, total revenue collection stood at PKR71.3 billion, it said. In the last fiscal year, Pakistan collected a total of PKR713.4 billion in taxes, and the government has set a revenue collection target of PKR835 billion for the current fiscal year. Central Board of Revenue Chairman Abdullah Yusuf told Dow Jones Newswires that the full-year revenue collection is likely to pass that target.