PM Imran Khan commends FBR for achieving 'historic growth' of 41% in revenue collection

• PM Imran Khan praises FBR for achieving a historic growth of 41% in revenue collection.
• FBR makes record collections of Rs460 billion in March 2021.
• The premier says this reflects on broad-based economic revival triggered by the government's prudent policies.

Prime Minister Imran Khan has commended the efforts of the Federal Board of Revenue for achieving a historic growth of 41% in revenue collection.

FBR has made record collections of 460 billion rupees in March 2021.

The premier on Twitter said that from July 2020 to Mar 2021 collections reached Rs3,380 billion which is 10% higher than the same period last year.

He said this reflects broad-based economic revival triggered by the government's prudent policies.

According to FBR’s announcement on Wednesday, the board has released the provisional revenue collection figures for the first nine months of the current fiscal year. 

Read more: FBR crosses eight-month revenue collection target by Rs18b

According to the provisional information, FBR collected net revenue of Rs3,394 billion during the July-March period, which exceeded the target of Rs3,287 billion by more than Rs100 billion. 

This represents a growth of about 10% over the collection of Rs3076 billion during the same period last year.

Now the FBR will have to materialise Rs1,323 billion in the last quarter (April-June) period in order to display the revised target of Rs4,717 billion on its board by June 30, 2021.

Meanwhile, FBR’s efforts to broaden the tax base are expanding apace. Early signs suggest such efforts are bearing fruits. 

As of 28-2-2021, income tax returns for the tax year 2020 have reached 2.8 million compared to 2.6 million last year, showing an increase of 8 percent.