FBR exceeds revenue target by Rs35bn in seven months

IMF’s target of collecting Rs 4,425 billion in tax in six months also exceeded

The Federal Board of Revenue (FBR) has collected Rs 5,150 billion in the first seven months (July-Jan) of the current fiscal year (FY24), surpassing the set target of Rs 5,115 billion by Rs 35 billion.

This represents a growth of 29.6% from the Rs 3,973 billion collected in the same period of the previous fiscal year (FY23).

The FBR maintained its impressive performance in January 2024, collecting Rs 681 billion, which is 24.95% higher than the Rs 545 billion collected in January 2023.

However, the FBR fell short by Rs 9 billion of its target of Rs 690 billion for January 2024.

The FBR also exceeded the six-month (July-Dec) target of Rs 4,425 billion, as agreed with the International Monetary Fund (IMF), by Rs 43 billion, collecting Rs 4,468 billion. This shows an increase of more than Rs 1 trillion from the Rs 3,428 billion collected in the corresponding six months of FY23.

The FBR achieved these results despite issuing refunds of Rs 230 billion, compared to Rs 177 billion in the same period of FY23, and facing import compression.

The Chairman FBR praised the efforts of Member (Customs Operations), Member (IR Operations), and their teams for accomplishing this challenging task.

5 COMMENTS

  1. Sir please Redo Your Calculations:
    L.H.S
    1: FBR exceeded target by 43 Billion for July-Dec
    2: FBR Exceeded Target by 35 Billion for July-Dec
    It’s mean FBR fell short by Rs.8 Billion against target of 690 Billion in January..
    R.H.S
    Your Figures….FBR collects Rs.4468 Billion till Dec and Rs.5150 Billion till Jan….it’s mean FBR collect Rs. 682 billion in January 2024…as you mention their Target Rs. 690 Billion for January so they fell short for Rs.8 Billion not Rs.9 Billion..
    Therefore, L.H.S=R.H.S, Hence it is proved that you have made a mistake in your article…

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