The tax collection during the first 2 months of the current fiscal year 2020-2021 reached Rs.593 billion, which is more than the target of Rs.551 billion, The Federal Board of Revenue (FBR) spokesperson said
While Releasing the statistics of the first 2 months of tax collection in July and August, an additional Rs.42 billion was collected by the Federal Board of Revenue, The spokesperson said it generated more in tax revenue than the set target for the first 2 months of the current financial year 2020-2021.
The spokesperson of FBR further said the original target for the months was Rs.551 billion, whereas, the collections reached to Rs.593 billion during the said period, The Tax collections are more than the amount amassed in the corresponding period last year, as well. In the preceding year, the first 2 months rallied up Rs.582 billion in tax collection or in other words, Rs.11 billion less than the amount now.
The FBR also said that Rs.30.6 billion in tax refunds were made to filers amid the fight against coronavirus, The statement added that the regulatory is dedicated to resolving the issues faced by traders.
The Tax collection regulator also noted that 75 officers of Federal Board of Revenue had been suspended or terminated during July and August for furthering its stance on transparency and restrain corruption.
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