FBR surpasses May revenue target with Rs760 billion collection

The Federal Board of Revenue (FBR) has exceeded its revenue target for May in the fiscal year 2023-24 by collecting Rs760 billion in tax revenues, surpassing the target of Rs745 billion.

This achievement, announced in a statement by the FBR today, signifies a remarkable 33 per cent growth compared to May 2023.

In addition to the overall revenue increase, domestic taxes also experienced a significant 33 per cent growth during May.

“The FBR is poised to achieve the assigned target for the final month of the current financial year, June 2024,” the statement added.

This positive trend has contributed to an overall revenue growth of 31 per cent for the first eleven months of the current fiscal year, compared to the same period last year.