FBR collects Rs1588b in first two months of financial year

The Federal Board of Revenue (FBR) has collected a total of Rs 1,588 billion in taxes during the first two months of the current financial year, reported 24NewsHD TV channel Sunday.

This includes Rs 1,456 billion collected in July and August, along with Rs 132 billion released in tax refunds.

Breaking down the collections, the FBR gathered Rs 616 billion in income tax, Rs 572 billion in sales tax, Rs 96 billion in excise duty, and Rs 172 billion in customs duty.

FBR officials are confident of achieving the tax target for the first quarter of the ongoing financial year.