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Six-Month Tax Collection Target of FBR Exceeded

ISLAMABAD: The Federal Board of Revenue (FBR) tax collection target has been exceeded by Rs287 billion from July to December of the current fiscal year 2021-22. (H1FY22).

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According to the sources, FBR has accumulated Rs2.920 trillion in net revenue during the year under review, which is Rs287 billion more than the objective of Rs2.633 trillion. This is an increase of almost 32.5% compared to the Rs2.204 trillion collected during the same time previous year. The net collection for December 2021 is 600 billion rupees, an 18 percent increase from the 509 billion rupees collected in December 2020. It is anticipated that the results will improve before the end of the day and after accounting for book changes.

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The overall receipts grew by 32.5 percent from Rs2.315 trillion in July-December 2020 to Rs3.068 trillion in H1FY22. The number of reimbursements was Rs148 billion from July to December. Compared to the Rs111 billion paid the previous year, this is an increase of 33 percent.

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