Federal Board of Revenue (FBR) collected the highest tax ever in the first quarter of the current fiscal year. FBR announced this achievement on its official Twitter account.
FBR spokesperson further said that despite zero tax on petroleum, oil, and lubricants products and the recent floods in Pakistan we still achieved this progress.
Here’s the official tweet of FBR
FBR creates history by collecting Rs.1635 billion in the first quarter of current FY. This performance is achieved despite zero sales tax on POL products, import compression and recent floods. FBR expresses gratitude to taxpayers for making this record collection possible.— FBR (@FBRSpokesperson) September 30, 2022
The total tax collected in the first quarter of the current fiscal year is Rs. 1635 Billion, This is an amazing achievement of FBR despite the country facing many challenges including the recent floods of Pakistan in which 1 third of the country was under water and still rescue work is going on to bring back everything normal.
Recently FBR extended the date of filing of Income Tax Returns up to October 31st, 2022 this move comes due to the flood situation in the country and other tax association bodies also requested FBR to extend the date.
Here’s the official statement on FBR Website regarding date extension:
“In view of current flood situation in country and requests from various trade bodies, Tax Bar Associations, and facilitation of general public, Federal Board of Revenue has extended the date of filing of Income Tax Returns up to October 31st, 2022 for all the taxpayers who were required to file Income Tax Returns by September 30th, 2022.”
FBR date extension decision is appreciated by everyone as this decision was much needed in these difficult times especially due to recent floods in Pakistan.