ISLAMABAD: Federal Board of Revenue (FBR) has posted a robust growth of 48 per cent in the first month of the fiscal year 2021/2022. The collection in July 2021 is the highest collection in the same month of any past year.
The tax collection target for the fiscal year has been set at Rs5,829 billion.
The FBR has provisionally collected Rs410 billion in July 2021 as compared with Rs277.3 billion in the same month of the last year.
The FBR also surpassed the revenue collection target of Rs342 billion set for the month of July 2021.
Prime Minister Imran Khan commended the performance of the FBR in a tweet message. “I commend the efforts of FBR in achieving record revenue collection in July. As of now collection is Rs410 billion which is highest ever in the month of July and around 22 per cent above required target for the month,” the prime minister said.
The prime minister said the revenue collection performance is a reflection of the government’s policies for sustained economic growth and revival.
The provisional collection showed all the heads have recorded significant growth. The FBR collected Rs190 billion as sales tax, Rs135 billion as income tax, Rs22 billion as federal excise and Rs63 billion as customs duty during July 2021.