FBR Surpass Revised Tax Collection Targets in FY 2020-21
Islamabad: In a significant development, the PTI government exceeded its revised tax collection target of Rs 4.7 trillion in the previous fiscal year, mostly due to the restoration of economic activity in the country.
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The FBR has exceeded the revised tax collection goal of Rs 4.7 trillion for the 2020-21 fiscal year. In comparison to the previous year, when the FBR collected Rs 3,997 billion, tax collection has increased by 18.2%, he reported.
The government’s initial tax collection target for the previous fiscal year was Rs 4,963 trillion. With advice from the International Monetary Fund, it was later lowered downward to Rs 4.7 trillion (IMF).
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On the basis of Rs 4.7 trillion, the government has set an ambitious tax collection target of Rs 5.82 trillion for the upcoming fiscal year. However, Federal Minister for Finance and Revenue Shaukat Tarin is optimistic that the target will be met during the following fiscal year as a result of administrative procedures.
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