FBR Surpasses Monthly Tax Collection Target 4 Months in A Row

The Federal Board of Revenue (FBR) has collected net revenue of Rs. 1,841 billion from July to October of the current financial year 2021-22.

FBR on Saturday released the provisional revenue collection figures for July-October Financial Year 2021-22.

According to the provisional information, FBR has collected net revenue of Rs. 1,841 billion during July-October exceeding the target of Rs. 1,608 billion by Rs. 233 billion. This represents a growth of about 36.6% over the collection of Rs. 1,347 billion during the same period last year.

The net collection for the month of October 2021 realized Rs. 440 billion, representing an increase of 30.5% over Rs. 337 billion collected in October 2020.

These figures would further improve before the after-book adjustments have been taken into account. On the other hand, the gross collections increased from Rs. 1,413 billion during July-October 2020 to Rs. 1,932 billion in the current Financial Year, showing an increase of 36.7%.

The number of refunds disbursed was Rs. 91 billion during July-October 2021 compared to Rs. 66 billion paid last year – an increase of 37.7%.

The Minister for Finance and Revenue on Saturday congratulated the FBR team and Chairman on the excellent tax collection. The collection has exceeded its monthly targets for four consecutive months, he tweeted.