FBR exceeds July-Oct net revenue target by Rs233bn

MG News | October 31, 2021 at 01:32 PM GMT+05:00

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October 31, 2021: Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the months July-October of current Financial Year 2021-22.

According to the provisional information, FBR has collected net revenue of Rs.1,841 billion during July-October of current Financial Year 2021-22, which has exceeded the target of Rs. 1,608 billion by Rs. 233 billion. This represents a growth of about 36.6 % over the collection of Rs. 1,347 billion during the same period last year.

The net collection for the month of October 2021 realized Rs. 440 billion, representing an increase of 30.5 % over Rs. 337 billion collected in October 2020. These figures would further improve before the after-book adjustments have been taken into account.

On the other hand, the gross collections increased from Rs. 1,413 billion during July-October, 2020 to Rs. 1,932 billion in the current Financial Year, showing an increase of 36.7 %. The amount of refunds disbursed was Rs. 91 billion during July-October, 2021 compared to Rs. 66 billion paid last year, showing an increase of 37.7 %.

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