FBR surpasses FY2020-21 tax collection target

ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the revenue collection target of Rs 4,691 billion for the whole fiscal year of 2020-21 by amassing Rs 4,725 billion during July-June current fiscal.

Senior FBR officials told Business Recorder that the FBR has successfully achieved the assigned revenue collection target of Rs 4691 billion for 2020-21. The tax collection has crossed Rs 4725 billion mark. However, this is only a provisional figure and revenue collection would further show significant increase after compilation of data till 12 midnight June 30. These figures would further improve before the close of the day and after book adjustments have been taken into account.

The FBR has provisionally collected Rs 4725 billion during July-June (2020-21) against Rs3,996.7 billion during 2019-20, reflecting an increase of Rs 729 billion.

Officials said that the FBR net collection stood at Rs 555 billion during June 2021.

The FBR had issued instructions to all the Field offices to remain open and observe extended working hours till 12:00 midnight on 30th June, 2021(Wednesday) to facilitate the taxpayers’ in payment of duties and taxes.

Copyright Business Recorder, 2021