ISLAMABAD – Minister for Finance and Revenue, Miftah Ismail has appreciated the Federal Board of Revenue (FBR) for achieving 28.7 percent growth in revenue collection during July 2021 to April 2022.
In a couple of tweet, he said that the top tax body collected Rs5,122 billion in current fiscal year, up from Rs3,981 billion during same period of last year.
“Refunds of Rs 264 b disbursed during Jul 21-Apr 22 compared to Rs 203 b paid last year, up by 30.1%. The FBR team deserves appreciation,” he wrote.
However, he pointed out that an increase in tax collection was witnessed due to surge in imports of Pakistan.
“A big factor in the increase however was increased imports. For instance, sales tax at import stage grew by 58% while it declined by 2% for local goods,” he explained.
A big factor in the increase however was increased imports. For instance, sales tax at import stage grew by 58% while it declined by 2% for local goods. With the right mix of policies and tools I am sure this team will perform even better & to the expectations of the nation. 2/2
— Miftah Ismail (@MiftahIsmail) May 1, 2022
Miftah hoped that the new team of FBR will perform better by adopting right mix of policies and tools.
Last week, the federal government appointed Asim Ahmed as new chairman of FBR, replacing Ashfaq Ahmed, who had been appointed during PTI’s tenure.
Reacting to Miftah’s appreciation for tax collection body, former finance minister Shaukat Tarin said that the FBR chairman should not be changed if the department has performed a good job.
https://twitter.com/shaukat_tarin/status/1520825806200705024
“Miftah Bhai, if FBR has done such a good job, you should not have changed its Chairman,” Tarin wrote on Twitter.
