FBR Collects Approximately 1 Trillion Revenue in the First Quarter

In the 1^st quarter of the current fiscal year, FBR managed to collect net revenue of 1,004 billion exceeding the given target of Rs. 970 billion by a margin of 34 billion. Income Tax collection for the quarter stood at Rs. 358 billion. Similarly, collection of Sales Tax, Federal Excise Duty and Customs Duty remained at Rs. 426 billion, Rs. 56 billion and Rs. 164 billion respectively. This is the first time FBR has managed to cross the figure of 1 trillion in gross as well as net collection in first quarter of a fiscal year. The gross revenue stood at Rs.1052 billion.