ISLAMABAD: Federal Board of Revenue (FBR) has collected around Rs 209 billion in January 2016 against the target of Rs 205 billion set for the corresponding month.
According to the official statement, FBR collected Rs 209 billion in January 2016 against Rs 171 billion it collected during the same month last year, showing an increase of 22 per cent. The net collection for the current seven months stood at Rs 1,594 billion showing an increase of over 19% from the corresponding period of the previous year.
The revenue collection trend during the first seven months of the financial year augurs well for the efforts of FBR towards achievement of the annual assigned revenue targets.
From July to December, 2015, FBR made a net collection of Rs 1,385 billion as against target of more than Rs 1,390 billion thus falling short by Rs 5 billion.
During the month, not only the assigned target of Rs 205 billion was achieved, Rs 4 billion was also recouped in respect of the shortfall of the previous six months and thus the target for the first seven months has almost been achieved.
FBR was able to achieve the said target despite the challenges of reduced oil prices, drop in commodity prices and low inflation, the statement said.