ISLAMABAD: The Federal Board of Revenue (FBR) has collected net taxes of more than Rs 814 billion during first four months (July-October) of the current fiscal year as against net collection of Rs 725 billion made last year during the same period showing an increase of 12 percent.
According to the provisional figures, the FBR made a net collection of more than Rs 223 billion during October, 2015 against net collection of Rs 183 billion during the same period of last year, 2014 showing an increase of 22 percent.
During four months, the FBR collected Rs 319 billion under the head of direct taxes, Rs 372 billion in wake of sales tax, Rs 43 billion as federal excise duty and Rs 112 million under the head of customs duty. The total collection stands at Rs 846 billion while FBR issued refunds of Rs 32 billion during first four months so net collection is Rs 814 billion.
The revenue collection trend during the month of October 2015 shows a marked improvement over the trend in the previous three months of the current financial year and augurs well for the efforts of FBR for achievement of the assigned revenue targets for the current year.
