In July, FBR collected Rs438 billion

ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the revenue target by Rs4 billion as against the projected target of Rs434bn for the first month of the current fiscal year.
An official announcement of the FBR said that net revenue collection reached Rs438bn for July and has even shown a 16.6pc growth as compared to the corresponding month of last year.
FBR paid Rs49 billion in refunds during the month under review. Direct taxes continue to show remarkable growth of 30pc during the current month.
The FBR team is optimistic about sustaining this growth pattern for the rest of the year.