The Inland Revenue officers of the Federal Board of Revenue (FBR) recovered an amount of Rs. 144.3 billion from taxpayers in 2022-23 against Rs. 120 billion collected in 2021-22 showing a growth of 20.2 percent.
The FBR’s report revealed that significant efforts were made during 2022-23 to enhance the collection from Income Tax demand outstanding as past arrears and the demand raised during the year.
During 2022-23, overall collection from Collection on Demand (CoD) stood at Rs. 144.3 billion against Rs. 120 billion collected in 2021-22 showing a growth of 20.2 percent. The growth under this head was mainly driven by the collection of current demand which grew by 66.8 percent although the arrear demand showed a significant decline of 91.9 percent.
The major contribution has come from advance tax collection with Rs. 945.3 billion in 2022-23 against Rs. 569.3 billion in 2021-22, registering a growth of 66 percent. This component includes payments made at the time of submission of annual Income Tax Returns. Under this head Rs. 122 billion has been collected during 2022-23 against Rs. 79.9 billion in 2021-22, showing a growth of 52.7 percent.
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