FBR achieves five-month tax target
- By Web Desk -
- Dec 01, 2020
ISLAMABAD: The Federal Board of Revenue (FBR) has achieved its five-month target with a total tax collection of Rs1.686 trillion during the first half (July-November) of this fiscal year.
The revenue machinery’s tax collection in November stood at Rs346 billion, falling short of the set target of Rs348 billion. However, it recorded more than 3 per cent year-on-year growth from Rs335 billion collected in the same month last year.
Also Read: FBR felicitates historic quarterly tax collection exceeding Rs1tr mark
The tax body collected Rs1.686 trillion during July-November exceeding the projected target of Rs1.669 trillion by Rs17billion.
Income tax collection stood at Rs109bn as against the projected target of Rs130 billion in the month under review. Sales tax collection rose 14pc to Rs173bn in November from Rs152bn in the same month last year.
Also Read: Pakistan’s foreign direct investment up 151% to $317.4m in October
The federal excise duty (FED) collection fell by 18pc to Rs23bn as against Rs27bn projected target. Customs collection increased by 4pc to Rs57 bn as against the set target of Rs49bn.
FBR was able to amass a revenue of Rs1004 billion (Rs1.004 trillion) in the first quarter of the current fiscal year, exceeding the projected target of Rs970 billion.