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Tax collection has increased pleasantly, FBR released details of revenue collected in the first eight months of the financial year

ISLAMABAD (REPORTBEAT) : The Federal Board of Revenue has exceeded its target for the first eight months of the current fiscal year (July-February) by fetching Rs2,916 billion against its desired target of Rs2,898 billion, seeing an increase of Rs18 billion.

As per the provisional collection figures, the FBR collected net revenue of Rs2,916 billion during the Jul-Feb period, which has exceeded the target of Rs2,898 billion. This represents a growth of close 6% compared to the Rs2,750 billion collected during the same period last year.

The monthly net collection for February was Rs343 billion against the required target of Rs325 billion, representing an increase of 8% over February 2019 and 106% of the target. The collection figures are likely to improve further when book adjustments are finalized.

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