Over 21 percent growth in net tax collection in two months

The net tax collection by Federal Board of Revenue (FBR) during the first two months of the current fiscal year increased by 21.02 percent as against the same period of last year.

The gross revenue collection during July-August (2017-18) witnessed growth of 24 per cent as compared to the corresponding period of last year, however after paying the refunds the net collection remained 21.02 percent.

The FBR paid refunds Rs36 billion in July-August (2017-18) compared to the refunds of Rs17 billion in July-August (2016-17), according to official sources.

The FBR has also launched a robust awareness campaign utilizing electronic as well as social media for sensitizing existing as well as potential taxpayers to file their returns by the due date which is September 30, 2017.

An active liaison was being maintained with corporate employers to ensure maximum filing of income tax returns, they added.

In the next phase trade bodies, tax bars and Chambers of Commerce and Trade would be engaged to facilitate and ensure filing of maximum number of returns.