Despite Lock-down, FBR Achieved 90% May2020 Target

Islamabad: Despite lock-down due to COVID-19, Federal Bureau of Revenue achieved 90 percent of tax collection target set for the May 2020. July to March collection is 6 percent up compare to previous fiscal year.

FBR’s target for May 2020 was PKR 250 billion but it had collected PKR 227 billion. Since the pandemic hit Pakistan, government had revised tax collection target three times. Business Activity was halted in April. For Eid festival, government relaxed retail business activity which has generated more revenue under the head of Sales Tax. May 2020 numbers will improve in the final counting.

Total collection during the July-May is Rs3.51 trillion, which is higher by only 6.8% when compared with the same period of the last fiscal year. FBR officials are confident to achieve revise target of Rs3.908 trillion.

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