close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
August 10, 2018

FBR to add Rs97bln amnesty amount in FY18 revenue collection

Business

August 10, 2018

KARACHI: The ministry of finance has allowed Federal Board of Revenue (FBR) to add Rs97 billion, collected under the amnesty scheme for the period ended June 30, 2018, in total revenue collection for fiscal year 2017/18, sources said on Thursday.

The FBR provisionally collected Rs3,751 billion for FY2018, which was short of Rs184 billion when compared with revised downward target of Rs3,935 billion for the fiscal year. Therefore, net revenue collection of the FBR for the last fiscal year will become Rs3,848 billion.

Officials said that the total revenue collected from the amnesty scheme for undisclosed foreign and domestic assets was around Rs120 billion, out of which around Rs23 billion was collected during July 2018, and added to the collection for the first month of the current fiscal year.

Officials at the local tax office said the FBR headquarter had asked to add to the total revenue collection for the last fiscal year as per the persons who availed the amnesty in their jurisdiction. The addition has been allowed for reconciliation purpose with the Accountant General of Pakistan (AGP), an official at the Regional Tax Office (RTO) Karachi said.

However, the official said the tax offices are unaware about the persons who availed the amnesty scheme, as the FBR HQ prohibited their access to the main database for viewing details. The FBR HQ would only share the number of taxpayers and the amount of revenue collected from them, the official said.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus