FBR surpasses target by Rs63bn in Q3FY24
Business
The Bureau collected Rs2,041 billion in the first quarter
ISLAMABAD (APP) - The Federal Board of Revenue (FBR) has collected Rs2,041 billion against the assigned target of Rs1,978bn in the first quarter of the current fiscal year, exceeding the target by Rs63bn.
The Bureau has also put in exceptional efforts to achieve the revenue target for the month of September 2023, said a press release issued here on Saturday.
As against a target of Rs794bn, the FBR was able to collect Rs834bn, while refunds amounting to Rs37bn were issued compared to Rs18bn issued in September 2022.
However, severe import compression was witnessed during the month of September 2023.
During the previous month, taxes at the import stage were collected at Rs299bn whereas during the current month, taxes at the import stage were only Rs254bn.
The FBR was able to make up the shortfall of Rs45bn through domestic taxes, especially direct taxes.
Team FBR has put in tremendous work.
