19 Sep 2016

More tax comming in

In August, the PMI numbers showed strength however, with Manufacturing reporting 52.6 and Services maintaining strength with a rise to 54.7. The impact and volatility of food prices in the CPIU index can be seen from the latest reported numbers: overall CPI was 6.1% in July, driven heavily be vegetable and pulse prices. In August, CPI retreated by a full percentage point to 5% as vegetable prices fell sharply while pulses moderated. Direct tax collection grew robustly in the first quarter, rising by 15% to $28bn on accelerating personal income tax collection. Indirect taxation grew even more strongly, by 27.3% to $50.8bn driven by growth and excise collection.

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