The Federal Board of Revenue (FBR) has exceeded its revenue target by receiving Rs 247 billion revenue in addition to its for July-March 2021-2022 Target.
According to preliminary data, FBR had a net revenue of Rs 4,382 billion from July 2021 to March 2022 of the current financial year 2021-2022, which exceeds the target of Rs 247 billion.
This represents an increase of approximately 29.1% over the collection of Rs 3,394 billion for the same period last year.
In the same way, the net collection in March 2022 was Rs 575 Billion, up 20.5% from the Rs 477 Billion collected in March 2021.
On the other hand, total revenue increased from Rs 3,577 billion in July 2020 to March 2021 to Rs 4,611 billion in the current fiscal year from July 2021 to March 2022, an increase of 28.9%.
The refund amount paid in March 2022 was Rs 31.9 billion, while the refund in March 2021 was Rs 26.3 billion, an increase of 21.3%.
in the same way Rs 229 billion was reimbursed from July 2021 to March 2022 compared to Rs 183 billion in same period of previous fiscal year which increased by 25.0%.
FBR ha taken various steps during the Fiscal Year 2022 to step up its revenue collection.
The impact of the tax credit on the sales of fertilizers, pesticides, tractors, vehicles, oil and butter, totaled 18 billion rupees.
Zero Tax on Pharmaceuticals in March 2022 was worth Rs 10 billion in sales tax.
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