FBR Surpasses Tax Collection Target for 4th Consecutive Month

The Federal Board of Revenue (FBR) has achieved its 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 Rs. 2,748 billion (2022: 2,159 billion) against the assigned target of Rs. 2,682 billion, thereby exceeding it by Rs. 66 billion. FBR has put in tremendous efforts to achieve revenue target for the month of October, 2023. As against Rs. 516 billion collected in the month of October 2022, FBR collected 707 billion during the month of October 2023, according to the statement issued by the FBR. At the same time, FBR also issued refunds amounting to Rs. 158 billion during the first four months as against Rs. 113 billion refunded in the corresponding period of the previous year. Total returns filed up to 31st October 2023 for the tax year 2023 were 2.9 million approximately as against 2.57 million filed in the corresponding period of the 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 the coming months of the current financial year.