Tax collection in July, August 13% greater than last fiscal year : FBR

BUSINESS

ISLAMABAD: With the onset of new fiscal year, the tax collection in first two months has reached up to 510 billion rupees.

The tax collection in July and August was increased by 61 billion rupees, with 255 billion rupees in the months of July and August each, according to FBR.

As per the FBR, these numbers are likely to grow more.

It seems promising according to the Federal Board of Revenue’s (FBR) sources that the total tax collection from merely the months of July and August is 13 percent higher than the last fiscal year 2017-2018.

Prime Minister Imran Khan has rolled up his sleeves to effectively handle all challenges faced by the country. But, he has been especially putting significant efforts to cope with looming economic crisis of Pakistan.

For the current fiscal year 2018-2019, the PTI- led government of Pakistan has set up the annual target of collecting Rs4.435 trillion tax.

On Saturday, he constituted an 18-member Economic Advisory Council to ensure the availability of best possible professional advice to the government.

The council would help to optimise and synergise the formulation and implementation of economic and financial policies of the government.

It comprises some of the most learned and well-respected experts, academics and practitioners of the field who are currently serving in, or have rich experience with, amongst the most advanced academic institutions and other specialised organisations in Pakistan and abroad.a