ISLAMABAD: The Federal Board of Revenue (FBR) surpassed revenue collection target for the month of July with 22 per cent growth and collected Rs200 billion. The Board collected Rs164 billion in the same month last year.
According to FBR spokesperson Dr Muhammad Iqbal, the revenue collected was the provisional target for July. “We are expecting that few more billions will be received when the revenue collection figures are finalised next week,” he added.
The government has projected a revenue collection target of Rs4,013 billion for 2017-18. The breakup shows that the FBR will collect Rs1,594.910 billion under direct taxes and Rs2,418.090 billion in indirect taxes.
Tax-wise breakup showed that the revenue target of income tax was projected at Rs1,577.557 billion, customs duty at Rs581.371 billion, sales tax at Rs1605.200 billion and Federal Excise Duty at Rs231.519 billion for the current fiscal year, respectively.
