OUR STAFF REPORTER ISLAMABAD - The Federal Board of Revenue (FBR) has surpassed the quarterly revenue collection target during the first quarter (July-September) of the ongoing financial year 2011-2012, as it collected Rs 373.82 billion in the period under review against the target of Rs 363 billion. According to the latest revenue figures released on Tuesday, the FBR has provisionally collected Rs 373.82 billion in July-September 2011, which is 27.4 per cent higher than the collection of Rs 293.47 billion in the same period last year. The officials of the FBR believed that achievement of tax collection target during the first quarter of the current fiscal year would prove helpful in achieving the annual tax revenue collection target of Rs 1952 billion during the current financial year. It is worth mentioning here that FBR has faced severe criticisms regarding the tax collection target of Rs 1952 billion set for the current fiscal year. The economists and even officials of the Finance Ministry and FBR have believed that the target of Rs 1,952 billion might not be achieve after the revenue collection figures fudging episode. The government has fixed the tax collection of Rs 1,952 billion at the basis of Rs 1,588 billion. However, as the FBR has failed faced a shortfall of Rs 38 billion as it achieved Rs 1,550 billion. Therefore to fulfil the shortfall of Rs 38 billion, the government is considering several options. Therefore, the achievement tax collection target during the first quarter of the year 2011-2012 would provide help in collecting the annual revenue collection target of Rs 1,952 billion. According to the break-up of Rs 373.82 billion, the FBR has accumulated Rs 331.31 billion as domestic taxes and Rs 42.51 billion as customs duty during the first quarter of the year 2011-12. Meanwhile, in domestic taxes, the tax department has collected Rs 122.189 billion as direct taxes in July-September 2011 period against the Rs 95.72 billion during July-September 2010 period that shows an increase of over 27 per cent. Similarly, the Sales Tax collection has increased by 35 per cent, as Sales Tax collection has recorded at Rs 180.42 billion during the first quarter of the current fiscal year against the Rs 133.70 billion of the same period last year. According to the figures, FBR has accumulated Rs 28.71 billion as Federal Excise Duty (FED) in July-September period of the year 2011 against the Rs 26.911 billion of the periods July-September 2010. Meanwhile, the collection of Customs Duty has increased by over 27 per cent, as FBR has collected Rs 42.51 billion in the first quarter of the year 2011-12 as Customs Duty against the Rs 37.17 billion of the same period previous year. On the other hand, tax collection in September has recorded at Rs 145.07 billion against the Rs 116.41 billion of the same month last year that registered an increase of over 24 per cent in one year.