FBR Issues Refunds of Rs. 144 Billion in the Current Financial Year

Islamabad :Federal Board of Revenue (FBR) has issued a Press Release wherein it has been stated that In the current Financial Year from July to December, 2020, refunds to the tune of Rs. 144 billion against only Rs. 76 billion last year have been issued which has shown an increase of 89 percent. The healthy figures of refunds issuance have greatly boosted the economic activity in the country. Despite increase in refunds, FBR has still managed to cross the revenue collection in the first five months of current year. FBR’s appreciable performance has been achieved despite the fact that the economy has been sluggish in the wake of on-going Covid-19 pandemic. Moreover, the Government had extended significant tax relief measures for the public in the Finance Act-2020.