Tax collection in six months of FY2021-22 exceeds target by 32pc

ISLAMABAD: The Federal Board of Revenue (FBR) has collected taxes more than 32 percent of its target during the first six months of the Fiscal Year 2021-22, ARY NEWS reported quoting Minister of State for Information Farrukh Habib.

Farrukh Habib while taking to Twitter said that during the second quarter of FY2021-22, a 32 percent increase in tax collection is being witnessed bringing the collected revenues to Rs2920 billion.

“This is Rs287 billion more than the tax target of Rs2633 billion in six months,” he said and added that it happened owing to growth in economic activity and better collections from the FBR.

رواں مالی سال کی دوسری سہ ماہی میں FBRکی جانب سے 32%اضافہ کیساتھ 2920ارب کی ریکارڈ ٹیکس وصولیاں بہترین معاشی سرگرمیوں کی عکاسی کررہی ہے
یہ 2633ارب کے ٹیکس ہدف سےبھی 287ارب زیادہ ہے۔گزشتہ سال اسی مدت میں2204ارب کاٹیکس اکٹھا ہوا تھا
صرف دسمبر کے مہینے میں600ارب کا ٹیکس اکٹھا کیاگیا pic.twitter.com/AnBvvl6qI0

— Farrukh Habib (@FarrukhHabibISF) January 1, 2022

He said that during the last fiscal year, Rs2204 billion was collected during the same period. “The month of December 2021 saw a revenue collection of Rs600 billion,” he said.

The Pakistan Tehreek-e-Insaf (PTI) led federal government on Thursday tabled Finance (Supplementary) Bill 2021 — or the mini-budget in the National Assembly for approval.

The Finance (Supplementary) Bill 2021 was tabled by Federal Finance Minister Shaukat Tarin in the lower house amid protest by the opposition members.

The Federal Board of Revenue (FBR) has prepared a mini-budget as per the conditions of the International Monetary Fund (IMF), reversing an Rs350 billion tax relief on multiple products including mobile phones and imported vehicles.