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FBR collected Rs22b in income taxes as filing season concludes Dec 8

ISLAMABAD: Federal Board of Revenue said Wednesday, marking the last day of tax filing, it amassed Rs22 billion making it the largest income tax amount historically collected on the occasion, ARY News reported.

The revenue board shared figures of tax filers as the session concluded yesterday noting 1.8 million files submitted which are up by four per cent of the target while tax collection surpassed 63 pc, it claimed.

It may be noted that last year in the corresponding period, FBR collected Rs13.5 billion in income tax head.

The government decided not to extend the tax filing date post-December 8, the board said, in order to restore people’s trust in deadlines and fair-play.

It added in its statement today that in order to facilitate tax filers, the board has taken key steps including online submissions, and allowing tax advisors to file multiple tax files in a single plea.

The number of tax files will in fact exceed 2.1 million filers, the board asserted its expectations while warning those who have failed to file their income taxes and violated the deadlines.

READ: FBR says it collected Rs65b more in Jul-Nov taxes YoY

Earlier last week, the revenue board shared its Monthly report on tax revenue collections across Pakistan noting Rs1.688 trillion in July-Nov period claiming a jump of Rs19 billion above target.

According to the FBR press statement released today, set target for Jul to Nov period was Rs1.669 trillion, however, the total collections marked Rs19 billion above the target, and added that on year-on-year comparison, this year translated in a surge of Rs65 billion.

In its revenue break up, the tax body said it earned Rs577 billion on account of income-tax, while Rs743 billion under the sales-tax head.

The collections in federal excise tax and customs duties remained at Rs104 billion and Rs264 billion respectively, the press statement recorded.

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