ISLAMABAD: Federal Board of Revenue is struggling hard to achieve the revenue target of current financial year but it seems difficult because in last quarter FBR would have to collect Rs1400 billion to meet the set revenue target for 2017-18.
According to Federal Board of Revenue, during first nine months of the current financial year, the board recorded a provisional net revenue collection of over Rs2621 billion against Rs2260 billion collected during the same period of the previous fiscal year, excluding collection on account of book adjustments.
The current revenue growth rate is less than the expectations of government and FBR high ups. To meet the revenue target FBR will have to show 20% increase in growth rate as compared to last corresponding year.
FBR has recorded an increase of around 16% over the revenue collected during the corresponding period of last fiscal year. The provisional collection for the month of March 2018 was Rs361 billion excluding collection on account of book adjustments.
The figures of collection received in the treasuries of the remote areas may further increase the revenue figures. The revenue collection trend during the first nine months of the financial year augurs well for the efforts of FBR towards achievement of the assigned annual revenue targets.
