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FBR collects Rs3 billion more tax than target


Islamabad: The Federal Board of Revenue (FBR) has collected revenues of 6,710 billion rupees during the first nine months of the current financial year which is 30 percent more than the target.

According to FBR, the tax collection target for this period was Rs6,707 billion, thus FBR collected Rs3 billion more than the set target.

According to the statement issued by the FBR, refunds worth Rs369 billion were issued in the first nine months of the current financial year, while refunds worth Rs254 billion were issued in the same period last year.

In the month of March alone, revenues of Rs879 billion were collected, refunds of Rs67 billion were issued in the month of March, and refunds of Rs22 billion were issued in March last year.

Moreover, the FBR has set an April 30 deadline for traders including small shopkeepers to get themselves registered with the Board.

The FBR has set the registration deadline for owners of stores, shops, dealers, retailers, and warehouses.

The tax will be collected from the traders based on the annual rental value of the shops included in the tax net.

According to the FBR directive, small shopkeepers will have to pay at least Rs1,200 per year as tax.

The FBR has extended by one month the tax registration in six major cities of Pakistan under a special scheme.

Shopkeepers who are not in the tax net will be forcibly brought into the tax net after the deadline, the FBR said and a central database of traders and shopkeepers will be created through the Tajir Dost app.

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