ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs960 billion in the first quarter of current fiscal year 2019/2020, which is about 90 percent of the target for the quarter, Syed Shabbar Zaidi, Chairman, FBR said on Monday.
In a message on social media, he said that tax collection up to 90 percent of highly aggressive target for quarter ended September 30, 2019 has been achieved.
“Collection is Rs 960 billion. Some more positive adjustment is expected. Furthermore this amount excludes refunds of past years of Rs15 billion,” the chairman said.
The chairman said that collection from domestic sources had been increased by 25 percent. He said that the imports had been contracted by $3 billion during the period.
He said that the contraction of import had impacted the revenue by Rs125 billion. The chairman said that if this amount added the revenue collection then the target would have been met.