Sales Tax Was The Top Revenue Source of Federal Tax Receipts: FBR
The sales tax remained the top revenue-generating source of the federal tax receipts during the first six months (July-December) of 2020-21, as revealed by the FBR report on revenue analysis.
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The overall sales tax collection had grown by 6.6 percent, and around Rs. 57 billion of a higher amount has been collected during the first half of 2020-21, as compared to the collection in the corresponding period the previous year.
The domestic sales tax collection had recorded a growth of 3.2 percent, and the collection of sales tax on imports had recorded a growth of 9.7 percent.
Within the sales tax, the share on domestic was 46.4 percent and that on import was 53.6 percent during the first half of 2020-21. The share of sales tax domestic has slightly declined as compared to the sales tax import during the period under review.
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During the first half of 2020-21, the collection from the POL products was Rs. 109.8 billion, against Rs. 127.6 billion during the first half of 2019-20, reflecting a negative growth of 14.0 percent, the FBR added.
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