Revenue collection increased to 16% during 10 months: FBR
Shares
ISLAMABAD:The revenue collection during the first ten months of the current fiscal year (July-April, 2017-18) witnessed an increase of 16 percent compared to the same period of the last year.
According to data released by FBR, the Federal Board of Revenue recorded a provisional net revenue collection of over 2922 billion rupees during July-April (2017-18), excluding collection on account of book adjustments, as against 2513 billion rupees collected during July-April (2016-17).
The increase in collection has been witnessed despite sixty eight billion rupees tax refunds issued during 2018 as compared to fifty three billion rupees refunds issued of the corresponding period of previous fiscal year, showing an increase of 28 percent in tax refunds.
Meanwhile, during the month of April, the board collected 295 billion rupees taxes, excluding collection on account of book adjustments, as against 252 billion rupees collected during the corresponding month of the previous fiscal year.
The collection witnessed 17 percent increase over the revenue collected during April, 2017. APP/AFP
