FBR rakes in Rs3.967 trillion in outgoing financial year

ISLAMABAD: The Federal Board of Revenue’s (FBR) collection stood at Rs3.967 trillion within the financial year 2019-20 as against Rs3.907 trillion received within the fiscal year 2019, showing a rise of Rs60 billion or 3.9 per cent.

Sources conversant in the tax body’s revenue collection data told ARY News that the FBR revenue saw this increase despite the adverse impact of the continued coronavirus pandemic on the country’s economy.

The FBR collected Rs60 billion quite the revised annual collection target of Rs3.907 trillion.

According to tax-wise breakdown for FY20, overall revenue collection in last month (June 2020) clocked in at Rs415 billion as compared to Rs472 billion collected in last year’s same period.

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The FBR received a complete of Rs1.484 trillion tax in 2019-20, Rs1.597 trillion nuisance tax , and Rs255 billion federal excise duty. Customs collection clocked in at Rs618 billion and payment of refunds stood at Rs127 billion.

Earlier, June 29, the National Assembly had passed the Finance Bill 2020-21, giving the go-ahead to the budgetary proposals for the upcoming fiscal year . The bill was moved by Minister for Industries and Production Hammad Azhar.

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