PM Imran hopes FBR will ‘comfortably’ achieve annual tax target

18

ISLAMABAD – Prime Minister Imran Khan hoped that the Federal Board of Revenue (FBR) will comfortably achieve the ambitious target of Rs5,829 tax collection for running fiscal year 2021-22.

The premier in a tweet on Wednesday said that FBR collected Rs850 billion during first two months (July and August) of FY2022, surpassing its target by 23%.

The figure reflects growth of 51% in revenue collection over same period of last year.

“At present rate, annual collection target of Rs.5,829 bn will be comfortably achieved InshaAllah,” PM Khan said.

Last month, the premier also complimented FBR for reaching “record revenue collection” in July.

According to the PM, the total current collection for the month of July is Rs410 billion. This was the ‘highest ever’ revenue collection for July, and it was 22% more than the monthly goal.

“This is a reflection of the government’s policies for sustained economic growth & revival”, PM said in a tweet.

According to data released by the revenue board last month, the FBR collected Rs410 billion in the July 2021, compared to a monthly goal of Rs341.7 billion. The monthly collection amounted to 7% of the total yearly goal.

The preliminary collection was 36.5% more than the income collected in the same month of the previous fiscal year, or Rs109 billion.

The FBR has had a strong start to the current fiscal year, as it did the previous fiscal year when it surpassed July’s goal by Rs57 billion.

Read more: https://pakobserver.net/pakistan/

Previous articleDr Abdul Qadeer Khan put on ventilator as health deteriorates due to Covid-19
Next articlePakistan receives first consignment of Russian-made Sputnik V vaccine