Islamabad: The Federal Board of Revenue (FBR) on Wednesday announced its revenue collection target for the coming financial year (FY2020-21); stating that it sought to collect PKR 5,100 billion during the period, a news source reported.
FBR Member Inland Revenue (IR) Policy Dr. Hamid Ateeq Sarwar on Wednesday said that the revenue collection target for the current fiscal year 2019-2020 (FY2019-20), which was revised downward, would be achieved following the resumption of economic activities in the country.
Sarwar said that the taxation agency expected to collect PKR 500 billion by the end of April. Until now, FBR has made a revenue collection of PKR 145 billion and the collection will amount to PKR 210 billion during April due to coronavirus spread, he added.
Dr Sarwar said that FBR had abolished two percent duty on edible oil along with flour, wheat, pulses, and sugar items and the prices were expected to go down by 10 percent to 15 percent within the coming weeks.
