FBR: Revenue collection surges by 28.6% in 10 months

ISLAMABAD: The Federal Board of Revenue (FBR) has collected net revenues of Rs4,858 billion during the first ten months of the current fiscal year (July-April 2021-22), showing a growth of 28.6 per cent over the collection of  Rs3,778 billion during the corresponding period of last year.

According to provisions figures shared by the FBR on Saturday, the collection during July-April (2021-22) also exceeded the target set for the period by Rs239 billion.

The claims of the Pakistan Democratic Movement (PDM) have proven false regarding the failure of the previous government led by Imran Khan as the latest statistics showed the growth in the tax revenue of the last 10 months of the fiscal year.

The net collection for the month of April 2022 stood at Rs480 billion representing an increase of 24.9 % over Rs. 384 billion collected in April 2021, the state news agency reported.

READ: BRING UNREGISTERED SUGAR DEALERS INTO TAX NET, PRESIDENT DIRECTS FBR

On the other hand, the gross collections increased from Rs3,981 billion during July-April (2020-21) to Rs5,122 billion in the current financial year July, showing an increase of 28.7%.

Likewise, the number of refunds disbursed during April 2022 was Rs34.6 billion while in April 2021, the refunds disbursed were Rs.19.6 billion, registering an increase of 76.2%.

Similarly, refunds worth Rs264 billion have been disbursed from July-April (2021- 2022) compared to Rs203 billion paid last year, showing an increase of 30.1%.