FBR Crosses Rs. 6 Trillion in Tax Collection for the First Time

The Federal Board of Revenue (FBR) has provisionally collected Rs. 6,000 billion against the budgeted target of Rs. 5,829 billion set for the whole fiscal year (2021-22), reflecting an increase of Rs. 171 billion. So far, the FBR has achieved 98.3 percent of the upward revised target of Rs. 6,100 billion for 2021-22. According to the FBR’s spokesperson, the FBR will achieve the enhanced revenue collection target of Rs. 6,100 billion for 2021-22. The gross revenue collection amounted to Rs. 6,305 billion for July-June (2021-22). After payment of refunds of Rs. 305 billion, the net collection stood at Rs. 6,000 billion. The FBR has provisionally collected Rs. 6,000 billion in 2021-22 against Rs. 4,651 billion in 2020-21, showing an increase of Rs. 1,349 billion. Breakup tax collection revealed that the income tax collection stood at Rs. 2,191 billion during July-June (2021-22) against Rs. 1,671 billion during the same period of 2020-21, reflecting an increase of Rs. 520 billion. The FBR has provisionally collected Rs. 2,515 billion sales tax during 2021-22 against Rs. 1,963 billion in the corresponding period of 2020-21, showing an increase of Rs. 552 billion. The collection of the Federal Excise Duty stood at Rs. 320 billion during the period under review against Rs. 283 billion during the same period of 2020-21, reflecting an increase of Rs. 37 billion. The provisional collection of customs duty was Rs. 974 billion during 2021-22 against Rs. 734 billion in the corresponding period of 2020-21, showing an increase of Rs. 240 billion.