ISLAMABAD: The Federal Board of Revenue (FBR) collection grew 14.28 per cent to Rs200 billion in April 2015 from Rs175bn in the corresponding month last year.
The overall revenue collection during the first 10 months (July-April) of this fiscal year rose 13.18pc to Rs1,975bn from Rs1,745bn in the same period of last year, showed provisional data released by the Pakistan Bureau of Statistics (PBS) on Thursday.
The government has already revised downward the revenue target to Rs2,691bn from Rs2,810bn for 2014-15.
For achieving the revised target, the tax authorities still has to collect Rs716bn in next two months (May-June). The revenue collection in the two months of last fiscal year was Rs521.392bn.
The government is set to miss the revenue target by a big margin for the second consecutive year because of fundamental flaws in the tax machinery which remain almost untouched.
An official in the tax machinery told Dawn that total collection was expected to reach Rs2.5-2.6tr if there is 15pc growth during the last two months of this fiscal year.
The FBR refunded Rs99.728bn during the July-April 2014-15 as against Rs90bn paid in the corresponding period of last year.
Business community was complaining that refunds were mostly withheld under the income tax because the payment of customs and sales tax rebate/refund witnessed a nominal increase. So bulk of the refunds withheld so far was in the income tax.
The collection of sales tax recorded a nominal growth, while customs recorded a double-digit growth during the period under review.
