FBR achieves revenue collection target in four months

Islamabad: The Federal Board of Revenue (FBR) achieved revenue collection target for the fourth consecutive month with 43% domestic and 37% overall growth.

During the period July to October 2023, FBR has collected Rs2,748 billion (2022: Rs2,159 billion) against assigned target of Rs2,682 billion, thereby exceeding it by Rs66 billion.

FBR has put in tremendous efforts to achieve revenue target for the month of October, 2023. As against Rs516 billion collected in the month of October 2022, FBR collected Rs707 billion during the month of October 2023.

At the same time, FBR also issued refunds amounting to Rs158 billion during the first four months as against Rs113 billion refunded in the corresponding period of previous year.

Total returns filed up to October 31, 2023 for tax year 2023 were 2.9 million people approximately as against 2.57 million filed in the corresponding period of previous year showing an increase of 330,000.  

Chairman FBR appreciated the exceptional effort, hard work, professionalism and dedication displayed by FBR officers and officials. FBR is poised and determined to achieve assigned targets for coming months of the current financial year.