FBR exceeds revenue target, collects Rs760bn in May

Islamabad: The Federal Board of Revenue (FBR) exceeded its revenue target by collecting Rs.760 billion during the month of May 2024 against the target of Rs. 745 billion, the board said in a press release issued here Friday.

The overall revenues grew by 31% during the first eleven months (July-May) of the fiscal year 2023-24 as compared to the same period last year.

On year-on-year basis, the collections in May 2024 witnessed remarkable growth of 33% as compared to May 2023. The growth in domestic taxes has been 43% during the month which is very impressive, the statement said adding it has been the policy of the government to mobilize more resources from the domestic taxes.

Team FBR has put in a lot of effort to achieve assigned revenue targets, it added. The Chairman FBR appreciated the determination and hard work depicted by FBR officers and officials.

FBR is poised to achieve assigned target for the last month of the current financial year June, 2024, the statement added.