FBR Collects Record Revenue of Rs872b in January

Islamabad: The Federal Board of Revenue has collected record tax revenue in last month.

According to Radio Pakistan, record revenue of 872 billion rupees was collected in January which is 29 percent more in the same month during the last year.

The volume of revenue collected in January last year was 677 billion rupees. This revenue collection has been registered despite a 10 percent reduction in interest rates and a 22 percent decline in inflation as compared to the previous year.

The FBR said income tax revenue has also witnessed an increase of 28 percent while sales tax revenue by 29 percent in the last month. Moreover, the Federal Excise Duty collection witnessed an increase of 34 percent and Customs Duties by 30 percent in January.

The significant increase in Customs Duties collection for the first time this year reflects the revival of economic activities and growth in the country.