Federal Board of Revenue (FBR) created history by collecting Rs 1021 billion in December 2023 and after adjusting refunds of Rs 38 billion issued during the month, reached net collection of Rs 984 billion. Targets for the month as well as for the first six months of the current financial year were also surpassed. The target for the first six months was Rs 4425 billion (as agreed with IMF), which was surpassed by 43 billion and recorded a collection of Rs 4468 billion. FBR in the corresponding six months of the previous year collected Rs 3428, thus registering an increase of more than 1 trillion. This is even though refunds of Rs 230 billion have been issued against Rs 177 billion issued during the corresponding period of the previous year and continuous import compression.
It would not be out of place to mention that FBR collected 1 trillion as an annual collection back in 2007-08. It took 50 years to achieve this milestone. Whereas, in a span of only 15 years, this feat has been accomplished in a single month; through untiring efforts, sheer dedication, and hard work of field formations and top brass of FBR.
Chairman FBR congratulates Member (Customs Operations), Member (IR- Operations), and their teams for achieving this unsurmountable task. He also thanks the taxpayers, without whose continuous support and correct declarations, this target could not have been accomplished.
Source: IBP