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FBR collects Rs216b during FY2018-19

FBR collects Rs216b during FY2018-19

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs215 billion (provisional assessment) against the set target tax revenue target of Rs291 billion and faced Rs.76 billion revenue shortfall.

According to the FBR sources, tax revenue collection has showed only 6.1 percent growth as compared to last years, which is not enough to meet the set target of tax revenue collection of the current financial year.

According to sources FBR has collected Rs41 billion in the head of customs duty. Likewise FBR has collected Rs103 under the head of sales tax and Rs62 billion in the head of direct taxes.

Federal Board of Revenue has collected Rs8.5 billion in the head of federal excise duty (FED). Sources told that it is huge gap and it seems difficult for FBR to meet the revenue target of tax revenue of first quarter of the current financial year which is imperative according to the set conditions with IMF.