ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs346 billion during November 2020 against the assigned monthly target of Rs348 billion, reflecting a shortfall of Rs2 billion. During the period of July-November (2020-21), the FBR provisionally collected Rs1.686 trillion against the target of Rs1.670 trillion, reflecting an increase of Rs17 billion.

In November 2020, the FBR collected Rs346 billion, so the overall collection stood at Rs1.686 billion during the first five months of the current fiscal year. Sources told Business Recorder that the FBR had surpassed five months tax collection target for 2020-21.

The revenue collection will further improve during the month of December keeping in view corporate income tax payments. However, revenue position can further deteriorate in case of further lockdown to control the coronavirus in the country. The FBR has to reach the figure of Rs2, 210 billion to meet the half year target of July-December (2020-21).

According to sources, the revenue collection would further increase after book adjustments and reconciliation of revenue receipts from far-flung areas in the coming days. Updated data revealed that the revenue collection would reach Rs1.694 billion during Jul-November current fiscal year in next few days.

Copyright Business Recorder, 2020