Revenue collection rises to Rs637bn

revenue-collection-rises-to-rs637bn

Revenue collection rises to Rs637bn ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs637.1 billion in the first quarter of the current fiscal year, a growth of six per cent compared to Rs600.2bn a year earlier, according to provisional figures.

However, the FBR failed to meet the target set for the July-September quarter. Tax officials were not willing to share the exact figure of target.

The amount of rebates fell 51pc to Rs19.8bn during the quarter from Rs40.338bn a year earlier, which suggests that the FBR has also withheld refunds to show positive results.

The tax-collecting authority generated Rs251.8bn in income tax compared to Rs255.59bn a year ago, a decline of 1.4pc. The sales tax collection fell 1.2pc to Rs271.5bn in July-September from Rs274.913bn in the same period of the last year.

The federal excise duty collection stood at Rs31.2bn during the quarter under review as against Rs27.484bn a year earlier, an increase of 13.5pc.

The customs collection reached Rs102.4bn in July-September as against Rs82.554bn a year earlier, indicating an increase of 24pc.

Source: http://www.dawn.com/news/1288241/revenue-collection-rises-to-rs637bn

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