The Federal Bureau of Revenue (FBR) has released tax collection details for the fiscal year 2021-22, ARY News reported.
According to the data issued by FBR, the tax collection for the year 2021-22 was Rs5349 billion. The number is expected to be higher after the addition of payment receipts, and final recollection by the State Bank of Pakistan.
The collection is 28.4% higher than the collection at the same 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.
Also Read:FBR: Revenue collection surges by 28.6% in 10 months
Last month, The FBR announced a collection of net revenues of Rs4,858 billion during the first ten months of the current fiscal year (July-April 2021-22), showing a growth of 28.6 per cent over the collection of Rs3,778 billion during the corresponding period of last year.
On the other hand, the gross collections increased 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%.
Likewise, the number of refunds disbursed during April 2022 was Rs34.6 billion while in April 2021, the refunds disbursed were Rs.19.6 billion, registering an increase of 76.2%.
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