PM’s economic policies, reforms in FBR bearing fruits: Farrukh

PM’s economic policies, reforms in FBR bearing fruits: Farrukh

ISLAMABAD, Aug 2 (APP): Minister of State for Information and Broadcasting Farrukh Habib on Monday said the business community was reaping fruits of reforms carried out in Federal Board of Revenue (FBR) by the present government.

In a series of tweets, he said Prime Minister Imran Khan had introduced reforms in the FBR and kept his prudent economic policies continued, which were equally benefiting business community including industries and traders.

For the first time in the history of Pakistan, he said, tax collection of Rs 431 billion in this year July broke all the previous records for the same month.

The minister said in July 2021, payment of taxes along with tax returns surged by 54 per cent, custom duties by 37 per cent, net revenue by 36 per cent, while gross revenue went up by 32 per cent.

In the same period, he said, number of income tax return filers rose by 30 per cent and tax refunds by 26.6 per cent while Pakistan Customs confiscated smuggled items worth Rs 3.6 billion.