The FBR achieved almost 34% growth in tax collection and got Rs507 billion more than the last fiscal year. Low tax collection has remained a chronic issue as taxation has skewed towards the indirect mode that has hurt poor people the most. But out of the four types of taxes – income tax, sales tax, federal excise duty (FED) and customs duty, the FBR met only income tax and FED targets. Income tax collection amounted to Rs925 billion, up Rs324 billion, or 54%, during the first three months of current fiscal year. Income tax collection was Rs145 billion more than the target, offsetting the impact of missed sales tax and customs duty targets.

Source: The Express Tribune September 29, 2023 10:09 UTC