Jul '21-May '22: Provisional tax collection stands at Rs5.349trn

ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected net revenue of Rs. 5,349 billion during July 2021-May 2022 against the assigned target of Rs 5,130 billion, reflecting an increase of Rs 219 billion.

The monthly tax collection for May 2022 stood at Rs. 490 billion against the target of Rs 511 billion, reflecting a shortfall of Rs 21 billion.

Now, the FBR has to collect an amount of Rs 751 billion in June 2022 to meet the upward revised target of Rs 6,100 billion. In June 2021, the tax machinery had collected Rs 571 billion.

The Federal Board of Revenue (FBR) has released the provisional revenue collection figures for July 2021-May 2022 of current financial year 2021-22.

According to the provisional information, the FBR has collected net revenue of Rs. 5,349 billion during July 2021-May 2022 of current financial year 2021-22. The provisional figures reported will further improve after closure of payment receipts and reconciliation with the State Bank of Pakistan. This represents a growth of about 28.4% over the collection of Rs. 4,164 billion during the same period, last year.

Copyright Business Recorder, 2022