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FBR collects Rs.4.493 trillion tax revenue in eight months

ISLAMABAD:- The Federal Board of Revenue (FBR) has achieved revenue target for Feb 2023 by collecting Rs 527.2 billion, registering growth of 17% compared to same month last year.

Finance Minister Ishaq Dar has twitted a message in this regard. According to the Finance Minister, FBR has successfully achieved revenue target of Feb 2023 by collecting Rs. 527 billion which is 17 percent higher as compared to the same month of the last fiscal year.

The shared data shows that the premier tax collecting agency of the country has collected Rs 4,493 billion in first eight months (July-Feb) as against Rs 3,820 billion in the corresponding period last year depicting year-on-year growth of 18 percent.

The data shows that the FBR has to collected Rs3147 billion during the next four months of the current fiscal year to achieve the tax target agreed with the IMF.

Dar said that the FBR continues to show impressive performance during third quarter of fiscal yera which displays its commitment towards achieving revised upward annual budgetary revenue target of Rs. 7,640 billion despite economic challenges.

It is pertinent to mention here that the DPM government led by Prime Minister Shehbaz Sharif has slapped additional tax measures through mini budget last month in compliance of the prior condition of the International Monetary Fund (IMF).

The govt claims that it will collected additional Rs170 billion through the new tax measures during the current fiscal year but some critics believe that the revenue impact of these tax measures could be more than Rs200 billion for the current fiscal year.   

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