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6-month collection: FBR revenue up by 14pc to Rs1,171,868m

6-month collection: FBR revenue up by 14pc to Rs1,171,868m

ISLAMABAD: The FBR’s revenue collection has increased 14 percent to Rs1,171,868 million during the first six months of current financial year 2014-15, against Rs1,081,937 million in corresponding period of last year.

According to the Federal Board of Revenue report, the board realized a gross collection of Rs1,230,376m and at the same time issued refunds of Rs58,508 million during the first six months of current financial year 2014-15, resulting in net collection of Rs1,171,868 million with a 14 percent increase. The data showed that during first six months of the last year, FBR had made a gross collection of 1,031,415 million and after issuance of refunds of Rs56,522 million, the net collection stood at Rs1,031,415 million, indicating a record increase of Rs140,453 million, showing a healthy increase of around 14 percent. According to the spokesman for FBR Shahid Hussain Asad, in December, 2014, the FBR has made a net collection of Rs270,216 million as against net collection of Rs231,539 million during December, 2013, showing an increase of 17pc.

From July, 2014 to December, 2014, FBR made a gross collection of Rs1,230,376 million and issued refunds of Rs58,508 million, resulting in net collection of Rs1,171,868 million, whereas last year during first six months, FBR had made a gross collection of Rs1,081,937 and after issuing of refunds of Rs 56,522 million made a net collection of Rs1,031,415 million, indicating a record increase of Rs 140,453 million which in percentage terms comes to around 14pc.