FBR tax collection clocks in at Rs1.84tr in 4 months

ISLAMABAD: The Federal Board of Revenue’s (FBR) tax collection clocked in at Rs1,841 billion in the first four months of the ongoing fiscal year.

According to provisional data released by the FBR, the tax collection during July-October (2021-22) exceeded the envisaged target of Rs1,608bn by a whopping Rs233bn.

The tax collection during this period rose by 36.6 per cent from last year’s Rs1,347bn.

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In October this year, the FBR raked in Rs440bn as compared to Rs337bn collected last year.

It released refunds to the tune of Rs91 billion during the first four months of the current fiscal year as compared to Rs66bn released last year, the FBR said.

On Oct 30, Prime Minister Imran Khan congratulated the Federal Board of Revenue for achieving a tax collection target of Rs 1,840 billion for the July-October period of the current fiscal year.

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“I want to congratulate FBR for achieving tax collection of Rs 1,840bn for July/Oct, which is 37% higher than last year,” he wrote on Twitter. The tax collection in October has also surpassed its set monthly target, he added.