FBR makes massive tax collection in first quarter of FY 2020 - 21

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FBR makes massive tax collection in first quarter of FY 2020 - 21

ISLAMABAD: The Federal Board of Revenue (FBR) has collected more than Rs1,000 billion revenue during the first quarter (July-Sept) of the current fiscal year (FY2020-21).

According to sources, the tax department collected Rs1,002 billion during the period under review, as against the target of Rs970 billion.

The tax department had collected Rs593bn during the first two month of FY21, while collection in September stood at Rs408bn, as against target of Rs418 billion.

Sources said that revenue collection during the quarter increased due to resumption of economic activities post Covid lockdowns.

Meanwhile, the department is also intensifying its crackdown on defaulters and tax evaders.