ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs 1,302 billion during the first five months (July-November) of ongoing fiscal year (2017-18) as compared to Rs 1,089 billion collected during the same period of 2016-17, reflecting an increase of 19.55 percent.
The FBR has recorded a growth of over 24 percent during the month of November 2017 when compared with the same period of the last year. The FBR has provisionally collected Rs 270 billion during the month of November 2017 as compared to Rs 217 billion collected in same period last year (November 2016), reflecting a growth of over 24 percent.
The target for the year has been fixed with an annual increase of 19.2 percent over the previous year. As compared to the required growth of 19.2 percent, the FBR has achieved the growth of over 24 percent in November 2017.
The gross revenue collection during November 2017 stood at Rs 283 billion. After payment of refunds to the tune of Rs 13 billion, the net revenue collection amounted to Rs 270 billion during November 2017. The FBR is confident that the overall collection for first five months (July-Nov) period will cross over 20 percent growth compared to the same period of the last financial year.
