FBR collects revenues of Rs1841, surpasses collection target by Rs233bn

Revenues surpasses target, grow by 36.5 pc to Rs2.314 trillion in 5 months

ISLAMABAD, Oct 30 (APP): The Federal Board of Revenue (FBR) has collected net revenue of Rs1,841 billion during July-October of current Financial Year (2021-22), exceeding the target of Rs1,608 billion by Rs233 billion.

According to provisional figures released here Saturday, this represents a growth of about 36.6 percent over the collection of Rs1,347 billion during the same period last year.

The net collection for the month of October, 2021 stood at Rs 440 billion, representing an increase of 30.5 percent  over Rs337 billion collected in October, 2020.

These figures would further improve before the after book adjustments have been taken in to account, FBR said in a statement.

On the other hand, the gross collections increased from Rs1,413 billion during July-October, 2020 to Rs1,932 billion in current Financial Year, showing an increase of 36.7 percent.

The amount of refunds disbursed was Rs91 billion during July-October, 2021 compared to Rs66 billion paid last year, showing an increase of 37.7 percent.

By Muhammad Ashraf Wani

Senior Journalist with a professional experience spanning over 25 years. Have been delivering incisive and comprehensive coverage across various domains, with a specialized focus on economy, parliamentary proceedings and other pertinent beats.

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