December 24, 2020 (MLN): The Federal Board of Revenue has issued a statement saying that there has been a significant improvement in the payment of refunds, confiscation of smuggled goods, and receipt of income tax returns this financial year.

‘Refunds of Rs. 144 billion have been issued from July to December of the current financial year as compared to Rs. 76 billion issued during the same period last year’, FBR Spokesperson said in a series of tweets made today.

‘Despite the increase in refunds, the FBR has collected more revenue than the revenue of November last year till November of the current financial year. The increase in refunds has led to an improvement in economic activity. Despite the slowdown in the economy due to the Corona epidemic and significant tax relief in taxes and duties under the government's Finance Act 2020, the FBR has performed well in collecting revenue’, it added.

Copyright Mettis Link News

38839