Miftah Ismail appreciates FBR for collecting a record amount of tax worth Rs 763 billion last month

ISLAMABAD, July 01 (SABAH): Minister for Finance and Revenue Dr. Miftah Ismail Ahmed has appreciated the Federal Board of Revenue (FBR) for collecting a record amount of tax worth 763 billion rupees last month.

Addressing a news conference in Islamabad on Friday along with Chairman FBR Asim Ahmed, Dr. Miftah Ismail said it shows an increase of 32 percent in tax collection. The Finance Minister said tax collection has never exceeded 580 billion rupees per month in the country.

He said 389 billion rupees in lieu of income tax was collected last month, recording an increase of 45 percent. Miftah Ismail said no advance tax was taken last month to achieve tax collection target.

He said during the 4th quarter of outgoing financial year since PML-N led allied government took over, the tax collection remained 1741 billion rupees, which is 29 percent more than last year’s same period.

The Finance Minister said refunds worth 39 billion rupees have been issued during the last month, recording an increase of 44 percent as compared to last year.