Karachi: The Federal Board of Revenue (FBR) on Wednesday said it had recorded an increase of 2.47% in tax collection during the first nine months of the current fiscal year (FY2018-19), as compared to the same period of the pervious FY – a news source reported.
According to the federal institution, tax collection amounted to PKR 2.690 trillion during the July-March period of the current financial year. The figures for the same period of the last fiscal year amounted to PKR 2.627 trillion.
For the current FY, FBR has set its annual revenue collection target at PKR 4.398 trillion. It needs to collect taxes worth PKR 1.708 trillion to achieve the said target during the last quarter of FY2018-19. During the last quarter of FY2017-18, the board had collected PKR1.214 trillion.
Further, it recorded a growth pattern of 8.79% during the first quarter of FY2018-19, which fell to 4.32% and 2.47% in the second and third quarters respectively.
The growth in collection, during the first quarter of FY2019, was 8.79 percent. It fell to 4.32 percent during the second quarter, and further declined to 2.47 percent in the third quarter.
