FBR set a target of Rs. 537 billion for tax collection in November

The Federal Board of Revenue (FBR) has set a November tax collection goal of Rs. 537 billion.

After suffering a major deficit of Rs. 21 billion in October, the FBR has established a revised tax goal. In order to reach the objective for the second quarter of the fiscal year 2022-23, the tax apparatus would need to collect Rs. 537 billion in November (FY23).

During the first four months (July-October) of the fiscal year 2022-23, the FBR’s preliminary tax collection was Rs. 2,147 billion compared to the goal of Rs. 2,143 billion, representing an increase of Rs. 4 billion.

The FBR collected 512 billion rupees in October 2022 compared to 446.5 billion rupees in October 2021, representing an increase of 65.5 billion rupees.

The FBR collected 685 billion rupees in net income for September, which was 27 percent more than the amount received in September 2021.

Additionally, the objective for the first quarter of the current fiscal year was exceeded by collecting Rs. 1,635 billion against the aim of Rs. 1,609 billion.

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