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Federal Board of Revenue during first ten months of the current financial year has recorded a provisional net revenue collection of over Rs. 2922 billion as against Rs. 2513 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 increase is despite Rs 68 billion tax refunds issued during 2018 as compared to 53 billion refunds issued during the corresponding period of previous fiscal year recording an increase of 28%.
The provisional collection for the month of April 2018 is Rs 295 billion excluding collection on account of book adjustments as against Rs 252 billion collected during the corresponding month of the previous fiscal year. FBR has recorded an increase of over 17% over the revenue collected during the April, 2017. The figures of collection received in the treasuries of the 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