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FBR collects Rs 320 bn tax during Jan 2020  

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Web Desk
Web Desk
News Stories Posted by ARY News Digital Team

KARACHI: Federal Board of Revenue (FBR) on Saturday announced that it generated Rs 320 billion in terms of tax revenue during January 2020, an amount 17 percent more from the same month of the previous year, ARY NEWS reported.

The FBR spokesman further announced a 30 percent increase in internal tax collection. “This collection is unprecedented in FBR history,” he said adding that a 40 percent increase was also witnessed in the number of tax filers this year.

He said that the increase depicts increasing confidence of the masses on the tax collection body. “The tax filers during the year 2019 were 1,645,828 and witnessed a sharp increase of upto 2,342,682 till 31 January 2020,” he said.

He further said that the refunds also increased from Rs 65 billion in the previous year to Rs 120 billion in the incumbent year.

The Federal Board of Revenue (FBR) on Friday extended the deadline for filing of income tax returns up to February 28, 2020, to facilitate taxpayers.

Read More: FBR taxpayer unit records 15 pc growth in revenue collection 

“In exercise of the powers conferred under Section 214A of the Income Tax Ordinance, 2001, the Federal Board of Revenue is pleased to extend the date of filing of Income Tax Returns/Statements for the Tax Year 2019,” read official notification.

The FBR said individuals and “associations of persons” who were required to file their income tax returns for the tax year 2019 first by Sept 30 and then by an extended deadline of January 31, 2020, but failed to do so will now be able to file their income tax returns by February 28, 2020.

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