ISLAMABAD: The Federal Board of Revenue (FBR) has collected net revenue of Rs1,841 billion during the first four months (July-Oct) of the current fiscal year (4MFY22) against the assigned target of Rs1,608 billion.
In this regard, the tax bureau released provisional revenue collection figures detailing that the target was exceeded the target of Rs1,608 billion by Rs233 billion.
This represents a growth of about 36.6 per cent over the collection of Rs1,347 billion during the same period last year.
The net collection for the month of October amounting to Rs440 billion represents an increase of 30.5pc MoM over Rs337 billion collected in October, 2020.
These figures are expected to further improve before after book adjustments have been taken into account.
On the other hand, gross collections increased from Rs1,413 billion during the period under review to Rs1,932 billion in FY22, showing an increase of 36.7pc.
The amount of refunds disbursed during July-Oct was Rs91 billion compared to Rs66 billion paid last year, showing an increase of 37.7pc.
It may be mentioned here that the FBR’s tax collection has exceeded its monthly targets for the past four consecutive months.
