Performance Report 2007 - Department of Inland Revenue

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Table -03 Cash Flows- 2007 Month Revenue Collection Rs: SRL (RS.) Cumulative Revenue Collection Rs: January-07 22,706,315,593 522,872.31 22,706,838,465 February-07 24,055,427,147 3,735,534.80 46,766,001,147 March-07 20,538,476,396 665,406.21 67,305,142,949 April-07 24,318,955,838 782,558.36 91,624,881,346 May-07 24,614,878,115 92,764,020.40 116,332,523,481 June-07 20,506,064,107 12,227,870.41 136,850,815,458 July-07 25,707,208,267 10,271,752.03 162,568,295,478 August-07 31,610,773,198 236,151,214.85 194,415,219,890 September-07 28,193,115,392 630,333,074.20 223,238,668,357 October-07 29,506,455,866 147,847,097.20 252,892,971,320 November-07 29,439,756,981 236,607,542.30 282,569,335,843 December-07 25,619,169,678 17,021,442.95 308,205,526,964 Chart 02 Cash Flow-2007 350,000 300,000 250,000 Rs: Million 200,000 150,000 100,000 50,000 - 1 2 3 4 5 6 7 8 9 10 11 12 Months Revenue Collection Cummulative Revenue Collection 10
2.3. Income Tax Collection Income tax collection for the year was Rs. 94.96 Billion. This is an increase of 30.99% over that of the previous year. The Income tax collection accounts for 30.52% of the total revenue of the Department. ‣ During the year, several policy measures were introduced to rationalize the income taxes, which gave positive and negative results to the income tax collection. ‣ During the year, gross Income Tax collection from employees (Under PAYE Scheme) recorded Rs. 11.2 Billion. Withholding Tax on Interest at 10% and Specified Fees at 5% generated Rs.25.4 Billion and Rs.9.9 Billion respectively. 2.3.1 Corporate and Non-corporate Income Tax Out of the total collection of Rs.94.96 billion, the contribution from the corporate sector amounted to Rs. 43.45 billion or 45.75 % whereas the non corporate sector contribution amounted to Rs.51.52 billion or 54.25%. Table 04 shows the composition to Income Tax collection, and Chart 03 illustrates the same with percentages. Table - 04 Corporate and Non-corporate Income Tax Collection -2007 Sector Tax Collection (Rs:) % Corporate 43,447,026,332 45.75% Non-Corporate 51,517,948,654 54.25% Total 94,964,974,986 100.00 Chart 03 Income Tax collection 2007 Non- Corporate, 54% Corporate, 46% 11
Page 1 and 2: Performance Report 2007 DEPARTMENT
Page 3 and 4: Department’s Mission • To colle
Page 5 and 6: Mr. V.D.G.P. Ubesiri Senior Commiss
Page 7 and 8: YEAR 2007-Noteworthy Achievements a
Page 9 and 10: downwards to be trained in India, d
Page 11 and 12: CHAPTER 1 HUMAN RESOURCES 1.1 Appro
Page 13 and 14: - SA Programme 23 Mr. R M D Banda P
Page 15 and 16: 5) Seminars conducted: Date Subject
Page 17 and 18: CHAPTER 2 REVENUE COLLECTION The De
Page 19: Table -02 Total Revenue Collection-
Page 23 and 24: 2.3.4 PAYE Returns Filing Complianc
Page 25 and 26: ‣ Supply of prawns, importation o
Page 27 and 28: 2.7 Betting & Gaming Levy Collectio
Page 29 and 30: Type of Tax Table 15 Inland Revenue
Page 31 and 32: CHAPTER 3 EXPENDITURE AND PRODUCTIV
Page 33 and 34: 3.2 Analysis of the Recurrent Expen
Page 35 and 36: CHAPTER 4 TAXES IN DEFAULT Table 19
Page 37 and 38: Affairs related to tax treaties dur
Page 39 and 40: 6.3 Approved Charities The followin
Page 41 and 42: 7.3 Appeals Appeals to the Commissi
Page 43 and 44: Introduction of certain tax benefit
Page 45: DISTRIBUTION OF STAFF, FILES AND RE

Performance Report 2007 - Department of Inland Revenue

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