The Federal Board of Revenue (FBR) has been assigned to meet the quarterly target of Rs. 1.172 trillion for the third quarter (January-March) 2020-21 for meeting the annual target of Rs. 4.9 trillion for the current fiscal year.
FBR officials told Propakistani that the FBR has met the revenue collection target of Rs. 2.210 trillion set for the first half (July-December) of 2020-21. The revenue collection target of Rs 4.9 trillion for the whole fiscal year has not been revised by the FBR. The target for the first quarter (July-September) 2020-21 was fixed at Rs. 970 billion.
The said target was achieved by the tax machinery.
The quarterly target for the second quarter (October-December) for 2020-21 was fixed at Rs. 1.241 trillion. The target for the second quarter was also achieved by the FBR.
Now, the target for the third quarter (January-March) 2020-21 has been projected at Rs. 1.172 trillion
Officials added that the FBR has decided to focus on the annual revenue collection target of Rs 4.9 trillion.
The FBR has communicated the new targets for January-March (2020-21) for the third quarter to the field formations along with the enforcement strategy to achieve the assigned targets, officials added.