FBR provisionally collected Rs2515 billion in sales tax during FY 2021-22
For the first time, FBR has collected Rs6 trillion in tax during the current fiscal year, with two more days to go
For the first time, FBR has collected Rs6 trillion in tax during the current fiscal year, with two more days to go. This is an increase of Rs171 billion from the set target of Rs5,829 billion for the fiscal year (2021-22).
Up till now, the FBR has received a 98.3% upward revised target of Rs6,100 billion for the FY 2021-22. According to a spokesperson for the state tax collector, they will receive the increased collection target for 2021-22.
FBR’s tax collection
For July-June (2021-22), the gross revenue collection was estimated to be Rs6,305 billion. After payment of Rs305 billion in refunds, the net collection stood at Rs6,000 billion.
Provisionally, the FBR has collected Rs6,000 billion in 2021-22, this digit stood at Rs4,651 in the last fiscal year. This shows an increase of Rs1,349 billion.
Similarly, breakup tax collection showed that income tax collection was Rs2,191 billion during July-June of FY 2021-22, which saw an increase of Rs520 billion from last year. The FBR provisionally collected RS2,515 billion in sales tax during 2021-22, against the Rs1,963 billion in the same period of 202-21.
When it came to collection of Federal Excise Duty, the number went from Rs283 billion (last year) to Rs320 billion during the same year. The provisional collection of custom duty was Rs974 billion during the fiscal year under consideration, this also saw an increase of Rs240 billion.
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