The Central Board of Revenue in Pakistan has announced that first quarter tax collection has fallen well short of target, with a shortfall of 9.3% on the same period last year.
The target set for first quarter revenue collection was Rs81 billion, but the CBR has announced that the provisional figures from July to September stand at Rs72.49 billion. However, spokesman for the Central Board of Revenue, Vakil Ahmed Kahn suggested at the weekend that there was still the possibility of netting between Rs4-5 billion in additional direct tax revenue, as the government has extended the income tax filing date to October 1st.
Mr Kahn said however that the four major sources of government revenue, namely income tax, sales tax, excise duty, and customs duty had all registered negative growth as against the same period last year, and blamed the politically and economically unsettled conditions which have come about as a result of the attacks in America and the subsequent 'war on terror'.
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