FBR registers 17.65% revenue growth in first 8 months
Federal Board of Revenue (FBR) during first eight months of the current financial year has recorded a provisional net revenue collection of over Rs. 2259 billion as against Rs. 1920 billion collected during the same period of the previous fiscal year, excluding collection on account of book adjustments. FBR has recorded an increase of around 17.65% over the revenue collected during the corresponding period of last fiscal year.
The provisional collection for the month of February 2018 was Rs 263 billion excluding collection on account of book adjustments as against Rs 227.5 billion collected during February, 2017. The figure of monthly collection is encouraging and shows an increase of around 16%. The figures of collection received in the treasuries of the remote areas may further swell the revenue figures. The target for the year has been fixed with an annual increase of around 19% over the previous year.
The revenue collection trend during the first eight months of the financial year augurs well for the efforts of FBR towards achievement of the assigned annual revenue targets.