The Chairman of the Federal Board of Revenue (FBR), Asim Ahmad, has instructed the senior Inland Revenue officials in Karachi to closely monitor and enforce additional taxation measures that have been introduced through the mini-budget. The aim is to achieve the revised annual target of Rs.7,641 billion for the fiscal year 2023-23 (FY23).
In order to review revenue performance for the month of March 2023, a day-long meeting was recently held at the FBR headquarters. The meeting was chaired by the FBR Chairman and attended by the Chief Commissioner IR and Commissioners IR of the Large Tax Office (LTO) Karachi.
The FBR has collected Rs. 4,493 billion in the first eight months of the current financial year. This is an 18 percent increase compared to the Rs. 3,820 billion collected in the same period of the previous year.
In summary, the FBR is taking measures to ensure that it achieves its revenue targets for the current fiscal year, and is closely monitoring revenue collection to identify any areas for improvement.