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FBR collects Rs458 billion taxes in July surpassing the target

KARACHI: The Federal Board of Revenue (FBR) on Monday announced it has surpassed the tax collection target for the month of July, collecting Rs458 billion during the first month of FY2022-23.

As per the FBR, the tax collection target for July was Rs443 billion, however, they collected 15 billion more from the target which was also 10 percent more than the last month of June.

“The refunds in July 2022 also rose to Rs28 billion as compared to Rs21 billion in July 2021,” it said, adding that the number of tax filers have also rose to 3.4 million in FY2021-22 as compared to 3 million in FY2020-21.

It is worth mentioning that the Federal Bureau of Revenue (FBR) collected a tax of Rs6 trillion in the fiscal year 2021-22, exceeding the target of Rs5.8 trillion.

Rs2.2 trillion was collected in income tax, while an amount of Rs2.7 trillion was collected as sales tax in 2021-22.

FBR spokesperson told that a total of Rs1,007 billion were collected in customs duty in 2021-22, while the FBR issued an amount of Rs305 billion in refunds.

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