{"id":7322,"date":"2021-07-01T07:49:51","date_gmt":"2021-07-01T07:49:51","guid":{"rendered":"https:\/\/undergroundnews.co.uk\/?p=7322"},"modified":"2021-07-01T07:49:54","modified_gmt":"2021-07-01T07:49:54","slug":"fbr-meets-tax-collection-target-for-current-fiscal-year-2020-21","status":"publish","type":"post","link":"https:\/\/undergroundnews.co.uk\/?p=7322&lang=en","title":{"rendered":"FBR meets tax collection target for current fiscal year 2020-21"},"content":{"rendered":"\n<p><strong>Mishaal Arshad C.M Underground News.<\/strong><\/p>\n\n\n\n<p>ISLAMABAD: The Federal Board of Revenue (FBR) went over its tax collection target of Rs4,691 billion for fiscal year 2020-21 and managed to collect Rs4,725 billion.<\/p>\n\n\n\n<p>But the FBR didn\u2019t manage to meet its initially envisaged tax collection target of Rs4,963 billion for 2020-21, which was revised downward to Rs4,691 billion in line with the IMF agreement.<\/p>\n\n\n\n<p>Tax collections increased by 18.2% during the current financial year, FBR sources said.\u00a0<\/p>\n\n\n\n<p>Last year, the FBR had collected revenue of Rs3997 billion.<\/p>\n\n\n\n<p>The FBR made net collection of Rs555 billion in June 2021 that helped the bureau jack up its overall collection to Rs4,725 billion on June 30, 2021 night.\u00a0<\/p>\n\n\n\n<p>The FBR\u2019s collection stood at Rs4,170 billion during the first 11 months (July-May) period of the current fiscal year, so after adding collection of June 2021, the overall collection went up to Rs4,725 billion,\u2019 The News\u2019 reported.<\/p>\n\n\n\n<p>The FBR has not so far issued a press release and the Board will make a formal announcement today (Thursday).<\/p>\n\n\n\n<p>This is the first fiscal year where FBR has achieved net revenue collection growth in the range of 18.2%. In the first two fiscal years under the PTI led regime, the FBR\u2019s revenue growth had remained flat in 2018-19 and 2019-20. In the second year 2019-20, the COVID-19 pandemic had negatively impacted the FBR\u2019s growth endeavours, the publication reported.<\/p>\n\n\n\n<p>\u201cYes, the FBR has surpassed its revised tax collection target and so far, the collection stands at Rs4,725 billion on June 30, 2021,\u201d a senior FBR official confirmed.<\/p>\n\n\n\n<p>The official said the FBR\u2019s gross collection stood at Rs4,976 billion till June 30, 2021 and the Board paid refunds of Rs251 billion, so the net collection fetched Rs4,725 billion.\u00a0<\/p>\n\n\n\n<p>The FBR\u2019s gross collection was standing at Rs4,133 billion during the last financial year 2019-20 and the Board had paid refunds to the tune of Rs136 billion in this period.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Mishaal Arshad C.M Underground News. ISLAMABAD: The Federal Board of Revenue (FBR) went over its tax collection target&hellip;\n","protected":false},"author":3,"featured_media":7323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[76,71,38],"tags":[],"class_list":{"0":"post-7322","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-important-news","8":"category-latest-news","9":"category-pakistan","10":"cs-entry","11":"cs-video-wrap"},"_links":{"self":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/7322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7322"}],"version-history":[{"count":1,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/7322\/revisions"}],"predecessor-version":[{"id":7324,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/7322\/revisions\/7324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=\/wp\/v2\/media\/7323"}],"wp:attachment":[{"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/undergroundnews.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}