FBR Surpasses Target, Achieves Record Rs 9.3 Trillion Revenue Collection

The Federal Board of Revenue (FBR) has achieved a significant milestone by exceeding its revenue collection target for the fiscal year 2023-24. The premier tax collection agency reported a total revenue of Rs 9,306 billion, surpassing the target by Rs 54 billion.

This impressive accomplishment marks a 30% increase compared to the previous fiscal year’s collection. In June 2024 alone, the FBR collected Rs 1,183 billion, significantly contributing to the overall total. This success underscores the vital role of the FBR in Pakistan’s economic system.

Despite a decline in imports, the FBR increased revenue through enhanced domestic taxation and strategic policy changes. These adjustments included higher direct taxes on high-income groups and measures to support business growth.

The record-breaking revenue collection reflects the FBR’s strict enforcement of tax policies. This achievement highlights the agency’s effectiveness in promoting economic stability and growth in Pakistan, showcasing its ability to adapt and succeed in challenging circumstances.

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