In a positive economic development, significant increase in tax collection under PTI government
KARACHI: In a positive economic development, significant increase in tax collection under PTI government.
Chairman Federal Board of Revenue (FBR) Shabbar Zaidi on Saturday said that they have collected 17 percent more taxes during the five months of the ongoing fiscal year till November 2019 as compared to same period during the previous year.
In a post shared on micro-blogging site Twitter, detailing the amount of revenue collected in month of November 2019, the FBR chief said that Rs 334 billion was collected from the tax authorities in November.
“The overall revenue collection this fiscal year witnessed an increase of 17 percent from the previous year,” he said adding that upto previous month, the increase was 16 percent from the previous year.
The amount collected in November 2019 was also more than the revenue collection in the previous month of this year.
Taking to the micro-blogging site Twitter on 31 October, he said: “Alhumdullilah, FBR has collected Rs 320 billion during the month October 2019 and has maintained overall increase over last year of 16 percent and domestic tax over 25 percent.”
“This is after taking into account negative aspect of import contraction of around Rs 50 billion,” he added.
On Friday, the FBR extended the deadline for filing of income tax returns for the tax year 2019 to Dec 16.
“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.