Summary FBR target for second quarter of current financial year has surpassed by around 35 billion rupees
ISLAMABAD (Dunya News) – Federal Board of Revenue (FBR) has made a net collection of around 785 billion rupees against the target of 750 billion rupees fixed for the second quarter of the current fiscal year, reported Dunya News.
According to details, FBR target for the second quarter from October to December of current financial year has therefore been surpassed by around 35 billion rupees. Finance Minister Ishaq Dar announced special relief package for the employees of FBR. The net collection for the first six months of current fiscal year stood at 1,385 billion rupees, showing an increase of 19% as compared to the corresponding period of the previous year.
Also read: Expedite efforts to achieve tax-collection targets, Dar tells FBR
Finance Minister Ishaq Dar has advised the Federal Board of Revenue (FBR) to take all possible steps in order to meet the tax collection targets for the current fiscal year. According to FBR’s accounts, the board still needs to recover Rs. 716 billion within next 2 months in order to meet the target, reported Daily Dunya.
According to FBR, tax collection during the first 10 months of the current fiscal year was Rs. 19.75 trillion, an increase of 13% compared with the last year. Last year, tax collection during the same period was Rs. 17.45 trillion. Rs. 200 billion were collected during the month of April.
According to sources, FBR faces the challenge of collecting the tax-collection target of Rs. 26.91 trillion and it is still short by Rs. 716 billion with only two months remaining in the fiscal year.
Moreover, Finance Minister has directed in his meeting with the FBR officials that efforts should be expedited to meet the tax-collection target of the current fiscal year.
