Number of tax return filers increase 26 pc in FY18

ISLAMABAD: The number of tax return filers has increased by 21.5 percent during the current fiscal year (2017-18) as against the filers of the last year, according to latest data.

Upto December 31, 2017, as many as 1,158, 380 taxpayers filed their returns till December 31, 2017 compared to the filers of around 914,000 taxpayers during the same period of last year.

The refunds also witnessed increase 28% during the current year over the corresponding period of previous fiscal year. The government has issued returns to the tune of Rs58 billion during the current fiscal year as against Rs45 billion issued during last year, the data revealed.

It is pertinent to mention here that the revenue collection during the first half of the current fiscal year (2017-18) witnessed an increase of 17.5 percent as compared to the corresponding period of last year.

The revenue collection by FBR during July-December (2017-18) was recorded at over Rs1722 billion as against Rs1466 billion collected during the same period of the previous fiscal year, showing an increase of 17.5 percent.

“The Federal Board of Revenue (FBR) remained on track to achieve annual collection target of Rs4013 billion, as it had collected Rs1722 billion so far,” said FBR statement issued here.

These figures have been arrived at by taking reconciled figures of net revenue collected up to November, 2017 at Rs1305 and provisional figures of Rs 417 billion for December, 2017.