Prime Minister Imran Khan appreciated the Federal Board of Revenue’s (FBR) efforts for collecting record revenue of over and above Rs. 4000 billion during July-May (2020-21).
In his tweet on Saturday, PM stated during July-May (2020-21) the revenue collection reached Rs. 4113 billion, 18 percent higher than the same period last year. This reflects the broad-based economic revival spurred by government policies.
I commend efforts of FBR in crossing historic milestone of Rs 4,000 bn in any yr for first time ever. During Jul-May our collections reached Rs.4143 bn & still counting – 18% higher than same period last yr. This reflects broad-based economic revival spurred by govt policies.
— Imran Khan (@ImranKhanPTI) May 29, 2021
When contacted, senior FBR officials told Propakistani that the tax machinery has been able to achieve the assigned revenue collection target of Rs. 357 billion for the month of May 2021. Till now, the provisional tax collection of the FBR amounted to Rs. 369 billion in May 2021 against the monthly target of Rs. 357 billion, depicting an increase of Rs. 12 billion.
The provisional revenue collection stood at Rs. 369 billion in May 2021 against Rs. 229 billion collected in the same period of May 2020, showing an increase of Rs. 140 billion. This is provisional data which would increase by May 31.
The revenue collection is expected to show an increase in the compilation of final figures on May 31 following the reconciliation of data and updation of figures from the field formations and ports.
The revenue collection target of June has been projected at Rs. 636 billion. The tax machinery is facing an uphill task to collect R.s 578 billion till June 30, 2021, for achieving the downward revised target of Rs. 4691 billion, they added.