The Federal Board of Revenue (FBR) has achieved the tax collection target of Rs. 2.898 trillion for the first eight months of the current fiscal year.
Till now, the tax machinery has been able to collect Rs. 2.900 trillion during July-February (2020-21) against the assigned target of Rs. 2.898 trillion.
Highly placed government officials told Propakistani the Ministry of Finance (MoF) has also scaled down the FBR’s tax collection target from Rs. 4.9 trillion to Rs. 4.7 trillion for 2020-2021. There is a decrease of nearly Rs. 246 billion in the tax projections of the FBR for the whole fiscal year of 2020-21.
The revenue collection target for March to June 2021 would now be set on the basis of decreased tax collection target of Rs. 4.7 trillion for 2020-21.
Sources further informed that FBR will meet the target of Rs. 381 billion for the month of February 2021. Till now, the FBR’s tax collection has reached Rs. 340 billion during the first 26 days of the current month.