ISLAMABAD: Federal Board of Revenue (FBR) collected Rs247 billions of tax revenue during the first month (July) of current fiscal year 2018-19 against assigned target of Rs224.2 billion.
Sources told Customs Today that the board has received Rs22.8 billion more than the target assigned during July while the revenue collected for July 2018 is 16% more than the collection of previous year for the same period. However, the board has failed to achieve the assigned target under the head of sales tax (ST) and federal excise duty (FED).
Meanwhile in the head of income tax (IT) and customs duty (CD) the board has surpassed the assigned revenue collection target sources added.
Moreover sources told that the board has collected Rs91.5 billion in the head of income tax against the assigned target of Rs64.195 billion surpassed by Rs. 27.30 billion during July 2018 which is 17.5% extra than collected during July 2017 where the board has collected Rs77.63 billion of income tax.
On the other hand the board has collected Rs96 billion in the head of sales tax against the assigned target of Rs107.1 billion faced decreased of Rs11.1 billion during July 2018, the board has collected Rs93.53 billion during July 2017.
Meanwhile the board has collected Rs8.6 billion in the head of FED against the assigned target of Rs9.54 billion during July 2018 while the board has collected Rs51 billion in the head of customs duty against the assigned target of Rs43.53 billion showing increase of Rs7.64 billion during July 2018. It is also important to mention here the board has also issued Rs10.1 billion of refunds during the month of July 2018.
