Shahid Asad reveals revenue collection up to mid March

ISLAMABAD: Federal Board of Revenue has collected over Rs 1,440 billion tax during the current fiscal year up to middle of the current month, which is 17 percent higher than Rs 1,239 billion collected in the corresponding period of the previous fiscal year.

FBR Spokesperson Shahid Hussain Asad, while giving breakup of tax collected up to March 15 under various heads, said that Rs 527 billion was collected as Income Tax against Rs 481 billion collected last fiscal year.

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Similarly, Rs 700 billion was collected as Sales Tax against Rs 588 billion collected last fiscal year.

Shahid Hussain Asad, who is also Member Inland Revenue-Policy, said that under the head of Federal Excise Duty Rs 104 billion was collected against Rs 79 billion last fiscal year.

He said the Customs Duty collected till date was Rs 157 billion and the same amount was recovered last fiscal year. He attributed less recovery under this head to less imports.

The spokesperson said some 900,000 tax returns had been filed this year so far.