{"id":54455,"date":"2019-08-19T15:38:00","date_gmt":"2019-08-19T10:38:00","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=54455"},"modified":"2019-08-19T17:26:08","modified_gmt":"2019-08-19T12:26:08","slug":"fbr-reports-60-increase-domestic-tax-revenue-collection","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-reports-60-increase-domestic-tax-revenue-collection.html","title":{"rendered":"FBR reports 60% increase in domestic tax revenue collection"},"content":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has notified of an increase in its Inland Revenue domestic tax collection efforts by 60% (as compared to figures recorded during FY2017-18), accrued during the first completed year of the current government&#8217;s tenure in office \u2013 a news source reported.<\/p>\n<p>Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan disclosed this information while sharing the federal government\u2019s one-year performance report with the media on Sunday.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-plans-to-raise-number-of-taxpayers-to-3-5-mn-in-5-years.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR plans to raise number of taxpayers to 3.5 mn in 5 years<\/a><\/p>\n<p>Besides introducing measures aimed at broadening the tax base, the FBR achieved 99.2% of its target of tax collection target during July 2019. The revenue was PKR 234 billion against the target of PKR 236 billion. The board also reported a 62% increase in the number of tax filers for FY2018-19; with the figure exceeding the 2.4 million mark as compared to the previous 1.5 million (citizens who had filed their returns in FY2017-18).<\/p>\n<p>The number of new tax payers who filed income tax returns during the fiscal year (FY) 2018-2019 was 348,140 as compared to the 146,096 filed during FY 2017-2018 \u2013 indicating an increase of 137%.<\/p>\n<p>During July 2019, the sales tax collection was 26.4% higher and Federal Excise Duty (FED) was 20% higher than the numbers from July 2018. Similarly, income tax collected during July 2019 was 42% higher than the same month in 2018.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-proposes-schemes-bring-retailers-into-tax-net.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR proposes schemes to bring retailers into tax net<\/a><\/p>\n<p>Similarly, the authorities concerned managed to collect PKR 189 million from individuals who had availed the <a href=\"https:\/\/www.zameen.com\/news\/fbr-seeks-report-amnesty-scheme-beneficiaries.html\" target=\"_blank\" rel=\"noopener noreferrer\">amnesty scheme<\/a> introduced by the executive.<\/p>\n<p>The report stated that the government during its first year introduced several initiatives; including a Devices Identification setup, a Registration and Blocking System (DIRBS), an Authorised Economic Operator Programme, and a Directorate of Cross Border Currency Movement (CBCM).<\/p>\n<p>Moreover, it detailed several new initiatives introduced by the FBR during the said year with an aim to improve its performance, facilitate the taxpayers, and to increase the total tax revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has notified of an increase in its Inland Revenue domestic tax collection efforts by 60% (as compared to figures recorded during FY2017-18), accrued during the first completed year of the current government&#8217;s tenure in office \u2013 a news source reported. Special Assistant to the Prime Minister on Information and Broadcasting Firdous Ashiq Awan disclosed this information while sharing the federal government\u2019s one-year performance report with the media on Sunday. Read:\u00a0FBR plans to raise number of taxpayers to 3.5 mn in 5 years Besides introducing measures aimed at broadening the tax base, the FBR achieved 99.2% of its target of tax collection target during July 2019. The revenue was PKR 234 billion against the target of PKR 236 billion. The board also reported a 62% increase in the number of tax filers for FY2018-19; with the figure exceeding the 2.4 million mark as compared to the previous 1.5 million (citizens who had filed their returns in FY2017-18). The number of new tax payers who filed income tax returns during the fiscal year (FY) 2018-2019 was 348,140 as compared to the 146,096 filed during FY 2017-2018 \u2013 indicating an increase of 137%. During July 2019,&hellip;<\/p>\n","protected":false},"author":74,"featured_media":26795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[12614],"persona":[],"class_list":{"0":"post-54455","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-fbr-reports-60-increase-in-domestic-tax-revenue-collection"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR reports 60% increase in domestic tax revenue collection - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has notified of an increase in its Inland Revenue domestic tax collection efforts by 60% (as compared to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-reports-60-increase-domestic-tax-revenue-collection.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR reports 60% increase in domestic tax revenue collection - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has notified of an increase in its Inland Revenue domestic tax collection efforts by 60% (as compared to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-reports-60-increase-domestic-tax-revenue-collection.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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