Alhamdulillah FBR collection in this month is 297.4B - Shabbar Zaidi first tweet on twitter

[Code_Geass]

This year returns will start from tomorrow

Isn't it because people file returns in July and August?

 

[Village life]

ISLAMABAD: The Federal Board of Revenue (FBR) has missed revenue collection target by a whopping margin of Rs50 billion for August, second month of the new fiscal year, despite introducing several revenue and administrative measures in the last budget.

This shortfall is in addition to the one recorded in the first month (Rs14bn in July) of the current fiscal year, taking the total shortfall in revenue collection to Rs64bn in just two months of the current fiscal year.

As against the target of Rs352bn projected for the month of August 2019, the FBR has managed to collect provisionally Rs302bn, which is much below the government expectation in view of their claim to make record collection.

Prime Minister Imran Khan removed the then FBR chairman in May as it became clear to him that the revenue collection was heading towards a record shortfall. To achieve the ambitious revenue target of Rs5.55 trillion, Mr Khan on May 10 appointed Shabbar Zaidi from the private sector as FBR chairman to reverse the downward trends in revenue collection.

Total shortfall reaches Rs64bn in two months of current financial year

The customs collection has fallen short of target by Rs13bn, as the collection amounted to Rs52bn in August against the target of Rs65bn. In the first month (July) of this fiscal year, the customs shortfall was recorded at Rs9bn.

When compared with last year’s figures, the collections in customs fell by 1.88pc as it was Rs53bn in the last year.

Inland Revenue Tax — income tax, sales tax and federal excise duty (FED) — collection reached Rs250bn against the target of Rs287bn, indicating a decline of Rs37bn or 12.58pc short of the target.

While income tax collection rose to Rs92bn, it was still Rs18bn or 16.36pc short of Rs110bn target projected for the month. Sales tax collection reached Rs141bn as against the target of Rs158bn projected for the same month, indicating a decline of Rs17bn or 10.75pc short of target.

Similarly, the FED collections clocked in at Rs17bn as against the target of Rs19bn, showing a decline of Rs2bn or 10.5pc short of target.

However, some improvement has been seen in the month of August this year in Inland Revenue Tax collection as compared to last year’s collection. It posted a growth of 26pc with Rs250bn revenue collection in August against Rs198bn over the corresponding month of last year.

Further analysis shows that the domestic Inland Revenue Tax, which was Rs110bn in August 2018, increased to Rs152bn in August 2019, showing an increase of 39pc. This growth is mainly achieved by a 39pc increase in income tax collection, 43pc in sales tax and 46pc in FED. Contrary to this, the collection of Inland Revenue Tax through import was recorded at Rs98bn in August as against Rs88bn in the second month of last fiscal year, indicating a growth of 11pc. This was mainly achieved by 17pc growth in sales tax, as income tax at import stage posted a negative growth of 16pc.

Published in Dawn, September 1st, 2019

. شرم مگر تم لوگوں کو آتی نہیں،

 

[RIP Pak LAW]

targets are always kept deliberately high ..achieving 90% of that traget is very good going keeping our past history in mind

 

[War Thunder]

This is PKR or $?

 

[TheDarkKnight]

This is PKR or $?

What do you think? Can FBR collect 297 billion $ in one month? Thats 3x of total foreign loans ...

 

[War Thunder]

What do you think? Can FBR collect 297 billion $ in one month? Thats 3x of total foreign loans ...

Kabhi to hoga $

 

[BATMAN]

Now please make Pakistan riasat Madina. awaiting.

 

[Hallian_Khan]

Riasat e madina aik din me nahi bani the aur risat e madina k talabgar hazrat khud ko b risat e madina ke awam jaisa banay ke koshish karain pehly

Now please make Pakistan riasat Madina. awaiting.

 

[Dil Pakistan]

Now please make Pakistan riasat Madina. awaiting.

Before that, make yourself worthy to be a citizen of Riyasat e Madina

 

[Syed1.]

Now please make Pakistan riasat Madina. awaiting.

Don't overestimate your auqaat

 

[Mrc]

This shortfall happened in a month with 10 day public holiday. .. And its not that huge is manageable

 

[Flight of falcon]

Now please make Pakistan riasat Madina. awaiting.

It can only be possible when your daddy and all his family members get their hands chopped off for stealing from poor. Are you willing to get that done?

 

[Code_Geass]

If we dont meet the revenue taget we will be heading towards another huge fiscal deficit.. Hopefully we meet the target

This shortfall happened in a month with 10 day public holiday. .. And its not that huge is manageable

 

[Shahzaz ud din]

FBR collects Rs580 billion in first two months of FY2019-20
By
News Desk
-
September 1, 2019
0
1

—Shabbar Zaidi says govt achieved 90pc of its revenue collection target

The Federal Board of Revenue (FBR) achieved 90 per cent of its revenue collection target set for the first two months of FY 2019-20.

In a Twitter post, FBR Chairman Shabbar Zaidi said that the FBR collected Rs297.4 billion this month, despite 8-10 non-working days. “So far, FBR’s target for FY2019-20 has been achieved to the extent of 90 per cent. [Rs] 580 billion against the target of [Rs] 644 billion,” the tweet said.


Syed Shabbar Zaidi@ShabarZaidi
Alhamdulillah FBR collection in this month is 297.4B despite 8-10 non-working days.

So far, FBR's target for FY2019-20 has been achieved to the extent of 90%.
580 Billion against the target of 644 Billion.
10.9K
1:53 PM - Aug 31, 2019
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“The positive aspects for the two months of FY2019-20 are that imports during the two months decreased by $1 billion,” he said, adding that the positive effect is taken into account, collection during the past two months is in line with the target.


Syed Shabbar Zaidi@ShabarZaidi
The positive aspects for the two months of FY2019-20 are that imports during the two months decreased by $1 Billion.

Therefore, if that positive effect is taken into account, collection during the past two months is in line with the target. Alhamdulillah.
5,754
1:09 AM - Sep 1, 2019
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Minister for Economic Affairs Division Hammad Azhar appreciated the positive result and said, “Excellent results by FBR by achieving 90 per cent of bold revenue target set for them.” He added that the break down in taxes show above 30 per cent growth in collection of inland sales and income tax.

“Residual 10 per cent shortfall coming due to the policy of import compression that is essential to reduce external deficits,” he added.

Earlier, Dawn reported that FBR had missed revenue collection target by Rs50 billion for the month of August.

This shortfall is in addition to the one recorded in the first month (Rs14 billion in July) of the current fiscal year, taking the total shortfall in revenue collection to Rs64 billion in just two months of the current fiscal year.

Against the target of Rs352 billion projected for the month of August 2019, the FBR managed to collect provisionally Rs302 billion, which is much below the government expectation in view of their claim to make record collection, it was reported.