The Federal Board of Revenue (FBR) has surpassed its tax collection targetof Rs 36 billion in March 2021 to Rs 475 billion, the highest monthlycollection in the current financial year (FY 2021).
According to the reports, the recovery target for the month of March wasset at Rs 439 billion, an increase of 8.2 per cent to Rs 475 billion, whilerevenue of Rs 326 was collected in March 2020, compared to an increase of46 per cent.
Prime Minister Imran Khan also praised the FBR for collecting more taxesthan expected in March.
Sending a message on Twitter, the Prime Minister appreciated the FBR’sefforts to achieve a historic growth of 41% in March 2021 with a collectionof Rs 460 billion.
“During Jul ’20-Mar ’21 our collections reached Rs.3380 bn which is 10%higher than the same period last year. This reflects broad-based econrevival led by govt policies,” he added.
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The FBR collected revenue of Rs 33.94 trillion in the first nine months ofthe current financial year, which is Rs 100 billion more than the target ofRs 32.87 trillion.
So far this year, refunds of Rs 177 billion have been issued as against Rs102 billion during the same period last year, an increase of 74 per cent.
