ISLAMABAD: The Federal Board of Revenue (FBR)during the first ten months of the current financial year has recorded a provisional net revenue collection of over Rs2,922 billion as against Rs2,513 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 per cent.
The increase is despite Rs68 billion in tax refunds issued during 2018 as compared to Rs53 billion refunds issued during the corresponding period of the previous fiscal year recording an increase of 28 per cent.
The provisional collection for the month of April 2018 is Rs295 billion excluding collection on account of book adjustments as against Rs252 billion collected during the corresponding month of the previous fiscal year.
FBR has recorded an increase of over 17 per cent over the revenue collected during 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 the achievement of the assigned revised annual revenue targets.