FBR succeeds in setting new tax collection record

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The Federal Bureau of Revenue FBR has managed to set a new record of tax collections by collecting about Rs 4,000 billion during the first eight months of the current financial year as compared to the same period last year. More than Rs.1000 billion was collected. According to the details, the FBR collected record taxes of Rs 3996 billion in the first eight months of the financial year.

According to the statement, during July-February 2021-22, 30% more taxes were collected than last year, while last year, during the 8 months, tax collections of 3074 billion were collected. According to the statement, tax refunds of Rs 197 billion were issued from July to January, while refunds of Rs 157 billion were issued during the same period last year. According to the declaration, tax collections of Rs 443 billion exceeded the target by February 2022. The target for February 2021 was set at Rs 441 billion.

It should be noted here that FBR managed to break all the records of tax collection during the first 7 months of the current financial year. The tax revenue received by the FBR increased by 30.4% in the first seven months of the current fiscal year. According to the FBR, Rs 3352 billion tax was collected from July to January, which is 30.4% more than the tax of Rs 2571 billion received last year. Which was 17.2 per cent higher than the tax of Rs 367 billion received in the same month last year. Refunds of Rs 182 billion have also been issued during July-January, which was 35.9% more than the refunds of Rs 134 billion during the same period last year.

Location: Pakistan

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