ISLAMABAD: The Federal Board of Revenue (FBR) has collected net revenue of Rs2,920 billion during July-December (2021-22) against the assigned target of Rs2,633 billion, reflecting an increase of Rs287 billion.

The FBR Friday released the provisional revenue collection figures for the months, July-December of current Financial Year 2021-22.

According to the provisional information, the FBR has collected net revenue of Rs2,920 billion during July-December of current Financial Year 2021-22, which has exceeded the target of Rs2,633 billion by Rs287 billion.

This represents a growth of about 32.5 percent over the collection of Rs2,204 billion during the same period, last year.

The net collection for the month of December 2021 realised Rs600 billion representing an increase of 18 percent over Rs509 billion collected in December 2020.

These figures would further improve before the close of the day and after book adjustments have been taken in to account.

On the other hand, the gross collections increased from Rs2,315 billion during July-December 2020 to Rs3,068 billion in the current Financial Year July-December 2021, showing an increase of 32.5 percent.

Likewise, the amount of refunds disbursed was Rs148 billion during July-December 2021 compared to Rs111 billion paid last year, showing an increase of 33.0 percent.

This story was first published in Business Recorder on Jan 1, 2022.