ISLAMABAD, Pakistan – The provisional revenue collection numbers for the first quarter of FY 2021-22 have been issued by the Federal Board of Revenue (FBR).

FBR received net revenue of Rs.1,395 billion in the first quarter of the current Financial Year, surpassing the objective of Rs. 1,211 billion by Rs. 186 billion, according to provisional data.

The net collection for September 2021 was Rs. 535 billion, up 31.2 percent from Rs. 408 billion collected in September 2020. After accounting for book changes, these statistics would improve much further by the end of the day.

Gross receipts, on the other hand, surged by 37.3 percent from Rs. 1,059 billion in July-September 2020 to Rs. 1,454 billion in the current Financial Year. During July-September 2021, refunds were Rs. 59 billion, up from Rs. 49 billion the previous year, representing a 20.2 percent rise. This reflects FBR’s determination to expedite reimbursements in order to avoid industry cash problems.

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