For the first quarter of current financial year, FBR has collected Rs 2,041 billion (2022: 1644 billion) against assigned target of Rs 1,978 billion thus exceeding the target by Rs 63 billion. FBR has also put in exceptional efforts to achieve revenue target for the month of September, 2023. As against a target of Rs 794 billion, FBR was able to collect Rs 834 billion (2022: 688 billion), while refunds amounting to Rs 37 billion were issued compared to Rs 18 billion issued in September, 2022. However, severe import compression was witnessed during the month of September, 2023. During previous month, taxes at import stage were collected at Rs 299 billion whereas during the current month, taxes at import stage were only Rs 254 billion. FBR was able to make up the shortfall of Rs 45 billion through domestic taxes especially direct taxes. https://shorturl.at/eiG79
Source: IBP