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FBR in pursuit of Rs2810b achieves Rs750b in Oct up from Rs661b, records 17% growth

FBR in pursuit of Rs2810b achieves Rs750b in Oct up from Rs661b, records 17% growth

ISLAMABAD: Federal Board of Revenue (FBR), in pursuit of Rs2810 billion target, has collected Rs750 billion during July-October this year against Rs661 billion in corresponding period of 2013-14.

Sources said that during July to October 2014, FBR collected Rs265 billion as direct taxes, Rs355 billion as sales tax, Rs47 billion as federal excise duty and Rs86 billion customs duty.

During the month of October this year, the gross revenue collection stood at Rs180 billion against Rs156 billion FBR collected in October 2013, reflecting a growth of 17 percent. The FBR has paid refunds/rebates of Rs8 billion during the month against Rs4 billion paid in last October.

The gross revenue collection during July-October this year amounted to Rs750 billion against Rs661 billion in the corresponding period of 2013-14. The FBR has paid refunds of Rs29 billion during the period under review against Rs24 billion in the same period of fiscal year 2013. The net revenue collection stood at Rs 724 billion during July-October (2014-15) against Rs 637 billion in the same period of 2013-14, showing a growth of 14 percent.