ISLAMABAD: Federal Board of Revenue (FBR) has issued refunds refunds amounting to Rs.144 billion during July to December, 2020 against last year’s figures of Rs.76 billion during the same period last shown an increase of 89 percent.
The FBR Spokesperson said here Thursday that the healthy figures of refunds issuance have greatly boosted the economic activity in the country. Despite increase in refunds, FBR has still managed to cross the revenue collection in the first five months of current year.
FBR’s appreciable performance has been achieved despite the fact that the economy has been sluggish in the wake of on-going COVID-19 pandemic.
Moreover, the Government had extended significant tax relief measures for the public in the Finance Act-2020.