Abb Takk News

FBR collects Rs.549 during first quarter of current fiscal year

ISLAMABAD: The Federal Board of Revenue (FBR) has reflected an increase of 14 per cent in tax collection during the first quarter (July-September) of Fiscal Year 2014-15 as compare to same period of previous fiscal year.

According to FBR sources, Rs 549 billion was collected during the first quarter (Q1) of current fiscal year against Rs 481 billion in the corresponding period of 2013-14.

However FBR missed the quarterly target of Rs. 569 billion assign for Q1 of FY 2014-15.

The provisional figures compiled by the board stated that Rs 230 billion was collected in September 2014 against Rs 202 billion in September 2013, showing an increase of 14 percent.

In order to achieve the tax collection target of Rs. 2810 billion, the government requires a growth of at least 24 per cent.