ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed revenue collection target for the first 10 months (July – April) 2021/2022 (FY22) and collected Rs4.86 trillion, a statement said on Saturday.
The provisional collection showed the FBR collected Rs4.86 trillion during the first ten months of the current fiscal year as against the target of Rs4.346 trillion. The FBR collected Rs239 billion above the revenue collection target.
The revenue body also posted a growth of 28.6 per cent to collect Rs4.86 trillion during the period under review as compared with the revenue of Rs3.778 trillion in the corresponding months of the last fiscal year.
The monthly collection showed an increase in collection of 25 per cent. The FBR collected Rs480 billion during April 2022 as compared with Rs383 billion in the same month of the last year.
The FBR said that it had agreed to a target of Rs6.1 trillion with the International Monetary Fund (IMF). However, it was never made a target for revenue collection. The actual revenue collection target was Rs5.829 trillion for the fiscal year 2021/2022.
The FBR would need Rs484.5 billion per month to achieve initial target of Rs 5.829 trillion and Rs 621 billion each in May and June to achieve revised target of Rs 6100 billion. The present government is determined to collect Rs.6100 in the current fiscal year.