FBR misses revenue target by big margin


ISLAMABAD: The Federal Board of Revenue (FBR) has failed to achieve the downward revised target of Rs3,935 billion by a big margin and collected Rs3,751 billion.
The FBR fell short of Rs184 billion collection to achieve the target. The collection during 2017-2018 has recorded a provisional net revenue collection of over Rs3751 billion as against Rs3368 billion collected during previous fiscal year, excluding collection on account of book adjustments for June, 2018.
FBR has also recorded an increase of around 11.37 percent over the revenue collected during last fiscal year. The revenue body has also issued Rs45 billion more refunds than the previous year.
Annual assigned revenue targets for Inland Revenue Service and Customs were Rs3335 billion and Rs600 billion, respectively. Whereas, Customs has surpassed its target by Rs6 billion, Inland Revenue fell short by Rs 190 billion.
The collection of Rs 3751 billion does not include Rs90 billion received on account of foreign and domestic amnesty schemes.