Business Economy

FBR Collects More Than Rs 2 Trillion Revenues In 7 Months

ISLAMABAD, Jan 31 (APP):Federal Board of Revenue (FBR) has collected revenues of over Rs 2 trillion in first seven months of current fiscal year as compared to Rs 1699 billion collected during same period of the previous fiscal year, recording an increase
of more than Rs 300 billion.
It may be recalled that when the present government took over in 2013, the net revenue collection for the entire year was less than 1.95 trillion, said a statement issued here on Wednesday.
According to provisional data, revenue collection during month of January was also increased by 19 per cent from Rs 228 billion in January 2017 to Rs 272 billion.
The is despite issuing Rs 3 billion more tax refunds in January, 2018 as compared to refunds issued during the corresponding period of previous fiscal year. Moreover, figures of collection received in the treasuries of the remote areas may further swell the revenue figures.
The target for the year has been fixed with an annual increase of around 19% over the previous year.

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