{"id":77518,"date":"2021-07-01T11:18:18","date_gmt":"2021-07-01T06:18:18","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=77518"},"modified":"2021-07-01T11:18:24","modified_gmt":"2021-07-01T06:18:24","slug":"fbr-surpass-tax-collection-target-2020-21","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-surpass-tax-collection-target-2020-21.html","title":{"rendered":"FBR surpass revised tax collection targets in FY 2020-21"},"content":{"rendered":"\n<p>Islamabad: The Federal Revenue Board (FBR) has exceeded the tax collection target by PKR 30 billion by bagging PKR 4.721 trillion against the revised set target of PKR 4.691 trillion, news sources reported. The original tax target for the fiscal year 2020-21 was PKR 4.96 trillion which was revised and set lowered mainly on account of pandemic induced lockdown and economic slowdown.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/amnesty-scheme-construction-fbr.html\" target=\"_blank\" rel=\"noreferrer noopener\">Extension in amnesty scheme for construction sector unlikely: FBR<\/a><br>The exceeded tax targets will further increase after more money is cleaned and adjusted with the targets of the previous year.<br>The apex tax body is now tasked to collect PKR 5.829 trillion in the fiscal year 2021-22 much higher than the revised target of the previous year. The tax collection is cumulatively 18% higher than the fiscal year 2019-20.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-tax-collection-historic-high.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR tax collection at historic high, crosses PKR 4 trillion<\/a><br>Moreover, the FBR data shows missed targets of tax collection in income tax and Federal Excise Duty (FED) regime by PKR 137 billion and PKR 25 billion respectively. However, the major tax has been recovered through indirect sales tax that now stands at PKR 317 billion owing to the higher double-digit inflation and soaring petroleum prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Revenue Board (FBR) has exceeded the tax collection target by PKR 30 billion by bagging PKR 4.721 trillion against the revised set target of PKR 4.691 trillion, news sources reported. The original tax target for the fiscal year 2020-21 was PKR 4.96 trillion which was revised and set lowered mainly on account of pandemic induced lockdown and economic slowdown. Read: Extension in amnesty scheme for construction sector unlikely: FBRThe exceeded tax targets will further increase after more money is cleaned and adjusted with the targets of the previous year.The apex tax body is now tasked to collect PKR 5.829 trillion in the fiscal year 2021-22 much higher than the revised target of the previous year. The tax collection is cumulatively 18% higher than the fiscal year 2019-20. Read: FBR tax collection at historic high, crosses PKR 4 trillionMoreover, the FBR data shows missed targets of tax collection in income tax and Federal Excise Duty (FED) regime by PKR 137 billion and PKR 25 billion respectively. However, the major tax has been recovered through indirect sales tax that now stands at PKR 317 billion owing to the higher double-digit inflation and soaring petroleum prices.<\/p>\n","protected":false},"author":84,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[46601,18032],"persona":[],"class_list":{"0":"post-77518","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr-exceeds-tax-collection-target","9":"tag-fbr-sales-tax","10":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR surpass revised tax collection targets in FY 2020-21 - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Revenue Board (FBR) has exceeded the tax collection target by PKR 30 billion by bagging PKR 4.721 trillion against the revised set\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-surpass-tax-collection-target-2020-21.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR surpass revised tax collection targets in FY 2020-21 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Revenue Board (FBR) has exceeded the tax collection target by PKR 30 billion by bagging PKR 4.721 trillion against the revised set\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-surpass-tax-collection-target-2020-21.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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