The government has set Rs. 4,963 billion as the revenue collection target of the Federal Board of Revenue (FBR) for 2020-21 against a revised target of Rs. 3,908 billion for 2019-20, reflecting an increase of Rs. 1,055 billion.

According to the breakup of tax projections for 2020-21, the direct tax target has been set at Rs. 2,043 billion for 2020-21 compared to Rs. 1,623 billion revised targets for 2019-20, showing an increase of Rs. 420 billion.

Indirect tax projections have been set at Rs. 2,920 billion for 2020-21 versus the revised target of Rs. 2,285 billion for 2019-20, showing an increase of Rs. 635 billion.

Within the category of direct taxes, the target of income tax has been set at Rs. 2,036 billion for 2020-21 against the revised target of Rs. 1,618 billion for 2019-20, showing an increase of Rs. 418 billion. The target of the Workers Welfare Fund has been set at Rs. 3,207 million for 2020-21 compared to Rs. 2,548 million for 2019-20, reflecting an increase of Rs. 659 million.

The target of capital value tax has been fixed at Rs. 3,014 million for 2020-21 against the revised target of Rs. 2,415 million for 2019-20.

Within indirect taxes, the target of customs duty has been set at Rs. 640 billion for 2020-21 against a revised target of Rs. 546 billion for 2019-20, showing a growth of Rs. 94 billion.

Sales tax projections have been set at Rs. 1,919 billion for 2020-21 against the revised target of Rs. 1,427 billion for 2019-20, showing a growth of Rs. 492 billion.

The target of Federal Excise Duty (FED) has been set at Rs. 361 billion for 2020-21 against the revised target of Rs. 312 billion for 2019-20, showing a growth of Rs. 49 billion.

The post Govt Increases FBR’s Revenue Targets by Rs. 1 Trillion appeared first on .

Originally Published on ProPakistani.com

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