FBR Surpasses Provisional Tax Collection Target for August 2021

The Federal Board of Revenue (FBR) has exceeded the provisional revenue collection target for August, amid the ongoing economic recovery.

According to the FBR’s data, the revenue collection has crossed the figure of Rs. 400 billion as of August 30, 2021, against a target of Rs. 349 billion.

FBR is likely to collect Rs. 20 billion to Rs. 30 billion on Tuesday, the last day of the current month of August, and revenue collection might reach around Rs. 430 billion.

It is pertinent to note that the government has set Rs. 5,829 billion revenue target for the current fiscal year 2021-22.

The Finance Minister expressed hope that FBR can achieve the collection target of the current fiscal year by focusing on Point of Sales (POS).

It is worth mentioning that FBR also surpassed the July target by Rs. 71 billion and collected Rs. 413 billion against the target of Rs. 342 billion.