FBR achieves 90 percent of revenue target for first two months

Sep 01, 2019: The Federal Board of Revenue (FBR) has achieved 90 percent revenue collection target set for first two months of Fiscal Year 2019-20.

So far, FBR's target for FY2019-20 has been achieved to the extent of 90%-Rs 580 billion against the target of Rs 644 billion, Chairman FBR Syed Shabbar Zaidi said in a tweet on Saturday.

He said FBR collection for the month of July stood at Rs 297.4 billion despite 8-10 non-working days on account of Eid Al Azha.

Meanwhile minister for Economic Affairs Division Hammad Azhar appreciated the positive results saying "excellent results by FBR by achieving 90% of bold revenue target set for them".

He said the break down in taxes show above 30% growth in collection of inland sales and income tax.

Residual 10% shortfall coming due to policy of import compression that is essential to reduce external deficits, he added.

APP