FBR collected revenue of 605 billion in May
Despite the difficulties, the Federal Board of Revenue collected a total revenue of Rs 605 billion in May 2023, showing excellent performance.
A net revenue of Rs 572 billion has been collected during May 2023 against a target of Rs 621 billion.
During May 2023, refunds of 33 billion rupees have been issued.
205 billion rupees were collected in the form of domestic income tax, which is 57% more than in May 2023.
FBR has collected about Rs 100 billion in domestic sales tax which is 28% more than last year.
About 41 billion rupees have been collected in terms of federal excise duty, which is 32% more than last year.
A total increase of 44% has been achieved in terms of domestic taxes.
Compared to May 2022, imports have decreased by 37% in May 2023 in terms of US dollar exchange rate.
During the same period, there has been a substantial decrease in imports of heavy duty and miscellaneous items.
Despite a decline of 18% in customs duties and 11% in tax collection at the import level, FBR has achieved an overall growth of 16% compared to last year.
