The FBR has finally met its revised annual tax revenue target. After which the volume of taxes collected has exceeded Rs. 3957 billion.
The Federal Board of Revenue (FBR) says that the revised annual target of tax revenue has been met after the economy was affected by the coronavirus. However, in total, more than Rs 3,957 billion in taxes have been collected.
According to the FBR, Rs 411 billion was collected in June as against Rs 398 billion, while the total annual revised target was Rs 50 billion more. For the first time in history, the target of Rs 4 trillion was achieved in terms of total revenue.
The Pakistan Tehreek-e-Insaf (PTI) government had set a target of Rs 5,238 billion in tax revenue in the 2019-20 budget. As a result, the revised tax revenue target was set at Rs 4,907 billion.
The Board of Revenue further said that despite the difficulties caused by Corona, the performance of the FBR is commendable. The outbreak has claimed the lives of more than 30 FBR personnel, including Grade 22 officers. Many people are still suffering from the deadly disease.