Federal Board of Revenue collected Rs227 billion taxes in May 2020 – Research Snipers

Federal Board of Revenue collected Rs227 billion taxes in May 2020

According to an official statement, the Federal Board of Revenue (FBR) has collected taxes and duties of Rs227 billion in the month of May.

The official figures claimed that Rs3,518 billion revenue has so far been collected by the tax collection department of the country.

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According to the details, the tax collection of this year shows an increase of 7.7 percent compared with the Rs3,266 billion collected last year till May 2019.

The Federal Board of Revenue (FBR), in its statement, said that the department had managed to achieve 90% of the total revenue target of Rs3,908 billion for the current financial year.

The tax collection department further said that it has achieved 90 percent of its collection target despite the coronavirus pandemic slowing down the economy of the country and impacting the business.

On the other hand, the PTI-led federal government of Pakistan has reduced the price of petrol by Rs7.06 per liter for the month of June. According to the statement issued by the Ministry of Finance on Sunday, the new price of petrol for the month of June will be fixed at Rs74.52.

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