FBR almost meets H1 revenue target; collects Rs2,204b
ISLAMABAD: The Federal Board of Revenue (FBR) has almost achieved its six-month (July-December) revenue collection target for the current fiscal year as it collected Rs2,204 billion, which is 99.7 percent of the set target of Rs2,210 billion. The FBR on Friday released the provisional revenue collection figures for the first six months of the current fiscal year. According to the provisional information, the FBR collected a net revenue of Rs2,204 billion, which is 99.7 percent of the target. It also showed a growth of 5 percent over Rs2,101 billion which were collected during the same period of the last financial year. Income Tax collection for July to December stood at Rs816 billion. Similarly, collection of Sales Tax, Federal Excise Duty, Customs Duty remained Rs915 billion, Rs127 billion and Rs336 billion respectively. Moreover, an additional Rs10 billion have been collected from book adjustment. It is expected that revenue to be collected from book adjustment will increase in coming days. For the month of December only, the total collected revenue stood at Rs508 billion, which was 97.7 percent of the target of Rs520b and showed a growth of 8.3 percent against Rs469b collected in last December. There is an increase of Rs39 billion in the revenue collection of December 2019. This is the highest monthly growth during July-December period. - TLTP