Everyday News

FBR collects net revenue of Rs458 billion in July FY22

ISLAMABAD: The Federal Board of Revenue (FBR) collected a total revenue of Rs458 billion during July 2022, exceeding the set target of Rs 443 billion.

invest with imarat

Islamabad’s emerging city centre

Learn More

According to figures released by the board, the last month of the fiscal year exceeded the monthly revenue target by Rs15 billion, representing an increase of 10% compared to the same period, last fiscal year.

The exceeding figure is a result of the FBR’s continued efforts to streamline its tax collection operations and to build further on the existing growth trajectory.

The increase in net revenue for July can largely be attributed to the government’s new policies and revenue measures under the Finance Act 2022.

The FBR had initiated a drive to integrate Tier-1 retailers into a streamlined system for tax collection. Almost 23,265 point of sale terminals have been integrated into the system with a real time POS reporting system, significantly improving the Boards revenue stream.

 

Ahmed Rehan

An editor and writer at Graana.com, Ahmed Rehan Nasir has a passion for creating engaging and informative content. With years of experience in the industry, Rehan has honed his writing skills and developed a deep understanding of SEO practices, crafting content that resonates with diverse audiences.

Recent Posts

A Guide to Quetta Town in Karachi

Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…

12 hours ago

Akbar Chowk Lahore: A Focal Point of Connectivity

Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…

1 day ago

A Guide to Khuda Baksh Colony Lahore

Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…

2 days ago

Gol Market Karachi: A Vibrant Commercial Hub

Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…

2 weeks ago

Model Town Gujranwala: A Well Planned Residential Area

Model Town, located in the heart of Gujranwala, is one of the city’s most prestigious…

2 weeks ago

Senate Greenlights Special Courts for Swift Resolution of Overseas Pakistanis’ Property Cases

ISLAMABAD, Pakistan— In a major move to address the longstanding grievances of overseas Pakistanis, the…

2 weeks ago