Islamabad: According to press reports, the Federal Board of Revenue (FBR) declared on Friday that it had exceeded the tax collection target set for October by 29 percent when compared to the similar data from the previous month.
According to the details, the FBR collected PKR 428 billion in October 2021, compared to a target of PKR 397 billion, an increase of PKR 31 billion. The provincial revenue collection during the first 29 days of October was PKR 428 billion, up from PKR 331 billion the previous year. It was reported that after gathering the final data by the end of the month, the income collection will be boosted even more.
According to reports, the board generated net revenue of PKR 1,829 billion from July to October 2021-2022, compared to the aim of PKR 1,608 billion, a 14 percent increase. The FBR collected PKR 1,829 billion in provincial taxes in the first four months of the current fiscal year, compared to PKR 1,342 in the first four months of the previous fiscal year, a 36 percent increase.