FBR registers 11.4% growth during 2017-18

MG News | July 09, 2018 at 10:20 PM GMT+05:00

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Federal Board of Revenue during 2017-18 has recorded a provisional net revenue collection of over Rs. 3751 billion as against Rs. 3368 billion collected during previous fiscal year, excluding collection on account of book adjustments for June, 2018.

FBR has also recorded an increase of around 11.37% over the revenue collected during last fiscal year. Federal Board of Revenue has also issued Rs 45 billion more refunds than the previous year.

Annual assigned revenue targets for Inland Revenue Service and Customs were Rs 3335 billion and Rs 600 billion, respectively. Whereas, Customs has surpassed its target by Rs 6 billion, Inland Revenue fell short by Rs 190 billion. Tax-wise break-up of revenue collected is as under:

**Collection Summary**
	Assigned Target	Collection	Excess/(Shortfall)
Income Tax	1,562	1,441	121
Sales Tax	1,541	1,488	53
Federal Excise	232	216	16
Inland Revenue	3,335	3,145	-190
Customs duty	600	606	6
FBR Target	3,935	3,751	-184

(Rs in billions)

The collection of Rs 3751 billion does not include Rs 90 billion received on account of foreign and domestic amnesty schemes.

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