Prime Minister Imran Khan has lauded the efforts of the Federal Board of Revenue (FBR) in collecting record tax this year. The premier took to Twitter and said, “I commend efforts of FBR in achieving historic level of tax revenues of Rs4732bn in 2020-21 – exceeding the target of Rs4691bn & 18% higher than last year.”
Furthermore, PM Imran linked this achievement with the government policies, “This performance is testimony to the strong economic revival spurred by our government’s policies.”
The Federal Board of Revenue (FBR) went over its tax collection target of Rs 4,691 billion for fiscal year 2020-21 and managed to collect Rs 4,725 billion.
But the FBR didn’t manage to meet its initially envisaged tax collection target of Rs4,963 billion for 2020-21, which was revised downward to Rs4,691 billion in line with the International Monetary Fund (IMF) agreement.
Tax collections increased by 18.2 per cent during the Financial Year 2020-21, FBR sources said.
Last year, the FBR had collected revenue of Rs3,997 billion.
The FBR made a net collection of Rs555 billion in June 2021 that helped the bureau jack up its overall collection to Rs 4,725 billion by the night of June 30.
