FBR achieves record revenue collection of Rs 9.3 trillion, surpassing target

KARACHI – Federal Board of Revenue (FBR) has achieved a significant milestone by surpassing its revenue collection target for the fiscal year 2023-24.

In last FY, the apex tax collection agency got raked in Rs 9,306 billion, exceeding the target by Rs 54 billion. This accomplishment marks a notable 30pc increase compared to the previous year's collection, with June 2024 alone contributing Rs 1,183 billion to the total.

Despite drop in imports, FBR managed to boost revenue through enhanced domestic taxation and strategic policy shifts aimed at supporting businesses and increasing direct taxation from higher-income groups.

FBR's record revenue collection shows a stern implementation of tax policies that underscore its critical role in economic framework of Asian nation.