FBR has collected revenue more than the target in the financial year 2023-24. According to FBR, the revenue target for 2023-24 was Rs. Revenues of nine thousand three hundred and six billion rupees were collected.
According to FBR, the target of tax collection for the current financial year was 9 thousand 410 billion rupees, but FBR has reduced the target of tax collection to 9 thousand 252 billion rupees. According to FBR, last financial year Revenue collection increased by thirty (30) percent compared to
The revenue target for the last financial year was 164 billion rupees, but FBR collected 2 thousand 142 billion rupees more than the target. According to FBR, only during June 2024, revenues of 1183 billion rupees were collected.
According to the FBR, refunds worth 469 billion rupees were issued in the financial year 2023-24 as per the instructions of the Prime Minister, and refunds worth 331 billion rupees were issued in the previous financial year.
The FBR said the policy shift focused more on local resource mobilization, increased direct taxes on the rich and resourceful, and provided relief to entrepreneurs and exporters by issuing refunds. According to the FBR, domestic taxes have increased by 37% and import taxes by 18%.
4 thousand 528 billion rupees were collected in the form of income tax, while 3 thousand 98 billion rupees were collected in the form of sales tax. According to FBR, during the current fiscal year, the share of direct taxes was 47 percent, domestic taxes 6 thousand 128 billion, and 3 thousand 178 billion rupees were collected as import taxes. According to FBR, 576 billion rupees were collected in federal excise duty and 1 thousand 104 billion rupees were collected in customs duty. A meeting was held at the FBR headquarters under the chairmanship of the Federal Finance Minister.
In the meeting, the Finance Minister appreciated the FBR team for collecting more than the target revenue for the financial year 2023-24. The Finance Minister congratulated the FBR team for the exemplary performance of revenue collection of Rs.9311 billion. More According to the details, Minister of State for Finance Ali Pervaiz Malik participated in the meeting through a video link from Lahore. The Finance Minister along with the Chairman of FBR and members of the Board cut the cake on the excellent performance of FBR. In the meeting, revenue collection, digitization And reiterated commitment to fully support FBR’s initiatives to document the economy
