Economy

FBR surpasses provisional tax collection target of 2688 billion rupees

PM praises Federal Board of Revenue for 57pc growth in collection

FBR collected 537 billion rupees in November 2022 compare to 480 billion rupees in November 2021
FBR collected 2,688 billion rupees in last 5 months compare to 2,330 billion rupees same peried last year
FBR refunded 135 billion rupees as against 124 billion rupees last year

 

The Federal Board of Revenue (FBR) has exceeded both targets of Rs2,680 billion set for July-November (2022-23) and the monthly target of Rs537 billion for November 2022.

Provisional gross revenue collection is recorded as Rs. 2,823 billion for the first five months as against Rs 2,454 billion collected during the corresponding period of the previous fiscal year. Collection of direct tax registered maximum growth of 43%.

The FBR in Income Tax arrears, collected Rs 24.17 billion during the five-month period as against Rs.11.69 billion collected last year.

The provisional net collection for the month of November, 2022 is Rs 538.2 billion which shows an increase of more than 11.5% over the collection of Rs 480 billion for November 2021.

FBR collected Rs 24.17 billion during the five-month period as against Rs.11.69 billion collected last year. During the month, Rs.8.98 billion was collected against Rs.6.65 billion collected last year.

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