Revenue collection increases by 17% till January 2020- FBR

So far FBR has collected Rs 2407.7 billion against the target of Rs 2509 billion, which shows increased by 16.7%.

revenue

The Federal Board of Revenue (FBR) revealed on Sunday that revenue collection grew by 17% in January 2020, with additional revenues of PKR 345 billion as compared to the same period last year.

INCOME TAX COLLECTION AGAINST TARGET Rs 920 billion

Collection from July to January, 2020Rs 897.5 billion
Collection from July to January, 2019Rs 759.1 billion

 

SALES TAX COLLECTION AGAINST TARGET Rs 1,039 billion

Collection from July to January, 2020Rs 996.6 billion showing growth by 24.7%
Collection from July to January, 2019Rs 799.1 billion

 

FEDERAL EXCISE DUTY AGAINST TARGET Rs 151 billion

Collection from July to January, 2020Rs 145.1 billion showing growth by 23.6%

 

CUSTOM DUTY COLLECTION AGAINST TARGET Rs 399 billion

Collection from July to January, 2020Rs 373.8 billion
Collection from July to January, 2019Rs 390.6 billion

 

TOTAL DOMESTIC REVENUES

Collection from July to January, 2020Rs 1339.91 billion
Collection from July to January, 2019Rs 1057.60 billion

 

ADDITIONAL FUNDS RELEASED

Funds released from July to January, 2020Rs 1339.91 billion
Funds released from July to January, 2019Rs 1057.60 billion

 

The FBR has also issued the refunds detail distributed through the FASTER system. The total quantity of refunds claims cases, where Annex-H submitted, was 6,081 with an amount of PKR 37,614 million.

FASTER SYSTEM STATISTICS

Total number of cases processed4,606 cases
Claimed amountRs. 33,364 million
Percentage of total cases89.99%
After processing, the total number of refunds issuedRs. 29,303 million
Percentage of processed cases87.47%

 

Up until the 29th of February 2020, total returns for Tax Year 2019 were 2,483,866; however, 373,877 new taxpayers paid taxes in Tax Year 2019.

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