*ISLAMABAD: Pakistan’s tax authorities in first seven months of the currentfiscal year collected Rs2.07 trillion in taxes with 3.5% net increasecompare to the previous year.*
According to the Federal Board of Revenue (FBR) sources, the FBR hascollected Rs2.07 trillion in taxes from July to January.
The net increase compared to the fiscal year 2017-18 was Rs69 billion or3.5%.
The FBR’s provisional collection in January alone stood at Rs270 billion,according to the FBR’s sources.
The FBR officials expect addition of a few more billions to January’scollection after taking into account book adjustments and hope to level thelast January’s collection after book adjustments are completed.
The FBR sources also indicate improvement in the sales tax receipts in theongoing year.
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The government has fixed Rs. 4.40 trillion tax collection target for thisyear.
The government has decided to clear Rs 120 billion worth of sales taxrefunds including Rs 80 billion through promissory notes of three years.
The government also considering reforms in the tax collection mechanism toimprove it and ensure achieving the revenue target.
