KARACHI: The measures taken in the budget 2014/2015 have been offset by the political uncertainty created by sit-ins by in Islamabad as Federal Board of Revenue (FBR) has managed to achieve 14 percent growth in revenue collection during the first quarter of the current fiscal year.
According to provisional figures, the FBR collected Rs548 billion during July-September 2014 as against Rs481 billion in the same quarter of 2013/2014. The FBR has been assigned to achieve an ambitious revenue collection target of Rs2810 billion for 2014/2015 with 25 percent growth from the last fiscal year.
FBR collected Rs230 billion in September 2014 against Rs202 billion in same month last year, showing an increase of 14 percent.
The revenue collecting authorities introduced multiple measures in the budget to motivate people to get registered with tax authorities and levied different rates of withholding tax for filers and non-filers.