ISLAMABAD: The Federal Board of Revenue (FBR) exceeded its seven-month net tax collection target by Rs262 billion, ARY News reported on Tuesday.
The FBR has successfully maintained the momentum of its growth trajectory in revenue collection.
According to the spox of the FBR, the supreme tax collection body collected Rs3,352 billion against its set target of Rs3,090 billion. This represents a growth of about 30.4% over the collection of Rs. 2,571 billion during the same period, last year.
FBR collected a tax of Rs430 billion in the month of January 2022 as compared to the collection of Rs367 billion in the same period of the previous year. The data showed an increase of 17.2% tax collection in the month of January.
It is pertinent to mention that FBR has introduced a number of innovative interventions both at policy and operational level with a view to maximizing revenue potential through digitization, transparency, and taxpayers’ facilitation.
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Earlier, the Federal Board of Revenue froze all bank accounts of cash-strapped Pakistan International Airlines (PIA) over Rs4.50 billion outstanding payments.
Sources within the tax collection body told ARY News that the national airline did not paid the federal excise duty (FED) that it collected on tickets over the past two years.
Later, the accounts were restored on the assurance of the PIA CEO about payment.
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