FBR Surpasses May Revenue Target, Registers Significant Growth

Islamabad, The Federal Board of Revenue (FBR) has successfully exceeded its revenue collection target for May 2024, gathering Rs. 760 billion against a target of Rs. 745 billion. This accomplishment marks a robust 31% growth in revenue during the first eleven months of the year compared to the same period last year.

According to Press Information Department, FBR’s performance in May alone showed a remarkable 33% increase over May 2023, with domestic taxes growing by 43.0% within the month. The significant revenue boost reflects the government’s focus on enhancing resource mobilization through domestic taxes. FBR Chairman commended the dedication and effort of the team, highlighting the agency’s readiness to meet its financial targets for the concluding month of the current fiscal year, June 2024.