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FBR collects Rs3750b against assigned target of Rs3850 of FY 2017-18

FBR collects Rs3750b against assigned target of Rs3850 of FY 2017-18

ISLAMABAD: Federal Board of Revenue (FBR) collected Rs3750 billion of revenue against the assigned target of Rs3850 billion in 364 days of Fiscal Year2017-18.  The FBR still have to achieve Rs150 billion in last day of current Fiscal Year it is learnt here.

Sources told Customs Today that FBR is optimistic to achieve Rs150 billion and the amnesty scheme will help to achieve the yearly target however, Rs150 is a challenging and huge amount to achieve in just 12 hours sources added.

It is also important to highlight here that FBR collected Rs3200 billion from July 1, 2017 to May 21, 2018 of Fiscal Year 2017-18; however, FBR had collected Rs2,600 billion in the same time period of previous Fiscal Year 2016-17, while if FBR succeeded to generate such revenue it will be also all time record sources added.

Sources said that FBR revenue growth has been increased to 16% in these ten months and 21 days of Fiscal Year2017-18. FBR has collected Rs1943 billion in the same time period of FY 2012-13, while FBR has kept eye to achieve Rs3886 billion till 30th June 2018 which will be more than double revenue growth in just five years. However it seems very challenging to achieve such amount in just remaining one day of this fiscal year.