The Federal Board of Revenue (FBR) has provisionally collected over Rs2,922 billion during July-April (2017-18) against Rs2,513 billion collected during the same period of the fiscal year 2016-17, reflecting an increase of over 16 percent.
According to the data of provisional revenue collection issued here on Monday, the increase is despite Rs68 billion tax refunds issued during 2018 as compared to Rs 53 billion refunds issued during the corresponding period of previous fiscal year, recording an increase of 28%.
The FBR during the first ten months of the current financial year has recorded a provisional net revenue collection of over Rs 2,922 billion as against Rs2,513 billion collected during the same period of the previous fiscal year, excluding collection on account of book adjustments, which depicts an increase of over 16%.
The provisional collection for the month of April 2018 is Rs295 billion excluding collection on account of book adjustments as against Rs252 billion collected during the corresponding month of the previous fiscal year. The FBR has recorded an increase of over 17% over the revenue collected during the April 2017. The figures of collection received in the treasuries from remote areas may further swell the revenue figures.
The revenue collection trend during the first ten months of the financial year augurs well for the efforts of FBR towards achievement of the assigned revised annual revenue targets.
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