Tax collection over Rs2,455 billion

Tax collection over Rs2,455 billion

ISLAMABAD: Finance Ministry on Wednesday released the data of consolidated fiscal operations Breaking down the tax collection, the report said the Centre had collected a total of Rs2,210 billion, while the provinces’ share was Rs245 billion.

Direct taxes of Rs830 billion were collected, the ministry said, adding that Rs337 billion customs duties were collected during the period.

From July-Dec, the country borrowed a total of Rs1,138 worth of foreign and local loans. During the period, Rs454.45 were taken as foreign loans, while Rs683.39 were domestic loans.

Moreover, Rs918 billion in sales tax, while Rs123 billion were collected in excise duty. A petroleum levy of Rs47.54 billion was accumulated in the six month period.

From July to December, the State Bank of Pakistan’s profit stood at Rs372 billion, the report revealed, adding that the budget deficit has reached Rs1,138 billion.

In the first half of the financial year, the budget deficit was 2.5% of the gross domestic product

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