PM lauds FBR on 35pc increase in Nov revenues

Prime Minister Imran Khan on Wednesday appreciated the Federal Board of Revenue (FBR) for achieving an increase of 35 per cent in revenues of November 2021 compared to the same month the previous year.

“Congratulations to the FBR team for achieving a 35% increase in revenues in November over last year,” the PM said in a tweet.

He also mentioned that the revenue collection for the month was a "37% increase in five months over last year."

The FBR on Tuesday said it had registered a “historic growth” in revenue collection of 36.5 per cent from July-November of the fiscal year 2021-22.

Read: FBR beats tax target by Rs298b

“It has collected net revenues of Rs2,314 billion during the first five months of the current FY against [the] set target of Rs2,016 billion, exceeding by Rs298 billion,” an official tweet of the FBR said.

The FBR exceeded the five-month tax collection target by Rs298 billion and received around Rs2.3 trillion, largely because of higher collection at import stage, which contributed more than half of total tax receipts.

The FBR remains the main beneficiary of increased imports and the nosediving rupee that significantly contributed to the collection of indirect taxes.