Tax revenue: FBR collects Rs1.4 trillion
FBR was determined to issue notices to non-compliant persons
The Federal Board of Revenue (FBR) has collected Rs1.4 trillion in taxes up to January 5 of the current fiscal year 2015-16, exhibiting a 19% year-on-year growth, a senior official of the board said.
In the same period last year, the FBR collections amounted to Rs1.115 trillion.
Member Strategic Planning Reforms and Statistics and FBR spokesman Dr Muhammad Iqbal said the FBR had performed well in tax collection with over 19% increase so far compared to the same period of last fiscal year.
The spokesman said, “We have made a net collection of around Rs785 billion against the target of Rs750 billion for the second quarter (October-December).” The net collection for the first six months stood at Rs1.385 trillion, he added.
He said the FBR was determined to issue notices to non-compliant persons. During the second quarter, not only was the assigned target of Rs750 billion achieved but Rs35 billion was also recouped in respect of the shortfall in the previous quarter, he added.
Published in The Express Tribune, January 8th, 2016.