43% increase in direct tax collections of FBR

The direct tax collections of Federal Board of Revenue (FBR) have recorded a growth of 43% on an annual basis during the last financial year.

According to the data released by the Ministry of Finance, in the fiscal year 2023, FBR received revenues of Rs3.272 trillion in the form of direct taxes, which is 43% more than the fiscal year 2022.

The data stated that in the fiscal year 2022, FBR received revenues of Rs2.280 trillion in the form of direct taxes.

In the last quarter of fiscal year 2022, the FBR received Rs963 billion in the form of direct taxes, which is 37% more than the same period of 2022. In the last quarter of the financial year 2022, FBR received Rs702 billion in direct taxes.

It is pertinent to note that during the last financial year, an annual growth of 17% has been recorded in the revenue of FBR. In the last fiscal year, the total revenue of FBR was recorded at Rs7.169 trillion which was Rs6.143 trillion in FY 2022.