The Federal Board of Revenue (FBR) has attained its revenue collection goal for the fourth consecutive month, exhibiting an unprecedented 43% surge in domestic taxes and an overall growth of 37%. From July to October 2023, the FBR successfully gathered Rs. 2,748 billion, surpassing the designated target of Rs. 2,682 billion by an impressive Rs. 66 billion. This remarkable achievement reflects the dedication and hard work of the FBR in surpassing revenue goals.

Notably, the FBR’s unwavering efforts were particularly evident in October 2023, where the collection soared to Rs. 707 billion compared to Rs. 516 billion in October 2022. Additionally, the FBR issued refunds amounting to Rs. 158 billion during the initial four months, compared to Rs. 113 billion in the corresponding period of the previous year.

The number of tax returns filed until October 31, 2023, for the tax year 2023 reached approximately 2.9 million, showcasing a significant increase of 330,000 compared to the 2.57 million filed during the same period in the previous year.

The Chairman of the FBR commended the exceptional dedication, professionalism, and hard work exhibited by FBR officers and officials. He expressed confidence as the FBR remains resolute and determined to meet the assigned targets for the upcoming months of the current financial year.