FBR Exceeds 5-Month Tax Collection Target of Rs. 3,480 Billion

The Federal Board of Revenue (FBR) has exceeded both the five-month tax collection target of Rs. 3,480 billion as well as the monthly target of Rs. 534 billion for November 2023.Sources said that FBR has collected Rs. 736 billion in revenue against th…

The Federal Board of Revenue (FBR) has exceeded both the five-month tax collection target of Rs. 3,480 billion as well as the monthly target of Rs. 534 billion for November 2023.

Sources said that FBR has collected Rs. 736 billion in revenue against the target of Rs. 534 billion in November 2023, registering a growth of 38 percent.

The tax department has collected Rs. 3,484 billion in revenue against the target of Rs. 3,480 billion during the first five months of the current fiscal year.

According to FBR, the collection in November 2023 posted a significant increase despite 54 percent higher refunds than the corresponding period of the previous year.

Sources said that the FBR has so far served three million tax notices to non-filers during the current fiscal year. The FBR has obtained the data of these people from the National Database and Registration Authority (NADRA).

Source: Pro Pakistani