FBR surpasses July-2023 target, collects Rs 538 billion

BusinessFBR surpasses July-2023 target, collects Rs 538 billion

ISLAMABAD, Pakistan: Amid all the economic challenges faced by the Country, the Federal Board of Revenue (FBR) has successfully surpassed the revenue target for the month of July-2023 and has even shown a robust 16.6 percent growth as compared to the corresponding month of last year.

As against the set target of Rs 534 billion, the net revenue of Rs 538 billion has been collected despite issuance of refunds amounting to Rs 49 billion.

The Direct Taxes continue to show a remarkable growth of 30% during the current month.

The Inland Revenue Taxes has shown a healthy growth of 18 percent as compared to last July and the FBR team is optimistic with regards to sustaining this growth pattern for rest of the year.

The FBR has exhibited a promising start for financial year 2023-24 regarding the revenue collection by putting in an outstanding effort to achieve the monthly tax target despite all the economic headwinds faced by the Country.

The performance of FBR amidst the current financial and economic turmoil, portrays the unwavering dedication of the tax officials to achieve the assigned target for the current year.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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