On Saturday, the tax collection for the first half of the fiscal year 2021-22 (July-Dec) increased by Rs287 billion.
According to numbers released by the Federal Board of Revenue (FBR) on Friday night, the provisional revenue collection data for the months of July to December of the current Financial Year 2021-22 have been announced by the Federal Board of Revenue (FBR). According to preliminary data, the FBR collected Rs. 2,920 billion during the current Financial Year 2021-22, which is Rs. 287 billion higher than the target of Rs. 2,633 billion. This represents a 32.5 percent increase over the Rs. 2,204 billion was collected during the same period the previous year.
The net collection for the month of December 2021 was Rs. 600 billion, up 18.0% from Rs. 509 billion in December 2020. After accounting for book changes, these values would improve even further by the end of the day.
Gross revenues, on the other hand, grew by 32.5 percent from Rs. 2,315 billion in July-December 2020 to Rs. 3,068 billion in the current Financial Year July-December 2021. Similarly, reimbursements were handed out in the sum of Rs. 148 billion from July to December 2021, up from Rs. 111 billion the previous year, a 33.0% rise.
It’s worth noting that this was the sixth month in a row when tax collection exceeded expectations.