ISLAMABAD: Federal Board of Revenue (FBR) has made a net collection of more than Rs. 223 billion, as against net collection of Rs. 183 billion made last year showing an increase of 22% during the month of October, 2015, according to the provisional figures FBR.
It is expected that the final collection would further increase when the final figures are received. The revenue collection trend during the month of October 2015 shows a marked improvement over the trend in the previous three months of the current financial year and augurs well for the efforts of FBR for achievement of the assigned revenue targets for the current year.
From July, 2015 to October, 2015, FBR made a net collection of more than Rs. 814 billion as against net collection of Rs. 725 billion made last year resulting in an increase of 12%. This is after having issued refunds of Rs.32 billion as against Rs. 29 billion issued during first four months of last year.
2,93,124 Income Tax Returns have been received electronically by 5:00 PM on 31st October, 2015 which represents a substantial increase over 117217 returns electronically filed last year by 31st October, 2014.
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