FBR tax collection surpasses target in July, says Asad Umar

FBR tax collection surpasses target in July, says Asad Umar
Islamabad: Federal Minister for Planning and Development, Asad Umar has said that the Federal Board of Revenue (FBR) has surpassed tax targets set for July.

Taking to twitter, Asad Umar wrote that FBR has collected Rs. 57 billion more than the set target.

While praising the performance of FBR, he said that it is the outcome of a sharp bounce back of Pakistan’s economy due to a highly successful Covid-19 control effort.

“Excellent FBR tax collection in july, Rs. 57 bn more than target, reflect good performance of new FBR team & a sharp bounce back of Pak economy due to a highly successful covid control effort , allowing economic activties to resume, while other countries continue to struggle,” Asad Umar tweeted.

 

Yesterday, Federal Board of Revenue (FBR) announced to achieve tax targets set for the first year of the fiscal year 2020-21.

“We have collected Rs 300 billion in July, surpassing the tax targets by Rs 57 billion,” the FBR spokesman said while terming the collection as 125 percent of the tax targets.

We received an excess amount of Rs 52 billion from the Inland Revenue and Rs 5 billion additional amount in terms of customs duty, the tax collection body said.