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revenue collection

Port Qasim makes record revenue collection in six months

KARACHI: Collectorate of Customs Port Qasim has witnessed record revenue collection in six months, ARY News reported on Tuesday. Port Qasim sources said within the last six months 89 billion rupees customs duty has been submitted to the public exchequer, which is more than 25 percent of the revenue earned in 2017. This earning is big chunk of the Federal Board of Revenue's taxation, they added. Port Qasim's sales tax revenue also saw seven percent spike in comparison to the last year's earning. Earlier, Port Qasim…

FBR faces revenue deficit of about Rs184 billion

ISLAMABAD: The Federal Board of Revenue (FBR) is unable to meet the revenue collection revised target of Rs3935 billion for the year 2017-18. An advance amount of about Rs 400 billion is already collected from business related people and also from banks. The recorded temporary net profit assortment is over Rs3751 billion, however, the revised objective was of Rs3935 billion. In the year 2016-17, tax department composed Rs3368 billion, it did not include collections on account of book adjustments for June 2018. The…

FBR Profit Collection scarcity by Rs90 billion for FY2018

ISLAMABAD:  The Federal Board of Revenue (FBR) is facing difficulties to collect revenue as per targeted at Rs3.935 trillion, a scarcity is observed of about Rs90 billion for the period of financial year 2017-2018. The officially agreed profit collection by parliament in the previous year was of Rs4.103 trillion, and later it was modified to Rs3.935 trillion in the past some months. At the end of FY2018, the projected amount for revenue collection is coming around Rs3.844.5 trillion, which also consist of Rs100 billion…

Finance minister directs FBR to achieve revenue collection targets

ISLAMABAD: Finance Minister Dr Shamshad Akhtar on Wednesday directed Chairman Federal Board of Revenue (FBR) Tariq Mehmood Pasha to make all possible effort to achieve the revenue collection targets this year. She said this while chairing a meeting in Islamabad to review the performance of the FBR in the current financial year. The chairman FBR gave a detailed presentation on the measures so far being taken by the FBR to achieve the tax collection targets, the major steps taken by the FBR to facilitate the tax payers…