Karachi, March 7, 2025 – The Federal Board of Revenue (FBR) has reported a remarkable 40% increase in tax payments alongside tax return filings for the tax year 2024. This significant growth demonstrates the success of the government’s recent efforts to enhance tax compliance and improve the efficiency of its tax collection system.
According to the FBR’s report for the first half of the fiscal year, ending December 31, 2024, taxpayers collectively deposited Rs 199.61 billion when filing their tax returns. This marks a substantial jump from the Rs 142.23 billion collected in the same period during the previous tax year, indicating a healthier tax culture in Pakistan.
The positive trend can be attributed to the FBR’s implementation of robust tax enforcement measures that encouraged both individuals and businesses to fulfill their tax obligations. These steps have proven effective, with a record number of tax return filings and a significant uptick in tax payments. In an effort to accommodate more taxpayers, the deadline for filing tax returns for salaried individuals, business entities, and Associations of Persons (AOPs) was extended from the original date of September 30, 2024, to October 14, 2024. Meanwhile, corporate taxpayers were required to submit their returns by December 31, 2024.
In addition to tax return filings, the FBR has also witnessed an impressive increase in advance tax collections. During the first half of the 2024-2025 fiscal year, the FBR managed to collect Rs 916 billion in advance tax, which represents a 27% increase compared to the Rs 720 billion collected in the same period the previous year. This increase further underscores the success of the FBR’s taxation policies and its concerted efforts to boost tax revenue.
Overall, the total voluntary tax payments, which include payments made alongside tax return submissions, amounted to Rs 1.12 trillion during the first half of the current fiscal year. This marks a 29.3% increase from the Rs 862 billion collected during the same period in the previous fiscal year. The surge in both tax return filings and payments illustrates the FBR’s successful efforts to broaden the tax base and encourage better compliance among taxpayers.
These figures are a testament to the growing commitment of taxpayers and the FBR’s ongoing initiatives to foster a transparent and effective tax collection system. The FBR has made significant strides in strengthening tax compliance through digital monitoring, audits, and the imposition of stricter enforcement actions.
The FBR has also emphasized the importance of timely tax return submissions and is encouraging taxpayers to continue their efforts to contribute to national revenue growth. In doing so, individuals and businesses can avoid penalties and ensure a more robust economic future for the country.
Looking ahead, the FBR is committed to continuing its reforms and policies aimed at further improving the tax collection system, increasing revenue, and ensuring greater taxpayer compliance across the board. As the fiscal year progresses, it is expected that the FBR will maintain its focus on expanding the tax net and building a culture of compliance that will benefit Pakistan’s economy in the long term.
This surge in tax payments and filings highlights the positive impact of the FBR’s recent initiatives and serves as a significant step towards the country’s broader economic growth and stability.