ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs1,458 billion during July-December period of fiscal year 2016-17, showing a 6 per cent growth.
The country’s top revenue authority collected Rs1,372 billion during the same period of previous fiscal year (2015-16). The revenue collection is about 40 percent of the current fiscal year target of Rs 3,621 billion. The FBR will need another Rs 2,163 billion in the remaining period to achieve the said target.
According to latest statistics, the collection of Income Tax grew by 9 percent to Rs 600 billion during July-December 2016 as against Rs 549 billion during the same period of last year. The sales tax collection was almost unchanged at Rs605 billion during the period under review as against Rs604 billion in the last year.
The collection of federal excise duty posted growth of 13.33 percent to Rs85 billion from last year’s Rs75 billion. The collection of customs duty posted 19 percent growth to Rs215 billion during the first six months of current fiscal year as compared with Rs180 billion.
The gross collection of the FBR during the first half of current fiscal year was at Rs1,503 billion out of which the tax authorities issues Rs45 billion refunds.
