The Federal Board of Revenue (FBR) exceeded its revenue collection target of Rs. 4691 billion for the entire fiscal year 2020-21, collecting Rs. 4725 billion in FY21 (July-June).
According to top FBR officials, the FBR has met its set income collection target of Rs 4691 billion for 2020-21. The tax revenue has surpassed Rs. 4725 billion. However, this is simply a preliminary figure, and income collection will likely climb significantly after figures are compiled.
To assist taxpayers in paying duties and taxes, all Field Offices have been instructed by the FBR to remain open and adhere to extended working hours until 12:00 midnight on June 30, 2021. (Wednesday).
The FBR has also directed the Chief Commissioners (IR) and Chief Collector Customs to work with the State Bank of Pakistan and authorised branches of the National Bank of Pakistan to ensure that tax collections from these branches are transferred to the State Bank of Pakistan’s respective branches on June 30, 2021, in order to account for the month of June 2021.
