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FBR tax, duty collection increases by 10.4%

SAMAA | - Posted: May 1, 2020 | Last Updated: 2 months ago
SAMAA |
Posted: May 1, 2020 | Last Updated: 2 months ago
FBR tax, duty collection increases by 10.4%

The Federal Board of Revenue has collected 10.4% more taxes and duties till April 2020 than compared to last year, it said in a statement on Friday.

The FBR said that it has collected Rs3408.8 billion till April 2020 this financial year. The same amount was Rs3047.9 billion in April 2019.

According to official figures, the board collected Rs256.6 billion in taxes and duties in April 2020. It collected Rs296.567 billion in the corresponding month last year.

Likewise, the refunds issued in April 2020 are Rs15.1 billion, which was Rs6.6 billion in the corresponding month last year.

Moreover, Rs16 billion exporters refunds, Rs33 billion arrear refunds and Rs15 billion duty drawback have also been issued in April 2020. The refunds of Rs116.9 billion have been issued till April 2020, which was Rs6.5 billion till April 2019.

The FBR has collected the target revenue of Rs200 billion for April 2020 and collected Rs256 billion out of the revised annual revenue target of Rs3,908 billion for the current financial year.

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