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Lahore Tax offices collect Rs260b in 10 months

Lahore Tax offices collect Rs260b in 10 months

LAHORE: Federal Board of Revenue has collected Rs 260 billion on account of income tax, sales tax and excise duty in 10 months of the current Fiscal Year 2013-14 in Lahore region, official sources said.

Large Taxpayers Unit, Regional Tax office I and II collectively gathered the amount under the heads of sales tax, income tax and federal excise duty in the period from July 2013 to April 2014.

An amount of Rs 98 billion was amassed on account of sales tax; Rs 43 billion was collected as income tax; federal and excise duty collection reached Rs 13 billion. In the previous fiscal year Lahore tax offices collected Rs 82 billion on account of sales tax; Rs 35 billion as income tax; and Rs 12 billion as federal excise duty.

FBR’s overall tax collection target has been revised from Rs 2,475 billion to Rs 2270 which will enable the Lahore’s tax offices to achieve their respective targets.