The Federal Board of Revenue (FBR) has achieved 90 per cent revenue collection target set for the first two months of the Fiscal Year 2019-20. FBR Chairman Shabbar Zaidi in a post on Twitter said, FBR collection in this month is 297.4B despite 8-10 non-working days. So far, FBR’s target for FY2019-20 has been achieved to the extent of 90 per cent 580 billion against the target of 644 billion.
“The positive aspects for the two months of FY2019-20 are that imports during the two months decreased by $1 billion,” he said, adding, the positive effect is taken into account, collection during the past two months is in line with the target.
Minister for Economic Affairs Division Hammad Azhar appreciated the positive result and said, excellent results by FBR by achieving 90 per cent of bold revenue target set for them. He added, The break down in taxes show above 30 per cent growth in collection of inland sales and income tax. Residual 10 per cent shortfall is coming due to the policy of import compression that is essential to reduce external deficits.