FBR Exceeds Target with Record-Breaking Rs 9.3 Trillion Revenue Collection
The Federal Board of Revenue (FBR) has achieved an important goal by surpassing its revenue collection target for the fiscal year 2023-24. The top tax agency collected Rs 9,306 billion, which is Rs 54 billion more than the target.
This is a 30% increase from the previous year’s collection. In June 2024 alone, the FBR collected Rs 1,183 billion, boosting the total. This success shows the FBR’s crucial role in Pakistan’s economy.
Even with fewer imports, the FBR increased revenue through better domestic taxation and strategic policy changes. These changes included higher direct taxes on high-income groups and support for business growth.
The record revenue collection highlights the FBR’s strict enforcement of tax policies and its effectiveness in promoting economic stability and growth in Pakistan, proving its ability to adapt and succeed in tough situations.
