FBR collects Rs320bn in October 2019, says Shabbar Zaidi

ISLAMABAD: The Federal Bureau of Revenue Chairman Shabbar Zaidi has said that FBR collected Rs 320 billion during the month of October 2019.

In a post on Twitter, Shabbar Zaidi  posted, “Alhumdullilah, FBR has collected Rs 320 billion during the month of October 2019 and has maintained overall increase over last year of 16 percent and domestic tax over 25 percent.”

Alhumdullilah, FBR has collected Rs 320 billion during the month October 2019 and has maintained overall increase over last year of 16 percent and domestic tax over 25 percent. This is after taking into account negative aspect of import contraction of around Rs 50 billion.

— Syed Shabbar Zaidi (@ShabarZaidi) October 31, 2019

The FBR Chairman added that this was after taking into account the negative aspect of import contraction of around Rs 50 billion.

Also read: FBR bars tax officials from personal interaction

The FBR is facing a revenue shortfall of Rs163.5billion in the first four months (July-October) period of the current fiscal year as the provisional revenue collection stood at Rs1,283.5 billion against the desired target of Rs1,447 billion.

Also read: FBR sets new tax collection target at Rs1.29 trillion

Earlier in October, FBR set a new tax collection target Rs. 1,295.99 billion. It also collected around Rs. 963 billion interim taxes during the first quarter which is estimated to be more than last year’s financial interim taxes. However, the number is far less than the target Rs. 1.071 billion for the first quarter of the following year.