In a positive development, FBR surpasses tax collection target for month of July 22
*KARACHI: The Federal Board of Revenue (FBR) on Monday announced tax collection of Rs458 billion during July, the first month of FY2022-23, surpassing the collection target. *
According to the FBR, the tax collection target for July was Rs443 billion, however, they collected 15 billion more from the target which was also 10 percent more than the last month of June.
“The refunds in July 2022 also rose to Rs28 billion as compared to Rs21 billion in July 2021,” it said, adding that the number of tax filers have also rose to 3.4 million in FY2021-22 as compared to 3 million in FY2020-21.
It is pertinent to mention here that the Federal Bureau of Revenue (FBR) collected link a tax of Rs 6 trillion in the fiscal year 2021-22, exceeding the target of Rs5.8 trillion.
According to details, a total of Rs 6 trillion in tax was collected in the fiscal year 2021-22, an FBR spokesperson said.
Rs2.2 trillion was collected in income tax, while an amount of Rs2.7 trillion was collected link as sales tax in 2021-22.