ISLAMABAD – In response to a news items published in some sections of pressabout tax revenue, Federal Board of Revenue (FBR) Wednesday clarified thatit had collected a record Rs2407 billion in first seven months showing anincrease of 17% over last year’s collection of Rs2062 Billion.
This increase has been registered despite a US $5 billion compression inimports, the board said in a statement issued here.
Last year, FBR collected income tax, sales tax and customs duty at importstage amounting to Rs.1005 billion which had only grown by 6% to Rs1066billion consequent to the tremendous negative impact on customs duty andincome tax collected at import stage.
On the other hand domestic collection has increased from Rs1066 billionlast years’ to Rs1341 billion this year, showing unprecedented increase of27%.
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“It is evident that the aforementioned tremendous growth has been madepossible by untiring efforts of FBR despite economic slowdown and withoutadopting any coercive measure,” the statement added.
The board expressed the hope that with upcoming economic turnover coupledwith efforts of FBR, it would reach very close to its assigned targets.
