Prime Minister Imran Khan. — Instagram/Imran Khan 

ISLAMABAD: Prime Minister Imran Khan on Friday felicitated the nation on the achievement of the Federal Board of Income (FBR) of surpassing the gathering goal set for the primary quarter of the fiscal 12 months 2021-22.

The premier wrote on Twitter: “I congratulate the nation on FBR’s achievement of accumulating Rs.1,395 billion in Q1 of FA 2021-22 towards the goal of Rs.1,211 billion.” 

He added: “This represents a development of 38% in revenues over the identical interval final 12 months.” 

Tax assortment surpasses goal by Rs184 billion

The income board collected Rs1,395 billion within the first quarter (July-Sept) of the present fiscal 12 months towards the set goal of Rs1,211 billion, exceeding by Rs184 billion, in line with a report revealed in The Information.

The online assortment for September 2021 was Rs535 billion representing a rise of 31.2 % over Rs408 billion collected in September 2020. These figures would additional enhance earlier than the shut of the day and after ebook changes have been taken into consideration.

Alternatively, gross collections elevated from Rs1,059 billion throughout July-September, 2020 to Rs1,454 billion within the present monetary 12 months, exhibiting a rise of 37.3%.

The variety of refunds disbursed was Rs59 billion throughout July-September, 2021 in comparison with Rs49 billion paid final 12 months, reflecting a rise of 20.2%.

After accumulating over Rs4.7 trillion and exceeding its assigned income targets set for the tax 12 months 2020-21, the FBR has efficiently maintained the momentum set in July 2021.

Its tax assortment posted historic excessive development within the first quarter of the present fiscal 12 months. In the course of the first quarter, the FBR has far surpassed its income goal by Rs186 billion.

In line with an announcement, the FBR is effectively on its technique to reaching the assigned goal of Rs5,829 billion for the 12 months regardless of the daunting challenges, compelling constraints posed by the corona pandemic, and sporadic tax cuts introduced by the federal government as aid and worth stabilisation measures.

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