FBR collects Rs1,841tr net revenue during Q1 of current fiscal year

Raza Kazmi

ISLAMABAD: 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 Rs1,347 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 in to account.
On the other hand, the gross collections increased from Rs.1,413 billion during July-October, 2020 to Rs.1,932 billion in 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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