Business

FBR sets Rs.676.9bn as revenue collection target for Q2

ISLAMABAD: The Federal Board of Revenue (FBR) has set revenue collection target of Rs 676.9 billion for second quarter (Q2) of the fiscal year 2014-15, ARY News has learnt.

During the first quarter (July-September), FBR has provisionally collected Rs. 549 billion and keeping in view the target of Rs 2,810 billion for the current fiscal year the target for second quarter (October-December) has been fixed at Rs. 676.9 billion.

According to sources, the monthly target for October 2014 has been fixed at Rs. 196.4 billion.

Rs 549 billion were collected during the first quarter of current fiscal year against Rs 481 billion in the corresponding period of 2013-14. However FBR missed the quarterly target of Rs. 569 billion assign for Q1 of FY 2014-15.

The provisional figures compiled by the board stated that Rs 230 billion was collected in September 2014 against Rs 202 billion in September 2013, showing an increase of 14 percent.

In order to achieve the tax collection target of Rs. 2810 billion, the government requires a growth of at least 24 per cent.

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