FBR registers 32.5pc growth during July-Dec

ISLAMABAD: Tax collection has exceeded in the first half (July-Dec) of the Fiscal Year 2012-22 by a margin of 287 billion.

According to the details released by the FBR Friday night, provisional revenue collection of Rs2,920 billion during July-December of current Financial Year 2021-22 has exceeded the target of Rs2,633 billion by Rs287 billion. This represents a growth of about 32.5% over the collection of Rs2,204 billion during the same period last year.

The net collection for December, 2021 realized Rs600 billion representing an increase of 18.0% over Rs509 billion collected in December, 2020. These figures would further improve before the close of the day and after book adjustments have been taken into account.

On the other hand, gross collections increased from Rs2,315 billion during July-December, 2020 to Rs3,068 billion in the current financial year July-December, 2021, showing an increase of 32.5. Likewise, the amount of refunds disbursed was Rs148 billion during July-December, 2021 compared to Rs111 billion paid last year, showing an increase of 33.0%.