Sunday , October 13 2019
Breaking News
Home / Islamabad / PM Imran shows displeasure over 6pc growth in revenue collection
PM Imran shows displeasure over 6pc growth in revenue collection

PM Imran shows displeasure over 6pc growth in revenue collection

ISLAMABAD: Prime Minister Imran Khan and Finance Minister Asad Umar showed dissatisfaction over the poor performance of tax revenue collection by the Federal Board of Revenue.

According to the details, Finance Minister has directed to the Chairman FBR to enhance the enforcement efforts. The Federal Board of Revenue has collected Rs1,725 billion in six and a half months (July to 15th January) of current financial year(2018-19) as compared to Rs1,305.6 billion collected during the same period last financial year (2017-18).

There is only 5.9 percent growth in tax revenue collection while FBR need to 17 to 20 percent growth in tax revenue collections to achieved the current financial year revenue targets.

Once again Customs has showed tremendous performance and revenue collected Rs355.5 billion in the head of Customs duty as compared to same period in last financial year (2017-18) Rs305.9 billion.

The FBR revenue figures showed 20.8 percent growth in customs duty. While there is slightly 0.4 percent increase in Direct Taxes, FBR has collected 476.8 billion as compared to same period during last financial year Rs475.1 billion.

FBR collected Rs.558.7 billion in the head of sales tax as compared to same period in last financial year Rs.538.4 billion. There is 3.8 percent growth in sales tax collection. While FBR collected Rs76.9 billion in the head of Federal Excise duty as compared to same period 2017-18 Rs68.2 billion. There is 12.8 percent growth in collection of FED. The total revenue collection has been growing at about 6%.