Revenues collected by the Federal Board of Revenue (FBR) in the first four months of the current fiscal year was Rs1,841 billion (US$1 billion).
As preliminary figures issued by the Federal Board of Revenue (FBR) show, tax collections for the period July-October (2021-22) exceeded the anticipated target of Rs1,608 billion by a stunning Rs233 billion.
Compared to the previous year’s Rs1,347bn, tax collections increased by 36.6% over this time frame.
The Federal Board of Revenue (FBR) collected Rs440 billion in October of this year, compared to Rs337 billion in the same month last year, according to the latest available data.
For the first four months of this fiscal year, the Federal Board of Revenue issued refunds to the tune of Rs91 billion, compared to Rs66 billion in the same period last year, according to the FBR.
Imran Khan, the Prime Minister of Pakistan, commended the Federal Board of Revenue on Oct. 30 for exceeding its target of Rs 1,840 billion in tax collections for fiscal year 2018, which lasted from July to October this year.
According to him, “I want to express my congratulations to the Federal Board of Revenue (FBR) for accomplishing tax collection totaling Rs 1,840 billion for the months of July and October, which is 37% higher than the same period last year.” In addition, the tax collection in October exceeded the monthly target established by the government, according to him..