FBR registers 17.65pc revenue growth in 8 months

ISLAMABAD: Federal Board of Revenue (FBR) has recorded a provisional net revenue collection of over Rs. 2259 billion during first eight months of the current financial year compared to collection of Rs. 1920 billion during same period of the previous fiscal year.

According to a statement issued by FBR, the Board has recorded an increase of around 17.65 per cent over the revenue collected during the corresponding period of last fiscal year.

The provisional collection for the month of February 2018 was Rs 263 billion excluding collection on account of book adjustments as against Rs 227.5 billion collected during February, 2017 showing an increase of around 16 per cent.

The figures of collection received in the treasuries of the remote areas may further swell the revenue figures. The target for the year has been fixed with an annual increase of around 19% over the previous year.

The revenue collection trend during the first eight months of the financial year augurs well for the efforts of FBR towards achievement of the assigned annual revenue targets.