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FBR Exceeds October Tax Collection Target by Rs. 31 Billion
PNTEDITOR BUSINESS, PAKISTAN
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The Federal Board of Revenue (FBR) has exceeded the Rs. 397 billion tax collection target set for the month of October 2021.
It has so far collected Rs. 428 billion provisionally this month, compared to the assigned target of Rs. 397 billion, representing a Rs. 31 billion increase.
The FBR’s provisional revenue collection reached Rs. 428 billion in the first 29 days of October, up from Rs. 331 billion in the same period last year, representing a 29 percent increase. Revenue collection will increase after the final figures are compiled by the end of October 2021. These figures will continue to improve before the end of the day and after the book adjustments are made.
According to preliminary data, the FBR collected net revenue of Rs. 1,829 billion between July and October 2021-22, compared to the assigned target of Rs. 1,608 billion, indicating a 14 percent increase. It reached its target of Rs. 1,608 billion before the end of the current month.
On the other hand, gross collections increased by 36.7 percent from Rs 1413 billion in July-October 2020 to Rs 1932 billion in the current fiscal year. During July-October 2021, the number of refunds disbursed was Rs 91 billion, up from Rs 66 billion paid the previous year, representing a 37.7 percent increase.
PNTEDITOR BUSINESS, PAKISTAN
Share this post:
Share onTwitterShare onFacebookShare onPinterestShare onLinkedInShare onWhatsApp
The Federal Board of Revenue (FBR) has exceeded the Rs. 397 billion tax collection target set for the month of October 2021.
It has so far collected Rs. 428 billion provisionally this month, compared to the assigned target of Rs. 397 billion, representing a Rs. 31 billion increase.
The FBR’s provisional revenue collection reached Rs. 428 billion in the first 29 days of October, up from Rs. 331 billion in the same period last year, representing a 29 percent increase. Revenue collection will increase after the final figures are compiled by the end of October 2021. These figures will continue to improve before the end of the day and after the book adjustments are made.
According to preliminary data, the FBR collected net revenue of Rs. 1,829 billion between July and October 2021-22, compared to the assigned target of Rs. 1,608 billion, indicating a 14 percent increase. It reached its target of Rs. 1,608 billion before the end of the current month.
On the other hand, gross collections increased by 36.7 percent from Rs 1413 billion in July-October 2020 to Rs 1932 billion in the current fiscal year. During July-October 2021, the number of refunds disbursed was Rs 91 billion, up from Rs 66 billion paid the previous year, representing a 37.7 percent increase.
