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Tuesday Jun 01 2021
By
Web Desk

FBR achieves 11-month target with Rs4,167b in tax collections

By
Web Desk

  • FBR has achieved its 11-month target after it collected Rs4,167 billion in the current fiscal year.
  • FBR has registered a growth of 18% after the tax collections.
  • According to sources, tax collections are increased by 70% as compared to May 2020.


ISLAMABAD: The Federal Board of Revenue (FBR) achieved its 11-month target after it collected Rs4,167 billion in the current fiscal year against Rs3,532 billion in the same period last fiscal year.

FBR has registered a growth of 18% after these tax collections. According to sources, tax collections are increased by 70% as compared to May 2020.

The FBR collected Rs387 billion in May 2021 against a desired monthly target of Rs357 billion, surpassing the collection target by a wide margin.

Read more: FBR extends date for profile update to facilitate taxpayers

The FBR collected Rs4,167 billion during July-May (2020-21) against a assigned target of Rs3,994 billion, reflecting an increase of Rs173 billion.

The FBR provisionally collected Rs386 billion in May 2021 against a monthly target of Rs357 billion, reflecting an increase of Rs29 billion.

The provisional revenue collection stood at Rs386 billion in May 2021 against Rs229 billion collected in the corresponding period of May 2020, showing an increase of Rs157 billion.