FBR Meets 10-Month Revenue Target, Collects Rs 380Bn
The Federal Revenue Board (FBR) has exceeded its target of collecting Rs 30 billion, reaching Rs 380 billion in April 2021, in addition to meeting its 10-month target for the current financial year.
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According to sources, the tax authority has collected Rs 3.780 billion in the first 10 months of the current financial year. “FBR hit its revenue target in ten months, as well as in April, due to increased imports,” they said.
Tax authorities now have to collect Rs 911 billion for the remaining two months of the 2020-21 financial year. Officials are optimistic that Domestic Revenue will easily meet the revised revenue target of Rs4.693 billion.
It should be noted that the government has set a revenue target of Rs 4,963 billion for the current financial year, but the International Monetary Fund (IMF) has authorized the government to adjust this target to Rs 4,693 billion during the current financial year. Evaluation was held in March.
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