The Federal Board of Revenue (FBR) has realised Rs 1,400 billion revenue up to January 5 of current fiscal year against the collections of Rs 1,115 billion taxes as compared to same period of last fiscal, showing a growth of 19 per cent, a senior official of the board said.
Member Strategic Planning Reforms and Statistics (SPR&S) and Spokesman of the FBR Dr Muhammad Iqbal told APP that the FBR had performed well in tax collection with over 19 per cent increase in taxes so far as compared to same period of last fiscal. The FBR spokesman said: “We have made a net collection of around Rs 785 billion against the target of Rs 750 billion fixed for the second quarter October to December 2015. He said the net collection for the first six months of current fiscal year stood at Rs 1,385 billion showing an increase of 19 per cent from the corresponding period of the previous year. He said the FBR was determined to issue notices to those non-compliant persons, who had not filed their tax returns. During the second quarter, not only the assigned target of Rs 750 billion was achieved but Rs 35 billion was also recouped in respect of the shortfall of the previous quarter, he added. The FBR spokesman said that the FBR’s administrative reforms were gradually leading to improvement in tax structure and revenue collection.
