ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the assigned revenue collection target of Rs2,898 billion for July-February (2020-21) by provisionally collecting Rs2,900 billion during the period under review, reflecting an increase of Rs2 billion.

According to the provisional data released by the FBR here on Friday, the FBR has amassed the target of Rs2,898 billion set for first eight months of the current fiscal year. The revenue collection target has been surpassed two days before the closure of the month which is a big achievement of the tax machinery.

This is despite speedy payments of refunds under the 'FASTER' system to the exporters.

Official sources told Business Recorder that the FBR has provisionally collected Rs340 billion during the first 26 days of February 2021 against the assigned target of Rs381 billion set for the whole month of February 2021.

The revenue collection would further increase in the next two days after compilation of final figures. They added that the FBR would be able to meet the target set for the remaining months of March-June of 2020-21.

Copyright Business Recorder, 2021