The Federal Board of Revenue (FBR) has outperformed expectations by surpassing the tax collection target by Rs 44 billion set for the first quarter of the current fiscal year, FY24.

While the FBR will provide updated tax collection data by the end of the current month, it’s worth noting that, with two days remaining in the month, both the tax collection targets for September and the first quarter have already been exceeded.

For the first quarter spanning from July to September 2023, the tax collection stands at an impressive Rs 2,022 billion, surpassing the target of Rs 1,978 billion. This achievement reflects a notable growth of Rs 44 billion.

In the month of September 2023 alone, the FBR has already collected Rs 815 billion, exceeding the target of Rs 795 billion, indicating an increase of Rs 20 billion.