ISLAMABAD   -  The Federal Board of Revenue (FBR) has collected Rs 1841 billion during July-October of the current Fiscal Year 2021-22 and exceeded the revenue collection target of Rs 1,608 billion by Rs 233 billion.

The provisional collection figures, during first four months of current fiscal (July1, 20121 to October 31, 2021), represents a growth of about 36.6 percent over the collection of Rs 1,347 billion during the same period last year, said the Federal Board of Revenue here Sunday.

As per the provisional revenue collection figures released by the Federal Board of Revenue (FBR), for the months July-October of current Financial Year 2021-22,  the revenue collection was 14.49 percent higher than the target.

FBR has collected net revenue of Rs1, 841 billion during July-October of current Financial Year 2021-22, which has exceeded the target of Rs 1,608 billion by Rs 233 billion. This represents a growth of about 36.6 percent over the collection of Rs 1,347 billion during the same period last year, the bureau said.

The net collection for the month of October, 2021 realized Rs 440 billion, representing an increase of 30.5 % over Rs 337 billion collected in October, 2020, said the bureau. On the other hand, the gross collections increased from Rs 1,413 billion during July-October, 2020 to Rs 1,932 billion in current Financial Year, showing an increase of 36.7 percent. 

The amount of refunds disbursed was Rs 91 billion during July-October, 2021 compared to Rs 66 billion paid last year, showing an increase of 37 billion, the bureau said.