FBR exceeds tax collection target in 1QFY24


ISLAMABAD (INP): The Federal Board of Revenue (FBR) claimed to have collected Rs2,041 billion in taxes, exceeding the target of Rs1,978 by Rs63 billion, in the first quarter of the financial year 2023-24.

According to the FBR spokesperson, extraordinary efforts were made to meet the tax collection target in September.

During this month, Rs834 billion in taxes were collected against the target of Rs794 billion. Rs37 billion worth of refunds were also issued in this month.

During September 2023, only Rs254 billion could be collected under the head of import taxes due to a sharp drop in imports.

The FBR compensated the Rs45 billion shortfall in import taxes through domestic taxes, especially direct ones.

“The FBR is committed to not only meeting but also exceeding the tax collection targets during the remaining months of the current financial year,” the spokesperson stated.


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