FBR achieves 8-month revenue collection target

Observer Report

Federal Board of Revenue has released the provisional revenue collection figures for the first eight months of current fiscal year.

According to the provisional information, FBR has collected net revenue of Rs.2916 billion during Jul-Feb period, which has exceeded the target of Rs.2898 billion.

This represents a growth of about 6% over the collection of Rs.2750 billion during the same period last year.

The net collection for the month of February was Rs.343 billion against a required target of Rs.325 billion, representing an increase of 8% over last February and 106% of the target.

When finalized after book adjustments, the collection figures are likely to improve further.

On the other hand, the gross collections increased from Rs.2823 billion during this period last year to Rs.3068 billion, showing an increase of nearly 9%.