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FBR Surpasses Revenue Collection Target by RS 50 Billion

Islamabad: In August, the Federal Board of Income (FBR) exceeded its revenue collection goal by Rs 50 billion.

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The tax agency has earned more than Rs 400 billion in income as of August 30, 2021, compared to the objective of Rs 349 billion.

According to sources, FBR would receive between Rs 25 and Rs 30 billion on the last day of the current month of August, bringing total income collection to approximately Rs 430 billion.

Notably, the government has set a revenue target of Rs 5829 billion for the current fiscal year 2021-22.

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The finance minister is optimistic that the current fiscal year’s collection goal may be met by concentrating on Point of Sale (POS).

According to sources, the FBR often sends letters to retailers who do not integrate their machines with the FBR system, in addition to imposing steep fines.

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