For the first time in the history of Pakistan, the Federal Board of Revenue has collected Rs6.1 trillion by surpassing the revised target. In an official statement, Pakistan’s apex tax agency officially released the record-breaking numbers of tax revenue collected during last FY 2021-22.
FBR collected 29% or Rs1.38 trillion more tax revenue than the previous corresponding fiscal year 2020-21. Imran Khan’s government had set the tax target of 5.829 trillion in its 2021-22 budget but later this target was revised in the mini-budget and RS 360 billion worth of additional taxes were added to the new tax revenue target.
On this landmark achievement, former Finance Minister Shaukat Tarin congratulated FBR and Imran Khan for this historic tax revenue collection. “Well done FBR. This was possible due to the strong economic growth and progressive tax policies of PMIK lead PTI. Bravo FBR, Bravo PTI. Now let’s not go back to regressive tax policies of taxing the already taxed and overtaxing the productive sectors of the economy”, said Tarin on Twitter.
During the tenure of the Pakistan People’s Party (2008-2013) and PMLN (2013-2018), they managed to collect Rs 1946 billion and Rs 3,842 billion in the last fiscal year of their government. PTI government collected Rs6.1 trillion in tax revenue which is more than the combined tax revenue collected during the last fiscal years of the PPP and PMLN governments.