FBR Reports 71% Increase in Tax Filers: FY24 Deadline Approaches

Pakistan, September 12, 2024: The Federal Board of Revenue has reported a 71% increase in tax filers as the deadline (September 30, 2024) for filing taxes for FY 24 approaches.

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According to details, the authorities consider this compliance an outcome of the recent initiative to digitize the filing system. Besides, awareness campaigns and strict enforcement measures by authorities are also among the major factors contributing to this surge in tax filers.

According to recent stats, the total number of recent filers has reached 5.3 million. In Fiscal Year 23, FBR collected 9.285 trillion (USD 33.22 Billion), exceeding its revised target of Pkr 9.252 trillion.

The increased income tax collection is good news. However, the sales tax collection fell short, bringing 14.6% below the target. FBR failed to collect Pkr 1.554 trillion by Pkr 98 billion in the first 2 months of fiscal year 25.

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For those still pending, this is the last phase to ensure compliance with tax collectables. FBR is working around the clock to facilitate the filers. Visit the FBR official portal to file your taxes, and stay connected with RBS for more updates on the 71% increase in tax filers.