ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs 2,090 billion taxes against the target of Rs 2100 billion set for the first nine months (July-March) 2015-16.
The FBR is also expected to meet the annual target of Rs 3103.7 billion for 2015-16 against the downward revised target of Rs 2605 billion in 2014-15. The monthly collection is around Rs 290 billion for March 2016, which is likely to be further increased.
The Board collected Rs 286.798 billion in March 2016 as against Rs229.574 billion during the same month last year, an increase of 24.92 per cent. The shortfall of Rs40b witnessed in the first quarter (July-October) of this fiscal year was mostly recovered in the last few months, the official said, adding that it would be brought to nil in the current month (April).
The FBR collected around Rs1.8 trillion during the first eight months (July-February) of this fiscal year.Tax-wise data shows Rs256.9 billion was collected as Inland Revenue tax during the month under review as against the upward revised target of Rs273 billion, reflecting a shortfall of 5.89pc.
The income tax collection stood at Rs123.58 billion in March 2016 as against Rs95.84 billion over the same month of last year, an increase of 28.9pc. The sales tax collection rose 20.4pc to Rs115.44 billion in March 2016 from Rs95.86 billion a year ago.
The federal excise collection reached Rs17.58 billion during the month under review as against Rs15.84 billion over the same month last year, an increase of 10.98pc.
The customs collection reached Rs34.84 billion in March 2016 as against Rs27.064 billion over the corresponding month of last year, showing an increase of 28.7pc. The FBR has paid out an amount of Rs4.6 billion as refund in March 2016.
