Latest FBR Releases
The Regional Tax Office, Karachi has shown a remarkable performance as evidenced by the achievement of revenue targets up to the month of March, 2008. Collection out of current and arrear demand stands at Rs. 2126.859m as against Rs. 1202.463 m last year showing a 77% increase as against the collection up to march last year whereas collection of tax at source has also registered a 24% increase as compared to last year with the latest figures at Rs. 55596.061 m. Net Income Tax collection shows an encouraging 19% rise at Rs. 60111.211 m as opposed to last year figures for the month of March at Rs. 50531.917 m. On the whole the total collection including all heads plus CVT and WWF is also in the positive range depicting 17% increase compared to the previous year. The short fall being face under the heads of voluntary compliance i-e: Advance Tax and Payment with returns is being covered with a 5.631b amount to be remitted by the customs authorities under the head “Imports” during the third quarter.