Direct Tax Collection Surges 42% In Apr-Aug Period

Direct tax collection registered increase of 42% for the five-month period ended August 2007.
Net tax collection was Rs 610.30 billion, which was up from Rs 429.80 billion in the corresponding period last fiscal.

Corporate tax filed expansion of 49.49% at Rs 337.66 billion, up from Rs 225.87 billion, during the last fiscal.

Personal income tax comprising FBT, STT and BCTT arose 33.76% at Rs 272.06 billion, against Rs 203.40 billion in 2006.

The development in Securities Transaction Tax (STT) stood at 35.16% and Banking Cash Transaction Tax (BCTT) was 79.73%.

In the fiscal 2007-08, direct tax collections have constantly preserved an increase of more than 40%, reflecting sustained optimism in the financial system, enhanced tax compliance and enhanced tax management.

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