Revenues Surpasses Target, Grow By 36.5 Pc To Rs2.314 Trillion In 5 Months
The revenue collection by the Federal Board of Revenue (FBR) witnessed a considerable growth of 36.5 percent during the first five months of the current fiscal year as against the corresponding period of last year
ISLAMABAD, (UrduPoint / Pakistan Point News - 30th Nov, 2021 ) :The revenue collection by the Federal Board of Revenue (FBR) witnessed a considerable growth of 36.5 percent during the first five months of the current fiscal year as against the corresponding period of last year.
While chasing the target of Rs. 408 billion fixed for the month of November 2021, the net collection was recorded at Rs. 470 billion, exceeding the target by Rs. 62 billion. This represents an increase of 35.2 percent over Rs. 348 billion collected in November 2020.
According to FBR statement, these figures would further improve before the close of the day and after book adjustments have been taken into account.
2,437 billion in current Financial Year, showing an increase of 36.7 percent.
It is pertinent to mention that after collecting over Rs. 4.7 trillion and exceeding its assigned revenue targets set for tax year 2020-21, FBR had successfully maintained the momentum set in July, 2021.
Its tax collection posted historic high growth in first quarter of current fiscal year, the statement added.
The spectacular performance in first five months of the current Financial Year clearly showed that FBR was well on its way to achieving the assigned target of Rs. 5,829 billion for the year despite the daunting challenges, compelling constraints posed by the corona pandemic, and sporadic tax cuts announced by the government as relief and price stabilization measures.