FBR collects record Rs763b in June
Capacity to pay taxes is decreasing every year, which is resulting in a continuous increase in tax rates, decrease in tax-to-GDP ratio and reduced economic activity. Photo: file
Federal Minister for Finance and Revenue Miftah Ismail on Friday said the Federal Board of Revenue (FBR) had created history by collecting revenue of Rs763 billion in June.
Speaking at a press conference along with FBR Chairman Asim Ahmad, the minister said the board had never crossed Rs600 billion mark in the past as its previous record collection for a month was Rs580 billion.
“The FBR’s performance in the last quarter (of FY22) was excellent as the collection grew 32%,” he added.
Praising the efforts made by the FBR chairman and its officers, the finance minister said the tax collection increased despite the fact that the government released Rs39 billion in tax refunds last month, which were 44% more than those in the corresponding period of last year. He said a total of Rs105 billion had been paid in tax refunds during the just-ended fiscal year 2021-22, which were 55% higher than the previous year.
Miftah pointed out that during the fourth quarter (April-June) of FY22, a revenue of Rs1,741 billion was collected, up 29% YoY.
Published in The Express Tribune, July 2nd, 2022.
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