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Q1 REVENUE COLLECTION REACHES US$1.6 BLN IN PAKISTAN.
KARACHI, Jan 1 Asia Pulse - Tax collected by the Central Board of Revenue in the first quarter of FY2004 stood at Rs94.1 billion (US$1.6 billion), slightly above the quarterly target of Rs92.2 billion but only 18.4 per cent of the total FY04 target of Rs510 billion.
"This meagre growth in tax collection is significantly lower than the average growth of 8.5 per cent seen during the previous five years," the SBP report said.
"This does not bode well for the annual target" because historically "weak Q1 growth in tax collections has typically also accompanied by relatively ...
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