In an amazing turn of events, the Federal Board of Revenue was able to over their Tax collection target for the fiscal year 2020-2021. The FBR was supposed to collect taxes of Rs4,691 billion in the year that has passed. They were, however, able to collect a total of Rs4,725 billion which exceeded their tax targets. According to FBR sources, the tax collection target has increased by 18.2% in the fiscal year 2020-2021.
“Yes, the FBR has surpassed its revised tax collection target and so far, the collection stands at Rs4,725 billion on June 30, 2021,” – Senior FBR official.
Last year, FBR’s tax collection summed up to Rs4,133 billion, while the board paid refunds to balance the Rs136 billion
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