July-May provisional collection stands at Rs3.534trn

The Federal Board of Revenue (FBR) has provisionally collected Rs3,534 billion during July-May (2019-20) against annual revised target of Rs3,908 billion set for entire fiscal year (2019-20), reflecting an amount of Rs374 billion to be collected in June 2020.
According to the provisional revenue collection data till Saturday night, the tax machinery has been able to collect Rs227 billion during May against Rs330 billion during May 2019, reflecting a decrease of Rs103 billion. Now, the FBR is facing gigantic task for amassing Rs374 billion in last month for achieving downward revised target of Rs3,908 billion till June 30, 2020.
Last year, the FBR had collected Rs518.357 billion during June 2019.
In June 2018, the FBR had collected Rs568.754 billion.
A senior tax official told Business Recorder that, "Yes, we have collected Rs227 billion in May 2020 and the FBR will have to collect Rs374 billion in June for reaching the revised target of Rs3,908 billion in outgoing financial year."
Taking into account FBR performance during last three months, it will be an uphill task for the FBR to achieve the desired tax collection target of Rs3,908 billion, as collection may be around Rs3,850 billion.
The FBR's collection stood at Rs242.4 billion in April 2020 against Rs289.905 billion in April 2019, reflecting a decrease of 16.4 percent.
The tax machinery paid refunds of Rs15.119 billion during April 2020 against Rs6.661 billion in April 2019, reflecting an increase of Rs8.458 billion.
In totality, the FBR paid refunds of Rs116.961 billion during July-April (2019-20) against Rs65.150 billion during the same period of last fiscal year 2018-2019, reflecting an increase of Rs51.811 billion.