BusinessFBR Reliefs Tax Collection Facts for 2021-22

FBR Reliefs Tax Collection Facts for 2021-22

The Federal Bureau of Revenue (FBR) has reliefs tax collection facts for the fiscal year 2021-22, ARY News reported.

According to the data allotted by FBR, the tax collection for the year 2021-22 was Rs5349 billion.

The number is predictable to be higher after the accumulation of payment receipts, and final recollection by the State Bank of Pakistan.

The collection is 28.4% higher than the collection at the similar time last year.

Tax collection at the same time last year was Rs4164 billion.

An amount of Rs490 billion was collected in taxes in May 2022 which is 26.8% higher than May 2021. The tax collection in May 2021 was Rs387 billion.

Previous month, The FBR publicized a collection of net revenues of Rs4,858 billion.

Throughout the first ten months of the current fiscal year (July-April 2021-22).

Viewing a growth of 28.6 per cent over the collection of Rs3,778 billion for the duration of the corresponding period of last year.

On the other hand, the gross collections augmented from Rs3,981 billion during July-April (2020-21) to Rs5,122 billion in the current financial year July, showing an increase of 28.7%.

Similarly, the number of reimbursements disbursed through April 2022 was Rs34.6 billion although in April 2021, the refunds disbursed were Rs.19.6 billion, registering an increase of 76.2%.

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