ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs6,000 billion against the budgeted target of Rs5,829 billion set for the whole fiscal year (2021-22). The gross revenue collection amounted to Rs6,305 billion for July-June (2021-22) and after payment of refunds of Rs305 billion, the net collection stood at Rs6,000 billion. Breakup of tax collection revealed that the net income tax collection stood at Rs2,191 billion during July-June (2021-22) against Rs1,671 billion during the same period of 2020-21, reflecting an increase of Rs520 billion. The FBR has provisionally collected Rs2,515 billion sales tax during 2021-22 against Rs1,963 billion in the corresponding period of 2020-21, showing an increase of Rs552 billion. The provisional collection of customs duty was Rs974 billion during 2021-22 against Rs734 billion in the corresponding period of 2020-21, showing an increase of Rs240 billion.

Source: Pakistan Today June 28, 2022 23:56 UTC