ISLAMABAD, September 30, 2023: The Federal Board of Revenue (FBR) has collected tax revenue amounted to Rs. 2,041 billion against assigned target of Rs. 1,978 billion thus exceeding the target by Rs. 63 billion during the first quarter of the current financial year (FY24). The collection is also higher than the same period of last fiscal year, in which Rs 1644 billion were collected.
FBR has also put in exceptional efforts to achieve revenue targets for the month of September 2023. As against a target of Rs. 794 billion, FBR was able to collect Rs. 834 billion (2022: 688 billion), while refunds amounting to Rs. 37 billion were issued compared to Rs. 18 billion issued in September 2022.
However, severe import compression was witnessed during the month of September 2023. During the previous month, taxes at the import stage were collected at Rs. 299 billion whereas, during the current month, taxes at the import stage were only Rs. 254 billion.
FBR was able to make up the shortfall of Rs. 45 billion through domestic taxes, especially direct taxes. Team FBR has put in tremendous work. The sincerity and work ethic displayed by FBR officers and officials were exemplary. Moreover, FBR is committed to not only achieving the assigned target for the coming months of the current financial year but also surpassing it
