Second quarter: FBR tops tax collection target by Rs35 billion
The target for the second quarter has therefore been surpassed by around Rs35 billion
PHOTO: FILE
ISLAMABAD:
The Federal Board of Revenue (FBR) has made a net collection of around Rs785 billion against the target of Rs750 billion fixed for the second quarter from October to December, 2015, the board said in a statement issued on Sunday.
The net collection for the first six months of current fiscal year stood at Rs1,385 billion, showing an increase of 19% from the corresponding period of the previous year, FBR said.
FBR’s entire core team reshuffled
The target for the second quarter has therefore been surpassed by around Rs35 billion. The revenue collection trend during the quarter October-December, 2015 augurs well for the efforts of FBR towards achievement of the annual assigned revenue targets, said the statement.
From July to September, 2015, FBR made a net collection of Rs600 billion as against target of more than Rs640billion thus falling short by Rs40 billion. During the second quarter, not only the assigned target of Rs750 billion was achieved but Rs35 billion was also recouped in respect of the shortfall of the previous quarter.
Bureaucracy blocks vital reforms in FBR
Finance Minister Ishaq Dar has appreciated FBR's performance, despite the challenges of reduced oil prices, drop in commodity prices and low inflation. The minister commended the FBR on not only for achieving the revenue target but also surpassing by a substantial margin.
Published in The Express Tribune, January 4th, 2016.
The Federal Board of Revenue (FBR) has made a net collection of around Rs785 billion against the target of Rs750 billion fixed for the second quarter from October to December, 2015, the board said in a statement issued on Sunday.
The net collection for the first six months of current fiscal year stood at Rs1,385 billion, showing an increase of 19% from the corresponding period of the previous year, FBR said.
FBR’s entire core team reshuffled
The target for the second quarter has therefore been surpassed by around Rs35 billion. The revenue collection trend during the quarter October-December, 2015 augurs well for the efforts of FBR towards achievement of the annual assigned revenue targets, said the statement.
From July to September, 2015, FBR made a net collection of Rs600 billion as against target of more than Rs640billion thus falling short by Rs40 billion. During the second quarter, not only the assigned target of Rs750 billion was achieved but Rs35 billion was also recouped in respect of the shortfall of the previous quarter.
Bureaucracy blocks vital reforms in FBR
Finance Minister Ishaq Dar has appreciated FBR's performance, despite the challenges of reduced oil prices, drop in commodity prices and low inflation. The minister commended the FBR on not only for achieving the revenue target but also surpassing by a substantial margin.
Published in The Express Tribune, January 4th, 2016.