FBR Achieves 94% Of Revenue Collection Targets, Realizes Rs2,083 Bln In First Half
Sumaira FH Published January 01, 2020 | 08:08 PM
Federal Board of Revenue (FBR) has collected Rs 2,083 billion revenues during the first half of current financial year, which recorded an increase of 16.6% as compared the corresponding period of last year
This was stated by Spokesman FBR's Hamid Atique Sarwar while briefing the media persons here on Wednesday.
He said that in last six months about 94% set revenue targets were achieved as 2,150,000 taxpayers had submitted their income tax returns.
Highlighting the revenue growth in the country, he said that income tax collection had witnessed about 21% increase during the period under review, where as collection on imported items reduced by 4.4%.
The direct tax collection witnessed 16.6 percent growth, he said adding that sales tax grew by 25%, where as sales tax in side the country registered about 34% increase during the period under review.
He further said that domestic tax collection grew by 21%, where as tax on imported good reduced by 4%, adding that federal excise duty domestic increased by 25.6%.
Hamid Atique said that International Monetary Fund had downward revised the revenue collection targets to Rs 5,236 billion , adding that revenue collection was recorded at Rs 2,083 billion as against the set target of Rs2,198 billion during first half of current financial year.
He said that total tax returns till last night were recorded at 2,150,000 as against the last year's 1,562,000 returns filed during the same period of last year, adding that it had recorded about 32%increse.
He informed that 2,750,000 peoples were on the active tax payers list, adding that 600,000 people had not sofar filed their tax returns.
Spokesman said that new malls were included in point of sale from December 1, 2019 and and system was introduced to provide full information to taxpayers, adding that 186 retail sellers were registered in point of sales.
He said that FBR had registered over 4,750 top retailers out of 20,000 and it took over 6 months time, adding that FBR was focusing on large scale brand as the point of sale system was working across the world and contributing in revenue collection.
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