ISLAMABAD, June 28(ABC): The Federal Board of Revenue (FBR) has collected Rs6 trillion in taxes since the start of the outgoing fiscal year 2021-22 to date, recording a growth of 29%.
According to the provisional information, the FBR generated Rs6 trillion in taxes from July 1 to June 28 of the current financial year (2021-22), showing an increase of nearly 29% over the collection made during the same period of the previous fiscal year.
A few more billions will be added when revenue collection from book adjustments and others is cleared in the next two days.
For 2021-22, the government has revised the revenue collection target for the FBR at Rs6.1 trillion as against the earlier projection of Rs5.829 trillion. To date, the FBR has achieved 98.3% of the target set for the outgoing fiscal year.
Among the federal taxes, the income tax collection recorded a growth of 31% as FBR raised Rs2,205.3 billion, followed by Rs2,773.3 billion in sales tax in the outgoing fiscal year. However, the federal excise duty collection clocked in at Rs319.6 billion.