Daily Times

ISLAMABAD: Prime Minister Imran Khan assures that the Federal Board of Revenue (FBR) can easily achieve its annual tax target of Rs5,829 billion While giving update on tax collection, PM Khan put on Twitter that earlier the federal tax body had collected Rs850 billion during the first two months (July and August) of the current fiscal year, surpassing its own target figure by 23%.

He said this reflects growth of 51% in revenue over the same period last year.

In early August, the premier had admired the FBR for attaining a record Rs410 billion in revenue in July 2021. Taking to Twitter, PM Imran Khan had said, “As of now, the collection is Rs410b, which is highest-ever in the month of July – and around 22% above required target for the month.”

PM Imran Khan further said that it’s in the agenda of the government to achieve highest revenue collection for sustained economic growth and revival. Earlier, in July, the FBR went over its tax collection target of Rs4,691 billion for the fiscal year 2020-21 and managed to collect Rs4,725 billion.

But unfortunately 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 an agreement with the International Monetary Fund. On the other hand, Tax collections increased by 18.2% during the financial year 2020-21, FBR sources said.