Islamabad: The Federal Board of Revenue (FBR) has surpassed its revenue collection target by Rs50 billion in August.
According to provisional data collected by the tax authorities, the tax department has collected more than Rs400bn in revenue till August 30, 2021, against the target of Rs349bn.
Sources said that FBR will collect Rs25 to Rs30bn on Tuesday, the last day of the current month of August, and revenue collection would reach around Rs430bn.
It is pertinent to note that the government has set an Rs5829bn revenue target for the current fiscal year 2021-22.
The finance minister is hopeful that it can achieve the collection target of the current fiscal year by focusing on Point of sales (POS).
Sources said that the FBR is regularly sending notices to retailers who do not integrate their machines with the FBR system besides imposing heavy fines.