Pakistan’s economic policies, tax reforms bearing fruits: official

ISLAMABAD: The business community was reaping fruits of reforms carried out in the Federal Board of Revenue (FBR) by the present government, an official said on Monday.

In a series of tweets, Minister of State for Information and Broadcasting Farrukh Habib said that Prime Minister Imran Khan had introduced reforms in the FBR and kept his prudent economic policies continued, which were equally benefiting the business community, including industries and traders.

For the first time in the history of Pakistan, he said, the tax collection of Rs431 billion in July broke all the previous records for the same month.

The minister of state said in July 2021, the payment of taxes along with the tax returns surged 54 per cent, Custom duty 37 per cent, net revenue 36 per cent, while the gross revenue went up 32 per cent.

In the same period, he said, the number of income tax return filers rose 30 per cent and the tax refunds 26.6 per cent, while Pakistan Customs confiscated smuggled items worth Rs3.6 billion.

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