FBR Will Break Tax Collection Records This Year and in 2021-22: Tarin

Finance Minister, Shaukat Tarin, has said that the Federal Board of Revenue (FBR) will exceed the revenue collection target of Rs 4.7 trillion for the outgoing fiscal year and will achieve Rs. 5.8 trillion, as the target of the FBR for 2021-22. Taking about FBR’s performance at the launching ceremony of Economic Survey (2020-21), Finance Minister stated that the FBR tax collection during July-May (2020-21) stood at Rs. 4.2 trillion, which is 18 percent higher than the revenue collection during the July-May period of 2019-20. ALSO READ FBR Gives Final Deadline to Field Formations to Pay All Pending Sales Tax Refunds Shaukat Tarin stated that during the last 3-4 months, a very healthy trend has been witnessed. It has been observed that the FBR’s collection has witnessed month-to-month growth of 50-60 percent. The Finance Minister stated that the FBR would cross the assigned revenue collection target of Rs. 4.7 trillion by the end of the current fiscal year. Based on the performance of the FBR during 2020-21, the government is all set to fix Rs. 5.8 trillion as revenue collection target for 2021-22, he added.