IR offices to work on Saturdays for revenue target

IR offices to work on Saturdays for revenue target

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday said that all the offices of Inland Revenue (IR) will work on Saturdays to meet the revenue collection target.

The FBR in an official memo said that in order to enhance the efforts to meet the revenue target for the current financial year 2021/2022, all field formations will remain open and observe normal working hours on Saturdays with effect from February 12, 2022 till further orders.

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The FBR directed the Chief Commissioners IR to ensure that COVID-19 preventive SOPs are strictly followed.

So far the FBR has successfully maintained momentum of its growth trajectory in revenue collection.

According to the provisional figures FBR collected net revenue of Rs 3,352 billion during July, 2021 to January, 2022 of current Financial Year 2021-22, which has exceeded the target of Rs 3,090 billion by Rs 262 billion. This represents a growth of about 30.4 per cent over the collection of Rs. 2,571 billion during the same period, last year.

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The net collection for the month of January, 2022 realized Rs. 430 billion representing an increase of 17.2 per cent over Rs 367 billion collected in January, 2021. These figures would further improve before the close of the day and after book adjustments have been taken in to account.

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On the other hand, the gross collections increased from Rs 2,705 billion during July, 2021 to January, 2022 to Rs 3,533 billion in current Financial Year July, 2021 to January, 2022, showing an increase of 30.6 per cent.

Likewise, the amount of refunds disbursed was Rs 182 billion during July, 2021 to January, 2022 compared to Rs 134 billion paid last year, showing an increase of 35.9 per cent.

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