Revenue collection grows 7.7% in 11 months

May 31, 2020: The revenue collection by Federal Board of Revenue increased by 7.7 percent during the first eleven months of the current fiscal year as compared to the corresponding period of last year.

The board collected revenues of Rs3,518 billion during July-May (2019-20) as compared to the collection of Rs3,266 billion during July-May (2018-19), according to the lasts figures released by the FBR.

According to the statement, the board had managed to collect 90 percent of its total revenue target of 3,908 billion for the current financial year despite coronavirus outbreak, slowdown in economy and impact of lockdown on businesses.

Meanwhile, during the month of May 2020, the board collected taxes and duties of Rs227 billion in May, 2020, the statement added.

APP