Record increase of 14pc revenue collection during first six months of CFY: FBR

[farhan_9909]

ISLAMABAD: The Federal Board of Revenue (FBR) has realized a gross collection of Rs. 1,230,376 million and issued refunds of Rs. 58,508 million during the first six months of current financial year 2014-15, resulting in net collection of Rs. 1,171,868 million,showing an increase of 14 percent

"Whereas last year during first six months, FBR had made a gross collection of Rs. 1,081,937 and after issuing of refunds of Rs. 56,522 made a net collection of Rs. 1,031,415 million, indicating a record increase of Rs. 140,453 million which in percentage terms comes to around 14pc", Spokesman FBR Shahid Hussain Asad said in a statement issued here on Thursday.

He said that i the month of December, 2014, FBR has made a net collection of Rs. 270,216 million as against net collection of Rs. 231,539 million during December, 2013 showing an increase of 17pc.

From July, 2014 to December, 2014, FBR made a gross collection of Rs. 1,230,376 million and issued refunds of Rs. 58,508 million, resulting in net collection of Rs 1,171,868 million, whereas last year during first six months, FBR had made a gross collection of Rs 1,081,937 and after issuing of refunds of Rs. 56,522 made a net collection of Rs. 1,031,415 million, indicating a record increase of Rs. 140,453 million which in percentage terms comes to around 14pc.

Record increase of 14pc revenue collection during first six months of CFY: FBR

 

[Bilal.]

Seems like we will have a short fall of around 300 billion against the target by the end of FY.

 

[BetterPakistan]

I read somewhere that the revenue collection target given to FBR for fiscal year 2014-15 is 2.81 Trillion and it didn't look that FBR will fulfill it by working in this way.

 

[farhan_9909]

Seems like we will have a short fall of around 300 billion against the target by the end of FY.

I think we will end up having 18% growth in revenue.

in the first six months,we are short 90Billion against the t arget

 

[mourning sage]

Do the figures take into account inflation? these figures would have their values depreciated if measured in real terms. The FBR didnt increase its tax base. Less than 1% of Pakistanis pay their taxes, of those who do pay taxes, almost all pay less than what they should be paying. FBR like all other civilian institutions is weak and corrupt without a progressive leadership and ideology.