FBR fails to meet December tax levy target
Islamabad: The Federal Board of Revenue (FBR) has failed to meet its tax levy goal of Rs.965 crore for December 2022, below Rs.225 crore, ARY News reported on Saturday.
According to the statement, the revenue watchdog collected Rs 740 crore in December. Against a target of Rs.965 crore, overall FBR consolidated Rs.3428 crore in the first six months of the current fiscal year.
In the current financial year 2022-23, the Tax Department collected Rs.3428 crore in the first six months as compared to Rs.2929 crore collected in the same period last year. which was an increase of 17 percent.
On top of that, FBR collected Rs.740 crore in December 2022 as compared to Rs.599 crore in the same month last year. That’s an increase of nearly 24 percent compared to the same month last year.
Direct tax collection increased by 66 per cent during December 2022 compared to December 2021. Direct tax collection for the first six months also increased by 49 per cent.
Meanwhile, Finance Minister Mohammad Ishaq Dar and Revenue Senator chaired a meeting on FBR’s revenue performance.
Read more: Ishaq Dar said he supports FBR’s tracking and monitoring system.
FBR Chairman Asim Ahmad gave a detailed presentation of FBR’s revenue and performance targets for November and December 2022.
He reminded the minister that the FBR had surpassed the revenue collection target until November. and expressed hope that it will achieve its goals in the remaining months of the 2022-23 financial year.
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The Minister of Finance expressed his satisfaction and appreciation of the FBR team for their efforts in achieving the goals. He also fully supports the FBR in performing their revenue collection duties.