Islamabad: According to press reports, the Federal Board of Revenue (FBR) recorded a collection of PKR 2.313 trillion in the first five months of the current fiscal year (FY-22).
Read More: FBR to initiate countrywide registration of 22 million taxpayer
The collected tax revenue is PKR 297 billion higher than the anticipated amount of PKR 2.016 trillion. The revenue received is also 36.6 percent higher than the same period last year, according to the provided numbers. In November alone, the apex tax agency collected PKR 470 billion, which is 62 billion higher than the set target of PKR 408 billion and 35% more than the same month last year.
Following a November staff-level meeting with the International Monetary Fund, Advisor on Finance and Revenue Shaukat Tarin indicated in a news statement that the government revised the tax objectives upwards to PKR 6.1 trillion from PKR 5.829 trillion (IMF).
Read More: FBR issues registration timeline for real estate agents
Furthermore, the data shows that income tax collections were higher at PKR 761 billion versus the aim of PKR 705 billion, while customs collections were higher at PKR 383 billion versus the target of PKR 325 billion.
For more details about the top real estate projects like Bahria Town Karachi 2, visit our website Tajarat Properties.