FBR to collect historically high tax of PKR 6 trillion in fiscal year 2021-22

The Federal Board of Revenue (FBR) announced on Tuesday (June 28) that it will collect PKR 6 trillion in taxes in the fiscal year 2021-22 (FY22), sources reported. Tax revenue is the highest in the history of the country.

With just two days left until the tax collection deadline of June 30, the FBR surpassed its target of PKR 5,829 billion for the fiscal year. The tax breakdown shows that the administration collected PKR 2.205 trillion in income tax, PKR 2.773 trillion in sales tax and PKR 1.7 trillion in customs duties this fiscal year. In the same period, the Tax Office issued a refund of his PKR 305 billion. It is worth noting here that the government has set a target of PKR 72.5 trillion in tax collection for the tax year 2022-2023. (23 years). 

Taxes are 19% higher than the revised tax target of 61 trillion PKR set for this financial year.

Similarly, the FBR has announced that the tax collection hours at all his FBR district offices will be extended to 10 pm until June 30th.

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