Raza Kazmi

ISLAMABAD: Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the months July-November of current Financial Year 2021-22.
According to the provisional information, FBR has collected net revenue of Rs. 2,314 billion during July-November of current Financial Year 2021-22, which has exceeded the target of Rs. 2,016 billion by Rs. 298 billion. This represents a growth of about 36.5 % over the collection of Rs. 1,695 billion during the same period last year.
While chasing the target of Rs. 408 Billion fixed for the month, the net collection for the month of November, 2021 realized Rs. 470 Billion (Rs. 62 Billion in excess of assigned monthly target) representing an increase of 35.2 % over Rs. 348 billion collected in November 2020. These figures would further improve before the close of the day and after book adjustments have been taken into account.
On the other hand, the gross collections increased from Rs. 1,783 billion during July-November, 2020 to Rs. 2,437 billion in current Financial Year, showing an increase of 36.7 %.
The amount of refunds disbursed was Rs. 123 billion during July- November, 2021 compared to Rs. 88 billion paid last year, showing an increase of 40.5 %.