KARACHI: Collection of income tax on exports declined 12 percent during the first quarter of the current fiscal year of 2020/21 as laggard outbound shipments were further affected by lockdowns related to coronavirus, sources said on Monday.
The Federal Board of Revenue’s (FBR) income tax collection from exports fell to Rs1.55 billion during the first quarter of the current fiscal year as compared with Rs1.77 billion in the corresponding period of the last fiscal year.
Officials at Large Taxpayers Office (LTO) Karachi said the tax collection under the head of export witnessed decline due to lower export receipts following falling demand in the international markets.
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