ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs20 billion more against the target of Rs750 billion, set by the International Monetary Fund for second quarter (October to December).
According to FBR Spokesperson Dr Mohammad Iqbal, the top revenue authority collected Rs770 billion during second quarter of the current fiscal year.
FBR collected Rs1,370 billion during first six months (July-December) of the ongoing fiscal year. The Board had missed the first quarter target of Rs640 billion by Rs40 billion, after which the government imposed new taxes on luxury items. The IMF had set quarterly revenue collection targets of Rs640 billion for July-September, Rs750 billion for October to December, Rs716 billion for January to March and Rs998 billion for April to June to achieve mammoth annual target of Rs3104 billion.
