ISLAMABAD: The Federal Board of Revenue (FBR) surpassed its collection target by Rs30 billion, to reach Rs380 billion for April 2021, besides achieving its 10-month target for the ongoing fiscal year.
According to sources, the tax department had collected Rs3,780 billion during the first ten months of the current fiscal year. “FBR achieved its ten-month revenue target, as well as that of the month of April, due to increase in imports,” they said.
The tax department now has to collect Rs911 billion in the remaining two months of the fiscal year 2020-21. Officials are optimistic that the tax department will meet the revised revenue target of Rs4,693 billion easily.
It is pertinent to note that the government has set Rs4,963 billion as revenue target during the current fiscal year, but the International Monetary Fund (IMF) has allowed the government to revise it down to Rs4,693 billion during its review held in March.