ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed its collection target by Rs287 billion during July-December of current financial year 2021-22 (H1FY22).
As per the details, FBR has collected net revenue of Rs2.920 trillion during the period under review, which is Rs287 billion more than the assigned target of Rs2.633 trillion.
This represents a growth of about 32.5 per cent over the collection of Rs2.204 trillion during the same period of last year.
The net collection for the month of December, 2021 realized Rs600 billion representing an increase of 18pc 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, the gross collections increased from Rs2.315 trillion during July-December, 2020 to Rs3.068 trillion in H1FY22, showing an increase of 32.5pc.
Likewise, the amount of refunds disbursed was Rs148 billion during the July-December period compared to Rs111 billion paid last year, showing an increase of 33pc.
It is pertinent to note that this was the sixth consecutive month that the tax collection surpassed its projections.
