KARACHI: Federal Board of Revenue (FBR) surpassed its revenue collection target by Rs34 billion to Rs384bn in April, 2021.
April has emerged as the second consecutive month when the FBR revenue collection surpassed the projected monthly target despite Covid-19 impact on all segments of economy.
The net collection for April was Rs384bn against a target of Rs350bn, an increase of 9.7 per cent. Compared to the collection of Rs244bn in April 2020, revenue collection posted growth of 57pc.
The FBR has collected net revenue of Rs3.78 trillion during July 2020-April 2021 period, which has exceeded the target of Rs3.637tr by more than Rs143bn. This represents growth of about 14pc over the collection of Rs3.320tr during the same period last year.
Pakistan saw imposition of lockdown from mid-March 2020 owing to the Covid-19 pandemic which led to the lesser collection during the last year’s monthly collections in April 2020 and onwards.
It was second consecutive month when collection exceeded target despite Covid-19 impact on economy
The amount of refunds disbursed this year was Rs195bn compared to Rs118bn paid last year, showing an increase of 65.3pc.