According to reports, throughout the first seven months of the current fiscal year, the Federal Board of Income (FBR) has reportedly received Rs 5,150 billion in income, exceeding the objective.
FBR Exceeds Revenue Target for Current Fiscal Year, marking a successful financial outcome. Explore the details in our blog post.
The FBR made Rs 5,150 billion in revenue in the first seven months of CFY 2024, versus a target of Rs 5,115 billion, according to the figures made public.
The data shows that during the same period last year, the FBR collected Rs 3,973 billion in taxes, a notable increase of Rs 1,177 billion.
The FBR reached a noteworthy milestone in January alone, collecting a total of Rs 681 billion in taxes.
The amount collected during the same period of the previous financial year, Rs 545 billion, stands in stark contrast to this figure.
By collecting Rs 1.021 trillion and correcting refunds of Rs 38 billion that gained in December, FBR created history.
The first half of the current fiscal year and the monthly goals have been surpassed, according to a press release issued on Sunday.
The IMF had set a target of Rs 4425 billion for the first six months, which was surpassed by Rs 43 billion, for a total of Rs 4468 billion.
Within the same six months of the previous year, FBR collected Rs 3,428 crore, up over Rs 1 trillion.
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