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FBR registers 11.4% growth during 2017-18

Federal Board of Revenue during 2017-18 has recorded a provisional net revenue collection of over Rs. 3751 billion as against Rs. 3368 billion collected during previous fiscal year, excluding collection on account of book adjustments for June, 2018.

FBR has also recorded an increase of around 11.37% over the revenue collected during last fiscal year. Federal Board of Revenue has also issued Rs 45 billion more refunds than the previous year.

Annual assigned revenue targets for Inland Revenue Service and Customs were Rs 3335 billion and Rs 600 billion, respectively. Whereas, Customs has surpassed its target by Rs 6 billion, Inland Revenue fell short by Rs 190 billion. Tax-wise break-up of revenue collected is as under:

 

 

 

Assigned Target

Collection

Excess/(Shortfall)

(Rs in billions)

Income Tax

1562

1441

(121)

Sales Tax

1541

1488

(53)

Federal Excise

232

216

(16)

Inland Revenue

3335

3145

(190)

Customs duty

600

606

6

FBR Target

3935

3751

(184)

The collection of Rs 3751 billion does not include Rs 90 billion received on account of foreign and domestic amnesty schemes.