The Federal Board of Revenue (FBR) collected more than Rs 3.130 trillion in the tax year 2015-16 as per figures consolidated and reconciled by the AGPR, surpassing the revenue collection target of Rs 3.104 trillion set for the year, which is unprecedented.
An FBR spokesman said that the FBR has made a net collection of more than Rs 3.130 trillion for the year ending June 30, 2016 against Rs 2.589 trillion collected in the year ending June 30, 2015, thereby registering a 21% increase over the last year. He said that the originally assigned targets have been achieved without any downward revision which is an unprecedented accomplishment and speaks of the success of the economic policies being followed by the current government.
The FBR has collected Rs 1.220 trillion as income tax with a growth of 18.1 per cent over the last year. The collection of sales tax in this period stood at Rs 1.329 trillion with a growth of 22.2 per cent. As much as Rs 404 billion was collected under the head of customs duty, an increase of over 30 per cent. The Federal Excise Duty was collected to the tune of Rs 177 billion, reflecting an increase of 9.1 per cent over the collection of the last year.
