PM Imran Khan has praised the Federal Board of Revenue (FBR) for achieving a historic growth of 41% in revenue collection as it has made a record collection of 460 billion rupees in March 2021.
In a tweet, the prime minister said that from July 2020 to March 2021 collections reached Rs3,380 billion which is 10% higher than the same period last year.
“This reflects broad-based economic revival triggered by the government’s prudent policies,” he added.
According to FBR’s announcement on Wednesday, the board has released the provisional revenue collection figures for the first nine months of the current fiscal year.
Now the FBR will have to materialise Rs1,323 billion in the last quarter (April-June) period in order to display the revised target of Rs4,717 billion on its board by June 30, 2021.
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As of 28-2-2021, income tax returns for the tax year 2020 have reached 2.8 million compared to 2.6 million last year, showing an increase of 8%.
Meanwhile, FBR’s efforts to broaden the tax base are expanding apace. Early signs suggest such efforts are bearing fruits.