FBR Meets Tax Collection Targets For July.

The Federal Board of Revenue (FBR) released the provisional revenue collection figures of Rs458 billion for July 2022.

The FBR, according to the data, has collected net revenue of Rs458 billion during the period, which has exceeded the target of Rs443 billion by Rs15 billion.

These collections are the highest ever in the month of July, the FBR said, which represents a growth of about 10% over the collection of Rs417 billion during the same period, last year.

The figures are expected to improve after book adjustments have been taken into account.

On the other hand, the gross collection increased from Rs438 billion during July last year to Rs486 billion, showing an increase of 11%. Likewise, the number of refunds disbursed during July was Rs28 billion compared to Rs21 billion paid last year, showing an increase of 32%.

Owing to the paradigm shift, the domestic taxes contributed 55% to the collection, while...