In a commendable achievement, the Federal Board of Revenue (FBR) has surpassed both its five-month tax collection target and the monthly goal for November 2023. Reportedly, the FBR has garnered Rs. 736 billion in revenue for November, exceeding the set target of Rs. 534 billion by an impressive 38 percent.
Over the initial five months of the current fiscal year, the tax department has collected a total of Rs. 3,484 billion, surpassing the target of Rs. 3,480 billion. Notably, this achievement occurred despite a substantial 54 percent increase in refunds compared to the same period in the previous year.
To enhance compliance, the FBR has issued three million tax notices to non-filers in the ongoing fiscal year, utilizing data obtained from the National Database and Registration Authority (NADRA). This robust performance underscores the effectiveness of FBR’s strategies in revenue collection and compliance enforcement.
