ISLAMABAD, Aug 1 (APP): Federal Board of Revenue (FBR) on Tuesday announced collecting Rs 538 billion net revenue during the month of July 2023 despite all the economic challenges faced by the country, posting a robust 16.6 percent growth as compared to the corresponding month of the last year.
“As against the set target of Rs. 534 billion, net revenue of Rs. 538 billion has been collected, despite issuance of refunds amounting to Rs. 49 Billion,” said a press release issued here.
The direct taxes continued showing a remarkable growth of 30 percent during July 2023 whereas Inland Revenue taxes has shown a healthy growth of 18 percent as compared to July 2022, and “The FBR team is optimistic with regard to sustaining this growth pattern for rest of the year.”
The FBR has exhibited a promising start for financial year 2023-24 regarding the revenue collection, by putting in an outstanding effort to achieve the monthly tax target despite all the economic headwinds faced by the country.
The performance of FBR amidst the current financial and economic turmoil, portrays the unwavering dedication of the tax officials to achieve the assigned target for the current year.
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