Home »Taxation » Pakistan » July-November: 20 percent growth in revenue collection

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  • Dec 4th, 2017
  • Comments Off on July-November: 20 percent growth in revenue collection
The revenue collection of the Federal Board of Revenue (FBR) has witnessed a handsome growth of 20 percent during July-November (2017-18) when compared with same period of the last fiscal year, whereas total refunds of Rs 56 billion have been paid during this period of 2017-18.

According to sources, the collection during first five months of 2017-18 has shown growth of 20 percent as against growth of less than 8% in the previous year. All taxes and duties have shown a healthy growth during this period. The FBR has paid refunds of Rs 56 billion during July-November (2017-18) as compared to Rs 44 billion in the same period of 2016-17, reflecting an increase of Rs 12 billion.

The growth of 20 percent in revenue collection is more than the required growth of 19.2% per month. The comparative performance of FBR for the month of November 2017 with November 2016 revealed that the FBR has witnessed net growth of 25 percent. Breakup of collection revealed that the FBR has collected Rs 100,016 million income tax during November 2017 as compared to Rs 84,444 million in November 2016; Rs 118,792 million sales tax against Rs 102,754 million; Rs 16,387 million Federal Excise Duty against Rs 16,693 and collection of customs duty was Rs 48,759 million against Rs 37,085 million collected in November 2016.

The comparative performance of FBR for July-November (2017-18) with July-November 2016-17 revealed that the FBR has witnessed net growth of 20 percent. Breakup of collection revealed that the FBR has collected Rs 479 billion income tax (gross) during July-Nov 2017-18 as compared to Rs 418 billion in July-Nov 2016-17; Rs 580 billion sales tax (gross) against Rs 475 billion; Rs 70 billion Federal Excise Duty (gross) against Rs 63 billion and collection of customs duty was Rs 230 billion (gross) against Rs 178 billion.

Federal Board of Revenue (FBR) has provisionally collected Rs 1,303 billion during the first five months (July-November 2017-18) as compared to Rs 1,089 billion collected during the same period of 2016-17, reflecting an increase of 20 percent. The FBR is confident that the overall collection for first five months (July-Nov) period will cross over 20 percent growth compared to the same period of the last financial year.



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