The Federal Board of Revenue (FBR) did really well in collecting taxes in the first nine months of this fiscal year.
The latest numbers from the FBR show they collected Rs 6,710 billion from July to March. That’s way more than the target of Rs 6,707 billion. They did 30% better compared to last year.
Also, in March 2024, the FBR met the monthly income tax target of Rs 879 billion.
The FBR also made sure to give back tax refunds to people. They gave out Rs 369 billion in refunds in the first nine months of the year. That’s a lot more than the Rs 254 billion they gave last year.
In March 2024 alone, they gave out Rs 67 billion in refunds. That’s a big increase from the Rs 22 billion they gave out in March 2023.
