FBR tax, duty collection increases by 10.4% in April

ISLAMABAD: Federal Board of Revenue has released the information about the taxes and duties collected in the month of April 2020 showing a 10.4 percent growth in collections.

According to official figures, the FBR said it has collected Rs. 256.679 billion taxes and duties in April 2020 as compared to Rs. 296.567 billion in the corresponding month last year.

The refunds issued in April 2020 are Rs 15.119 billion which was Rs 6.661 billion in the corresponding month last year. Moreover, exporters refunds worth Rs 16 billion, and with Rs 33 billion arrear refunds and Rs 15 billion duty drawback have also been issued in April 2020.

FBR has also released the information about taxes and duties collected till April 2020 in the current financial year which is 3408.83 billion showing an increase of 10.4 percent compared with the 3047.951 billion collected last year till April 2019.

The refunds of Rs. 116.961 billion have been issued till April 2020 which was Rs. 6.515 billion in the last year till April 2019.

The FBR has collected the target revenue of 200 billion in April 2020 and collected 256 billion out of revised annual revenue target of 3908 billion for the current financial year.