Daily Times

KARACHI: The Excise and Taxation Department has collected Rs 41,647 million worth of taxes during the July 2016 to March 2017 fiscal year, officials of the Department confirmed.

The department had projected a tax collection target of Rs 52,610 million and there was a possibility that it would touch around Rs 60 billion in the remaining last quarter of the 2017 fiscal year.

The department has achieved more than 79 percent of the tax collection target and efforts were being continued to go above the target figures, officials reported.

The department has so far received taxes worth Rs 4,445.341 million on motor vehicle tax (76.6 percent), Rs 2,479.573 million on excise enactment tax (52 percent), Rs 29,587.598 million on infrastructure tax (78 percent), Rs 32,666.679 million on infrastructure cess utilised of bank guarantee (86 percent), Rs 147.802 million on cotton fee (29.5 percent), Rs 276.613 million on professional tax (67 percent), Rs 1,592.204 million on property tax (53 percent) and Rs 38.366 million on entertainment duty (38 percent) upto March 2017, according to the department collection.

During March 2017, the department collected Rs 582.327 million motor vehicle tax, Rs 134.791 million excise enactment tax, Rs 3,150 million infrastructure tax, Rs 3,505 million infrastructure cess utilised of bank guarantee, Rs 1.591 million Cotton fee, Rs 16.558 million professional tax, Rs 108.629 million property tax and Rs 3.674 million entertainment duty.

In the previous fiscal year, the department collected Rs 5,190.379 million motor vehicle tax, Rs 3,913.954 million excise enactment tax, Rs 32,064.384 million infrastructure tax, Rs 36,014.215 million infrastructure cess utilised of bank guarantee, Rs 156.072 million cotton fee, Rs 346.119 million professional tax, Rs 1,891.761 million property tax and Rs 46.613 million entertainment duty, the officials concluded.