Islamabad: The Federal Board of Revenue (FBR) has collected PKR 2 trillion in tax revenue in the first four months (July-October 22) of the ongoing tax year, news sources reported on October 25.
According to a statement made on the FBR’s official Twitter account, the target for the month of October 2022 is PKR 534 billion, while the FBR has already collected PKR 365 billion in the first 24 days of the month, with 5 days remaining on the Income Tax return filing deadline.
The tax prediction for the second quarter (October–December) of 2022–23 is PKR 2,036.087 billion, whereas the FBR collected PKR 1,635 billion in the first quarter (July–September) of 2022–23, on top of the amount collected in October. The overall tax, including the current month’s proceeds, has enabled the FBR to surpass the PKR 2 trillion mark.
FBR has achieved yet another milestone today by crossing revenue collection figure of Rs. 2 trillion, a month earlier than last year. Chairman FBR Mr. Asim Ahmad appreciated the performance of Team FBR and expressed optimism to achieve the collection target set for FY 2022-23.
It is important to note that the deadline for filing income tax returns has been extended due to the complexity of IT tax return forms. The revised deadline is October 31, and it is expected to generate more revenue before the deadline.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
