ISLAMABAD: The Federal Board of Revenue (FBR) has achieved Rs 42 billion more than the target was set initially during the first two months of the current financial year.
The Federal Board of Revenue (FBR) has collected Rs. 42 billion which is above the target set during the first two months (July-August) of the new fiscal year 2020-21. And the revenue details obtained in August have been released now.
According to the details released, the FBR has collected Rs 593 billion with an increase of Rs 42 billion against the target of Rs 551 billion set for the first two months of FY 21-2020, which is 108 percent of the set revenue target. In July and August last year, Rs 582 billion was collected, which has increased to Rs 593 billion this year.
Refunds of Rs 30.6 billion were issued in July and August to alleviate the economic woes of the business community due to the Corona epidemic, which was Rs 11 billion last year. Sales tax refunds are also under the central and automated fast system are being released within 72 hours as promised by the government.
via The Nation