Staff Report
ISLAMABAD: With the federal government planning to present the budget 2021-22 on June 11, the Federal Board of Revenue (FBR) has set sales tax collection target for the upcoming fiscal year at Rs2,506 billion. Media reports said the sales tax collection target has been set at Rs2,506b in the upcoming budget 2021-22, 30 per cent higher as compared to the outgoing fiscal year’s target. They said the tax body aims to collect Rs2,500b sales tax on different goods while Rs6.61bn on services.
Sales tax collection stood at Rs1,415b during the July-March period of the current fiscal year. The sales tax collection target for the fiscal year 2020-21 is over Rs1,925b.
