FBR Exceeds Revenue Collection Target for May, Collects Rs. 760 Billion in Taxes

The Federal Board of Revenue (FBR) has exceeded the revenue target by collecting Rs. 760 billion for the month of May 2024 against the assigned target of Rs. 745 billion. The overall revenue growth remained 31 percent during the first eleven months of the year as compared to the same period last year. During the month of May, FBR registered a growth of 33 percent as compared to May 2023. The growth in domestic taxes has been 43 percent during the month. In a statement, FBR said it has been the policy of the government to mobilize more resources from the domestic taxes and FBR has put in a lot of effort to achieve assigned revenue targets. FBR chairman appreciated the determination and hard work depicted by FBR officers and officials. FBR is poised to achieve the assigned target for the last month of the current financial year i.e. June 2024, the statement said further.