FBR continues to register 30% growth in revenue collection as compared to the first nine months of previous financial year.
Islamabad: FBR has collected Rs. 6710 billion against an assigned target . At the end of the third quarter of current financial year, FBR has collected Rs. 6,710 billion against an assigned target of Rs. 6,707 billion for the first nine months whereas refunds amounting to Rs. 369 billion were issued as compared to Rs. 254 billion issued during the same period last year.
FBR continues to register 30% growth in revenue collection as compared to the first nine months of previous financial year. During the month of March – 2024, FBR has collected the assigned target of Rs. 879 billion, and refunds amounting to Rs. 67 billion were issued as compared to Rs. 22 billion issued in March, 2023.
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The Federal Board of Revenue (FBR) formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax evaders under surveillance, assess taxable incomes and perform special tasks for FBR Headquarters. FBR performs role of collection of taxation in the country from all individuals and businesses.
FBR also collects intelligence on tax evasion and administers tax laws for the Government of Pakistan and acts as the central revenue collection agency of Pakistan.
FBR has collected Rs. 6710 billion against an assigned target
Established as the Central Board of Revenue on 1 April 1924 through enactment of the “Central Board of Revenue Act, 1924“. In 1944, the CBR was put under the Revenue Division with the Ministry of Finance until 1960, when on the recommendations of the “Administrative Reorganization Committee”, the CBR was made into a division of the Ministry of Finance. In 1974, further changes were made to streamline the organization and its functions. In 1991, the CBR was once again reverted to its original status under the Revenue Division, however in January 1995, the Revenue Division was abolished and the CBR was once again reverted to a division of the Ministry of Finance. In 2007, the “FBR Act” was passed in July 2007, whereby the Central Board of Revenue was renamed to the present-day Federal Board of Revenue and for a third time placed again under the Revenue Division of the Ministry of Finance.
FBR has collected Rs. 6710 billion against an assigned target
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