The International Monetary Fund (IMF) has projected the Federal Board of Revenue (FBR) to collect the highest-ever tax revenue in the current fiscal year 2023-24.
The IMF Country Report on Pakistan, which was released on January 19, 2024, predicted that FBR tax collection will increase by Rs. 2,282 billion, with total tax collection expected to hit Rs. 9,415 billion by the end of June FY24.
The IMF anticipates that the FBR is well-positioned to meet its set tax collection target for the current financial year. This outlook is based on the significant increase in tax revenue collected so far during FY24.
In FY25, the IMF projects an even bigger boost in FBR’s tax revenue, with the tax machinery tipped to collect a little over Rs. 11,000 billion, an estimated increase of Rs. 1,590 billion.
Breaking down the projections for the next fiscal year, the IMF predicts that direct taxes will rise to Rs. 4,803 billion in FY25, while sales tax collection is expected to climb to Rs. 4,114 billion.
lot lo pakistan awam ko
Tax bht important hai but in tax ka sahi use hona us sy b zaida important hai