Imarat

FBR reports overall increase of 16% in tax collection

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi has revealed that tax collection for the month of October amounted to Rs 320 billion – an overall 16% increase from the same time period last year.

The official took to micro-blogging website Twitter to share the news with his followers, adding that the figures were achieved after taking into account the negative aspect of import contraction of around Rs 50 billion.

“Alhumdullilah, FBR has collected Rs320 billion during the month October 2019 and has maintained overall increase over last year of 16 percent and domestic tax over 25 percent,” read the tweet.

Earlier, according to an income tax circular number 15 of 2019 issued by the FBR, in exercise of the powers conferred under Section 214A of the Income Tax Ordinance, 2001, the FBR extended the date of filing of Income Tax Returns/Statements for the Tax Year 2019.

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