PM Imran Khan congratulates the country on FBR’s 38% increase in tax collection to Rs 1,395 billion

Business

On Friday, Prime Minister Imran Khan congratulated the nation on the Federal Board of Revenue’s (FBR) performance of collecting Rs 1,395 billion in revenue in the first quarter of fiscal year 2021-22.

“I congratulate the people on FBR’s performance of collecting Rs.1,395 billion in Q1 of FA 2021-22 against a target of Rs.1,211 billion,” Prime Minister Narendra Modi wrote on Twitter. Imran went on to say that the accomplishment represented a “38 percent increase in revenues over the same period last year.”

The board met its first-quarter income target, receiving Rs1.4 trillion, but failed to enlarge the tax base, with the number of return filers dropping 42 percent to barely 1.8 million by the statutory deadline.

The FBR extended the deadline by 15 days from September 30, which was set under the Income Tax Ordinance, due to a failure to raise the number of tax return filers combined with the failure of the information technology system on the last day.

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