| Welcome to Global Village Space

Tuesday, April 16, 2024

PM Khan congratulates Pakistan for historic tax collection

The FBR recently exceeded its tax collection targets. Taking to Twitter, PM Khan appreciated FBR’s massive achievement and congratulated Pakistan. While tax collection may be improving under PM Khan, the public, instead of rejoicing, expressed concern over inflation.

Friday, PM Khan congratulated the nation on the Federal Board of Revenue’s (FBR) “achievement” of tax collection. FBR recently revealed that it surpassed the tax collection target by Rs 186 billion in the first quarter (July to September) of the current fiscal year.

Taking to Twitter, PM Khan appreciated FBR’s massive achievement.

“I congratulate the nation on FBR’s achievement of collecting Rs.1,395 billion in Q1 of FA 2021-22 against the target of Rs.1,211 billion.” PM Khan wrote.

“This represents a growth of 38 percent in revenues over the same period last year,” he further added.

As per provisional information, the FBR said it collected net revenue of Rs.1,395bn during the first quarter of the current fiscal year against the set target of Rs1,211bn, exceeding by Rs186bn.

Read more: FBR surpasses its tax collection target by a margin of Rs57 billion in July

The net collection for the month of September 2021 represented an increase of 31.2%. As per reports, the figures are set to improve before the close of the day and after taking into account book adjustments.

FBR also recently extended the date for filing income tax returns for individuals and companies to October 15, 2021.

Earlier, the FBR said it would not extend the deadline for people seeking to file their income tax returns. However, due to technical issues faced by tax filers as a result of server errors, FBR extended the date.

Read more: Former FBR chairman comments on the new Budget 2021-22

Tax collection improves under PTI but Pakistan still not happy?

This is not the first time FBR exceeded its targets. In September PM Khan announced that the FBR collected Rs850 billion during July and August 2021.

PM Khan also claimed that this exceeded its own target by 23 percent, registering year-on-year growth in the collection by 51 percent.

While tax collection may be improving under PM Khan, the public, instead of rejoicing, expressed concern over the rising prices.

As PM Khan gave glad tidings of FBR’s recent achievement on Twitter, Pakistanis flooded the comment section with criticism.

The latest bout of worry for Pakistanis is the hike in petrol prices. From Oct 1, the price of petrol will be Rs127.30 per liter, high-speed diesel will be Rs122.04 per liter, kerosene oil will be Rs99.31 and light diesel oil will be Rs99.51 per liter.

Read more: Asad Umar & Murtaza Wahab school each other over petrol prices