FBR’s tax collection soars to over Rs 3130 billion this year

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ISLAMABAD, Aug 9 (APP): Federal Board of Revenue (FBR) collected more than Rs 3,130 billion in the financial year 2015-16 as per figures consolidated and reconciled by Accountant General Pakistan Revenues (AGPR), surpassing the revenue collection target of Rs 3,104 billion set for the year.

The FBR made a net collection of more than Rs 3,130 billion for the year ending June 30, 2016 against Rs 2,589 billion collected in the year ending June 30, 2015 thereby registering 21% increase, according to an FBR statement issued here on Tuesday.

The FBR collected Rs 1,220 billion as income tax having a growth of 18.1 percent over the last year.

The collection of sales tax in this period stood at Rs 1,329
billion with a growth of 22.2 per cent. Rs 404 billion was collected under the head of customs duty thereby giving an increase of over 30 per cent. Federal Excise duty was collected to the tune of Rs 177 billion thus reflecting an increase of 9.1 per cent over the collection of last year.