FBR collects tax of Rs.142bn till August 26

The Federal Board of Revenue (FBR) has collected Rs. 142 billion during August 2014 as compared to Rs 117 billion in the same period of last fiscal year, witnessing the increase of 21 per cent, said sources.

FBR has set the revenue collection target of Rs. 165 billion for the month of August. On average the FBR is collecting Rs 6-7 billion per day in August 2014. If the current positive trend of revenue collection continues in the last three working days of August 2014, the FBR may be able to generate around Rs 21 billion in the last three days of current month. This would take the total revenue collection close to the assigned target for the current month.

The on-going sit-ins on the Constitution Avenue following Azadi and Inqilab marches of Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) and the civil disobedience campaign by the PTI did not have any negative impact on the revenue collection. However, sources admitted that the overall position of the economy is not very positive.