ISLAMABAD: Federal Board of Revenue recorded revenues at Rs2,621 billion in the first nine months of 2017-18, up 16 per cent year-on-year from Rs2,260bn in the same period last year.
The revenue collection in March stood at Rs361bn on account of book adjustments. A senior tax official said the monthly collection looks encouraging and the receipts received in treasuries of remote areas may further swell the revenue figures.
The target for the year has been fixed with an annual increase of around 19pc over the previous year. FBR has projected an annual revenue collection target of Rs4 trillion for 2017-18.
The tax machinery will have to collect approximately Rs1,361bn in the last quarter — April-June in order to reach the original target.
But tax experts believe that revenue collection may reach around Rs3,892bn by end June 2018, which would be almost twice the revenue when PML-N took over the government in 2013.
Published in Dawn, April 1st, 2018