The Federal Board of Revenue’s (FBR) tax collection has increased to Rs. 7,000 billion for the first time in Pakistani history, according to Federal Minister for Finance and Revenue Ishaq Dar on Tuesday.
“Alhamdulillah! The Federal Board of Revenue has amassed Rs. 7,000 billion in revenue as of June 26 for the first time in Pakistani history. InshaAllah, it will continue to rise until June 30th,” according to Dar’s earlier today tweet.
الحمداللہ!
پاکستان کی تاریخ میں پہلی دفعہ فیڈرل بورڈ آف ریوینیو نے
26 جون تک محصولات کی مد میں 7000 ارب روپے اکٹھا کر لیا ہے۔30 جون تک اس میں مزید اضافہ ہو گا۔ انشاءاللہ۔
— Ishaq Dar (@MIshaqDar50) June 27, 2023
Tax machinery revenue targets still face a significant shortfall of Rs. 640 billion despite an increase in tax revenue. Officially, the FBR reported that Rs. 6,200 billion in taxes had been collected during the first eleven months (July-May) of the current fiscal year. To reach the annual target of Rs. 7,640 billion by the end of the current fiscal year, approximately Rs. 1,440 billion will be needed in June 2023.
The regulator must raise nearly Rs. 640 billion in the remaining working days of June 2023 to reach the annual target, with tax revenue at Rs. 7 trillion as of June 26.
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